Sell Adani Enterprises, target price Rs 2000: IIFL

IIFL has sell call on Adani Enterprises with a target price of Rs 2000. The current market price of Adani Enterprises Ltd. is Rs 2075.1. Time period given by analyst is Intra Day when Adani Enterprises Ltd. price can reach defined target.

Adani Enterprises Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 236453.33 Crore) operating in Diversified sector.

Adani Enterprises Ltd. key Products/Revenue Segments include Coal, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 25141.56 Crore, up 32.58 % from last quarter Total Income of Rs 18963.40 Crore and up 83.66 % from last year same quarter Total Income of Rs 13688.95 Crore. Company reported net profit after tax of Rs 255.01 Crore in latest quarter.

Investment Rationale
The stock has given a bearish flag breakdown.

Promoter/FII Holdings
Promoters held 74.92 per cent stake in the company as of 31-Mar-2022, while FIIs owned 16.62 per cent, DIIs 5.69 per cent.