Adani Group m-cap crosses $100 billion! What should investors do after multibagger returns?

From a fundamental perspective there is more upside left in all Adani Group stocks, while from a technical point of view, experts feel that investors who are sitting on profit may book some.

Billionaire Gautam Adani’s ports-to-energy conglomerate has become India’s third group to cross USD 100 billion in market capitalisation with shares of all the six companies listed on the exchanged more than doubling investors’ wealth in the last year, data from AceEquity showed.

All the six stocks under the group have given multibagger returns and at least four of them are trading at record highs. Experts, which Moneycontrol spoke to, recommend investors who have been sitting on hefty gains to book profits while the long-term outlook still remains intact. Hence, they could become a good buy on dips stocks.

The total market cap of Adani Group’s six listed companies at the close of trading on Tuesday was Rs 7.84 lakh crore or USD 106.8 billion, according to stock exchange data.

“The group has been able to add/acquire large assets and report strong near-term financial performance. This coupled with the scarcity of stock; given very high promoter holding, is the key reason why Adani group company stocks are on fire,” Dipan Mehta, Director at Elixir Capital Ltd told Moneycontrol.

Adani Group is the third Indian conglomerate to cross the USD 100 billion market cap mark after Tata Group and Reliance Industries Ltd. Tata Group’s current market cap is around USD 242 billion while RIL m-cap is at USD 171 billion

Reference URL:

https://www.moneycontrol.com/news/business/markets/adani-group-m-cap-crosses-100-billion-what-should-investors-do-after-multibagger-returns-6740281.html