India's Adani Green jumps after Macquarie starts with 'buy'
ReutersMar 13, 2025 6:12 AM
Adani Green Energy ADNA.NS rises 3.3% to 881.4 rupees
Macquarie Equity Research initiates with "outperform", terming it structural renewable energy play
Sets PT of 1,200 rupees, a potential upside of 40.6%
Co targets 50GW renewable energy capacity by FY30 from 12GW currently
Macquarie assumes conservative 30GW capacity addition and improved utilisations helped by co's power plant in Gujarat's Khavda
Expects EBITDA to see 25% CAGR between now and FY30
Sees net debt/EBITDA declining to 5x in FY30 from 7x now
YTD, ADNA loses 15.5% vs 12.5% drop in Nifty Next 50 index .NN50, of which it is a constituent
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