Despite recent volatility, Adani Energy Solutions shows promise, with Cantor initiating an ’overweight’ recommendation and a target price of ₹2,251. The firm anticipates robust growth driven by its diverse operations in India’s energy sector.

Adani Energy Solutions trades at 60 per cent discount to peers on a growth-adjusted basis. It should trade at an in-line multiple, if not a premium, Cantor said.

The research report expects Adani Energy's revenue to grow at a CAGR of 20 percent from fiscal 2024 to 2027 and is 'Overweight' on the counter.

As India doubles down on electrification to connect more rural areas, Adani Energy Solutions Ltd (AESL) -- with its diversified portfolio that includes transmission assets, distribution assets and a smart metering business -- is poised to not only see robust growth over the next four years but also continue to outgrow peers for at least the next decade,