Motilal Oswal has initiated coverage on Adani Enterprises Limited (AEL) with a Buy rating and a sum-of-the-parts-based target price of Rs 3,880, indicating a 25% upside.
Following the coverage initiation, Adani Enterprises shares traded over 1% higher. The stock rose Rs 33, or 1.06%, to Rs 3,145 on the NSE at 11:09 am, compared with the previous close of Rs 3,112. It opened at Rs 3,125 and touched an intraday high of Rs 3,159.
