Bluechip Adani Group Stock Given 7,322% Return In 5 Yrs, EPS Rallies, Revenue Up 23%

Adani group stocks are some of the best-performing companies in 2022. Although large-cap stocks are known to give lesser returns in the short term, compared to small-cap stocks, bluechip Adani group stocks have outperformed many mid-cap and small-cap stocks this year. Adani Green Energy is one of those bluechip stocks that have given high returns to shareholders, both in the long term and short term.

The share price of Adani Green Energy stood at Rs. 2,186, today, on November 14. The company's EPS gained to Rs. 0.74 in Q2 FY23, up from Rs. 0.47 in Q2 FY22. Its revenue in Q2 FY23 increased to Rs. 15.9b, up 23% YoY, while net income gained to Rs. 1.49b, up 49% YoY. On the other hand, Adani Green Energy's profit margin in Q2 FY23 stood at 9.4%, up from 7.7% in the year-ago quarter, driven by higher revenue.

Adani Green Energy's "Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 109% per year but the company's share price has increased by 184% per year, which means it is tracking significantly ahead of earnings growth," a simplywall.st report mentioned.

Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities Ltd. recommended to buy the stock of Adani Green Energy. Commenting on the stock Athawale stated, "After a short-term correction, the stock took support near the 200-Day SMA (Simple Moving Average). The stock has formed a higher bottom formation on the daily and intraday charts indicating a strong possibility of further upside from the current levels. We are of the view that the short-term texture of the stock is up, but fresh uptrend rally is possible only after dismissal of 2250 or the 50-Day SMA."

In the last 1 month, the share of Adani Green Energy gained by 7.52%. Its stock price gained by 67.50% in the last 1 year, and in the last 5 years this multibagger stock has gained by 7,322%. It is a large-cap stock with a market capitalization of Rs. 346,269 crore.

The 52-week high level of this stock is Rs. 3,050, and the 52-week low level of this stock is Rs. 1,235.

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