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Experts at Bloomberg Intelligence say that the stocks of Adani Group companies are over-valued. Their shares are trading above their 200-day daily moving average (DMA) by 150% to 200%.
- Gautam Adani’s net worth is close to Mukesh Ambani’s net worth
- Adani is the 14th richest businessman in the world
Adani Group’s owner Gautam Adani may have become the second richest businessman in Asia, but the stocks of his companies are showing huge risk. Gautam Adani’s wealth has increased due to the sharp jump in the shares of his companies, due to which his net worth has reached close to Mukesh Ambani.
This year has proved to be a great one for Adani.
The year 2021 has proved to be tremendous for businessman Gautam Adani. The stock of Adani’s companies has seen a strong rise in the year 2021. Due to this, the wealth of Gautam Adani has increased by about Rs 3.15 lakh crore this year and he has become the second richest person in Asia. According to Bloomberg, Gautam Adani’s net worth has exceeded Rs 5.60 lakh crore.
Shares of Adani Total Gas have climbed 33 times this year
Shares of Adani Total Gas have climbed 33 times this year. At the same time, the share of Adani Enterprises has jumped 23 times and the share of Adani Transmission has registered a rise of 26 times so far. There has been a lot of risk hidden in the sharp jump in the shares of Adani Group companies. Thanks to this stock, Adani has grown faster than Reliance Industries chairman Mukesh Ambani and even Warren Buffett, the world’s biggest investor and owner of Berkshire Hathaway.
According to Bloomberg Intelligence, Elara India Opportunities Fund, APMS Investment Fund, Cresta Fund, Albula Investment Fund, LTS Investment and Asia Investment Corporation have invested 90% of their assets in Adani Group companies.
Shares of three companies are overvalued
Bloomberg Intelligence analysts Gaurav Patankar and Nitin Chanduka said in their note that after looking at the technical indicators, it is found that the shares of Adani Group companies, especially these three companies, are overvalued and extended. Analysts at Bloomberg Intelligence said some Mauritian companies account for more than 95% of the assets of these three Adani Group companies. Onshore shareholding in these companies means that the people of the country and the fund managers have negligible stake.
Big investors stay away
This position is the reason why large investors avoid investing in Adani Group companies, as such a concentrated position of shareholding shows an unfavourable risk-reward ratio. Analysts at Bloomberg Intelligence said foreign fund managers hold a substantial share of the shares in Adani Group companies, which greatly reduces the number of publicly floated shares and there is always a risk of volatility in its stocks.
MSCI inducts 3 more Adani Group companies
Apart from this, MSCI has included 3 more companies of Adani Group in its India Benchmark Index, which now has 5 companies of Adani Group in this index. This makes it imperative for investors tracking the MSCI India Index to buy shares of the Adani Group companies, which could lead to further upside in its stock. Experts at Bloomberg Intelligence say that the stocks of Adani Group companies are over-valued. Their shares are trading above their 200-day daily moving average (DMA) by 150% to 200%.