The Adani Group is India’s most controversial and closely-watched conglomerate. In January 2023, a short-seller report from Hindenburg Research wiped out over ₹11 lakh crore in market value in days. By May 2026, Adani stocks have fully recovered and some have hit new all-time highs — Adani Ports reached ₹1,792 on May 8, 2026, Adani Enterprises is near its 52-week high at ₹2,900, and Adani Green has gained 75% since April 2026 alone.
The May 2026 landscape marks a pivotal inflection point for the group: SEBI gave a clean chit in the Hindenburg case (December 2025), the OFAC settlement of $275 million has been executed (May 2026), and the US SEC civil case is resolved. Meanwhile, the group’s EBITDA has grown at a 22% CAGR from FY23 to FY26, with Adani Green and Adani Power doubling their EBITDA.
In this comprehensive analysis, we break down all major Adani Group stocks with live May 2026 data, Bernstein’s institutional research, technical levels, price prediction tables through 2030, and a clear stock-by-stock verdict: which to buy, which to hold, and which carries unacceptable risk for most investors.
📊 Adani Group Live Snapshot — May 26, 2026
ADANIENT Price
₹2,900
52W: ₹1,753–₹2,900
ADANIPORTS Price
₹1,689
ATH: ₹1,792 (May 8)
ADANIGREEN Price
₹1,394
+75% since April 2026
ADANIPOWER Price
₹224
+50% since April
ADANIENT Mkt Cap
₹3,70,624 Cr
Flagship company
ADANIPORTS Mkt Cap
₹3,89,000 Cr
India’s #1 port operator
Group EBITDA CAGR
22%
FY23–FY26 (Bernstein)
Net Debt/EBITDA
3.9x
Up from 2.7x post-event
ADANIENT P/E
30.82x
P/B: 5.58x
OFAC Settlement
$275M ✓
Executed May 14, 2026
ADANIENT 1-Yr Return
+11.86%
6M: +12.4%
Upcoming Event
May 27 Analyst Day
NMIA, Navi Mumbai
🏗 Adani Group — Major Listed Stocks: Individual Analysis
The Adani Group has 10 listed entities on NSE and BSE. Here are the four largest by market cap, with individual fundamentals and our verdict on each:
NSE: ADANIENT
Adani Enterprises Ltd — Flagship / Incubator
₹2,900
▲2.3% today
Mkt Cap
₹3.7L Cr
P/E Ratio
30.82x
52W Range
₹1,753–2,900
1-Year Return
+11.86%
Key Business
Airport, Solar, Data
OFAC Impact
Settled ✓
⚖️ HOLD — Near 52W High
NSE: ADANIPORTS
Adani Ports & SEZ Ltd — India’s Largest Port Operator
₹1,689
▼4.4% (post-ATH correction)
Mkt Cap
₹3.89L Cr
ATH
₹1,792 (May 8)
1-Year Return
+24%
3-Year Return
+141.32%
52W Low
₹1,291
Dividend
Yes
✅ BUY on dips to ₹1,600
NSE: ADANIGREEN
Adani Green Energy Ltd — Renewable Giant
₹1,394
▲1.86% today
Since April Rally
+75%
EBITDA Growth
Doubled FY23-26
Target 2030
50 GW capacity
Debt Risk
High — capex
Sector Tailwind
India 500GW
SEC Case
Settled ✓
👁 WATCH — High Debt Risk
NSE: ADANIPOWER
Adani Power Ltd — Thermal Power Leader
₹224
▲2.08% today
Since April Rally
+50%
EBITDA Growth
Doubled FY23-26
Capacity
16,800 MW
Cash Flow
Strong
Sector
Thermal Power
Risk Level
Medium
✅ BUY — Strong EBITDA Growth
⚠️ Adani Group Risk Matrix — What Every Investor Must Know
Investing in Adani Group requires a clear-eyed view of its specific risks. Here is our quantified risk matrix across six key dimensions:
🔴 Adani Group Risk Assessment (1–10, 10 = Highest Risk)
Debt Risk (Net D/E: 3.9x)
8/10
Regulatory / Legal Risk
5/10
Promoter Concentration Risk
7.5/10
Execution Risk (Mega Projects)
5.5/10
Short-Seller / Geopolitical Risk
4.5/10
Business Quality / EBITDA Growth
8.2/10 ✅
📉 Technical Analysis — Key Levels for Adani Stocks
Since April 2026 — following the SEBI clean chit and legal resolution news — Adani stocks have surged 35–75%. Here are the current technical readings for the most important Adani stocks:
ADANIENT — Technical Snapshot
RSI (14-day)68.4Near Overbought
Position vs 200 SMAAbove ↑Bullish
Key Support₹2,550 – ₹2,620
Key Resistance₹2,803 (52W High)
VerdictWait for pullback₹2,600 entry
ADANIPORTS — Technical Snapshot
RSI (14-day)72.1Overbought
52W ATH₹1,792 (May 8)
Key Support₹1,600 – ₹1,650Buy Zone
Key Resistance₹1,800 – ₹1,850
VerdictBuy ₹1,600 zoneTarget ₹2,000+
ADANIGREEN — Technical Snapshot
RSI (14-day)74.8Overbought
Rally Since April+75%
Key Support₹1,100 – ₹1,200
Analyst Target₹1,330+/- 5%
VerdictWait — OverboughtHigh Risk
ADANIPOWER — Technical Snapshot
RSI (14-day)65.2Elevated
Rally Since April+50%
Key Support₹195 – ₹210
Target₹280 – ₹320
VerdictBuy dips ₹200-₹210EBITDA story
🔮 Adani Group Stock Price Predictions 2026–2030
Our year-by-year price targets for the four major Adani stocks, based on EBITDA growth trajectory, debt reduction plans, and India infrastructure spending:
After the legal overhang cleared, institutional analysts are openly revisiting Adani Group. Here are the three most relevant May 2026 views:
BS
Bernstein Research — India Institutional Team
Bernstein · Major Sell-Side Research · India Coverage
View: Cautiously Positive — Underowned · Adani Ports & Power top picks
“Net group debt has risen by ₹1 lakh crore since September 2024 due to capex-led growth at Adani Green and Adani Enterprises. However, EBITDA grew strongly at 22% CAGR over FY23-26, driven by capacity additions. Adani Green and Adani Power doubled EBITDA. Net Debt/EBITDA while lower than the short-seller event peak of 4.4x — now at 3.9x — remains elevated. The key positive: pledged shares have dramatically reduced since 2023, removing the ‘domino effect’ risk that spooked investors. We see Adani Ports and Adani Power as the most fundamentally compelling on risk-adjusted basis.”
Selectively Bullish
SBI
SBI Mutual Fund — Block Deal Action
SBI MF · India’s Largest Mutual Fund House · Institutional Signal
Action: Acquired ₹1,435 Cr ADANIENT at ₹2,435/share (May 14, 2026)
SBI Mutual Fund acquired nearly half a percent equity stake worth ₹1,435 crore in Adani Enterprises through a block deal on May 14, 2026 — buying from GQG Partners at ₹2,435.6 per share. This is a significant institutional vote of confidence. When India’s largest mutual fund house buys a nearly ₹1,500 crore block at a 16% discount to the current price of ₹2,900, it signals high conviction in the fundamental recovery thesis. This action — more than any analyst report — speaks to the return of domestic institutional confidence in the Adani Group.
Strong Institutional Buy
JF
Jefferies India Research
Jefferies Group · Global Investment Bank · India Coverage
ADANIPORTS Target: ₹2,100 · ADANIGREEN: Monitor
“Adani Ports remains our highest-conviction Adani Group pick — it has the strongest free cash flow profile, real asset backing in port infrastructure, the most transparent operations, a dividend, and the lowest governance risk within the group. The cargo volume growth of 12%+ YoY, combined with the group’s expanding port network and the India logistics sector growth story, supports a path to ₹2,000–₹2,100 over 12 months. Adani Green’s 75% rally makes it expensive for new money — we would wait for consolidation.”
Buy (Ports)
❓ Frequently Asked Questions (FAQ)
Which Adani Group stock is best to buy in 2026? ▼
Adani Ports & SEZ (APSEZ) is our top pick — strongest cash flows, 24% 1-year return, record cargo volumes, pays a dividend, and lowest governance risk. Adani Power is second choice — EBITDA doubled in 3 years, 50% post-April rally still supported by fundamentals. Adani Enterprises is a Hold near its 52-week high of ₹2,900 — wait for a pullback to ₹2,500–₹2,600 for better entry. Adani Green is a Watch — 75% rally in weeks makes it overbought; high debt (capex-driven) remains a concern; wait for consolidation below ₹1,200.
Is Adani Group safe to invest after the OFAC settlement? ▼
The major legal overhangs are now largely resolved. The SEBI clean chit (December 2025), the OFAC settlement of $275M (May 14, 2026), and the US SEC civil case resolution collectively remove the three most feared legal outcomes. SBI Mutual Fund’s ₹1,435 crore block purchase in May 2026 is a powerful institutional signal. However, “safe” is relative — the group still carries Net Debt/EBITDA of 3.9x, Gautam Adani’s personal risk to the group remains, and mega-project execution risk exists. Adani is investable now, but with position sizing reflecting the concentration and debt risks.
What is Adani Enterprises share price target for 2026? ▼
Adani Enterprises (ADANIENT) currently trades at ₹2,900 — near its 52-week high of ₹2,803 (which it has exceeded). Our base case 2026 target is ₹3,200, with a bull case of ₹3,800. The company is incubating multiple high-value businesses — Navi Mumbai International Airport (NMIA) opening, copper manufacturing at Mundra, data centers, and solar module manufacturing. The investor-analyst day on May 27, 2026 at NMIA should provide updated revenue and capex guidance across these new businesses. P/E of 30.82x reflects high-growth expectations that must be met.
What is the biggest risk in Adani Group stocks? ▼
The single biggest risk is high leverage — Net Debt/EBITDA of 3.9x means a significant slowdown in cash flows or interest rate shock could create financial stress. Second biggest: promoter concentration — Gautam Adani and family own controlling stakes across all entities; any personal legal issue, health event, or controversy directly impacts all group stocks simultaneously. Third: execution risk on mega-projects — NMIA airport, 50GW green energy, copper smelter, and multiple data centers all simultaneously. Delays or cost overruns could stress the balance sheet further.
Did Adani Group stocks recover after the Hindenburg short-seller report? ▼
Yes — dramatically. Adani Ports hit a new all-time high of ₹1,792 on May 8, 2026, gaining 141% over 3 years (from the post-Hindenburg low). Adani Enterprises is near its 52-week high at ₹2,900, with +11.86% over the past year. Adani Green surged 75% in just weeks post the legal resolution. The recovery was driven by: SEBI’s clean chit in December 2025, OFAC and SEC case resolutions, continued strong operating performance (22% EBITDA CAGR), GQG Partners maintaining its position, and SBI MF purchasing ₹1,435 crore of ADANIENT.
Adani Group Stocks: Selective Buy — Ports & Power YES, Enterprises WAIT, Green WATCH
Post the resolution of all three major legal events — SEBI clean chit, OFAC settlement, SEC case — the Adani Group has entered a new phase. The 22% EBITDA CAGR from FY23-26 is real, the group’s infrastructure assets are genuinely world-class, and institutional investors from GQG Partners to SBI Mutual Fund are actively involved. The Navi Mumbai Airport is a transformational asset. The 50GW renewable energy target could make AGEL one of the world’s largest green energy companies.
However, the risks are not gone — they are simply better-understood. Net Debt/EBITDA of 3.9x leaves little room for error. Our stock-by-stock recommendation: Adani Ports (BUY on dips ₹1,600) — strongest risk/reward, cash flows, dividend. Adani Power (BUY dips ₹200-210) — EBITDA doubled, clean power demand growing. Adani Enterprises (HOLD/WAIT) — near 52-week high, wait for ₹2,500–₹2,600. Adani Green (WATCH) — post 75% surge, high debt, wait for consolidation.
Avoid
62% Selective Bullish · Risk-Aware Allocation
⚠️ SEBI-Compliant Investment Disclaimer
This article is for educational and informational purposes only and does not constitute SEBI-registered investment advice. Adani Group stocks involve significant risk including high leverage (Net Debt/EBITDA 3.9x), promoter concentration, geopolitical exposure, and mega-project execution risk. Past performance is not indicative of future results. Always conduct independent research and consult a SEBI-registered financial advisor before making investment decisions. StockTirumala.com may hold positions in securities mentioned.
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ADANI AI ANALYST
StockTirumala · India Research
🏗 Welcome! Ask me about Adani Group stocks — which to buy, the OFAC settlement, price targets, or risk analysis!