Adani Enterprises Stock Recommendation: Broker Insights on Buy or Sell for April 17, 2026
Jefferies has adjusted its target price for Adani Enterprises, reducing it from Rs 2,750 to Rs 2,600 while maintaining a buy rating. Analysts noted that Adani Airports is currently experiencing a decline in traffic, which is delaying the ramp-up of the Navi Mumbai International Airport. However, they highlighted that non-aeronautical revenues and airport-led real estate monetization are on the rise. Meanwhile, Citigroup has set a target price of Rs 5,560 for HAL, following a significant agreement with GE Aerospace regarding the co-production of F414 engines in India. In contrast, Macquarie has issued an underperform rating for Aurobindo Pharma, setting a target price of Rs 1,050, despite a promising expansion agreement with Merck. Lastly, HSBC has cut its target price for Trent to Rs 4,800, while Morgan Stanley has maintained an overweight rating on Aditya Birla Capital with a target price of Rs 405.
Adani Enterprises Faces Traffic Challenges
Jefferies has reaffirmed its buy rating on Adani Enterprises but has lowered its target price to Rs 2,600 from the previous Rs 2,750. Analysts pointed out that Adani Airports is currently grappling with a decrease in passenger traffic, which is hindering the ramp-up of the Navi Mumbai International Airport (NMIAL). Despite these challenges, they noted that the company is seeing growth in non-aeronautical revenues and airport-led real estate monetization. Furthermore, the new energy sector of Adani is benefiting from favorable energy security trends, particularly with solar capacity expansion at Mundra. This expansion is expected to enhance earnings before interest, taxes, depreciation, and amortization (EBITDA) starting from FY27. Analysts also anticipate growth in the copper and road sectors during the same fiscal year. However, due to geopolitical uncertainties, they have adjusted the EBITDA estimates downward by 3-7%.
HAL and GE Aerospace Partnership
Citigroup has issued a buy rating for Hindustan Aeronautics Limited (HAL), setting a target price of Rs 5,560. This comes on the heels of a significant agreement between HAL and GE Aerospace concerning the co-production of F414 engines in India. This agreement marks a crucial development since the initial memorandum of understanding (MoU) was signed in 2023. Analysts expect that commercial negotiations will conclude between December 2026 and March 2027. The F414 engine is anticipated to power over 100 Tejas Mk2 aircraft and the first two squadrons of the Advanced Medium Combat Aircraft (AMCA) Mk1. While there are concerns regarding the timelines for commercial formalization and execution risks, analysts view this partnership as a positive medium-term development for HAL.
Aurobindo Pharma’s Expansion with Merck
Macquarie has assigned an underperform rating to Aurobindo Pharma, with a target price set at Rs 1,050. The company’s subsidiary, TheraNym Biologics, has recently announced an expansion of its existing biologics contract manufacturing relationship with Merck, which was initially established in May 2024. As part of this expansion, TheraNym plans to construct a new biologics drug substance manufacturing facility with a total bioreactor capacity of 60,000 liters. The investment for this project is estimated to be between $150 million and $175 million. Analysts believe that this expanded agreement validates Aurobindo’s capabilities in biologics manufacturing. However, they caution that any significant financial benefits from this contract are likely to materialize in three to four years.
Trent and Aditya Birla Capital Updates
HSBC has reduced its target price for Trent to Rs 4,800 while maintaining a buy rating. Analysts noted that Trent aims to add around 200 stores for its Zudio brand by FY26, despite some moderation in productivity. They believe that this growth trajectory provides visibility for FY27 and beyond. Analysts expect Zudio to achieve a 4% like-for-like growth in FY27, with performance triggers including sustained growth rates of 18-20% and no adverse effects from competition or cannibalization. Meanwhile, Morgan Stanley has kept its overweight rating on Aditya Birla Capital, with a target price of Rs 405. The company’s housing finance subsidiary reported a robust loan growth of 48% year-on-year. While net interest income growth slightly fell short of expectations, profit growth remained strong, bolstered by operational leverage. Analysts observed improvements in asset quality, with lower gross and net non-performing assets (NPAs) and a significant decline in provisioning, supporting overall earnings.
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