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IIFL initiates coverage on Adani Power with target price at Rs 240, estimates EBITDA to quadruple by FY33-35E
IIFL initiated coverage on Adani Power with a 'Buy' rating and Rs 240 target price. The brokerage forecasts EBITDA to quadruple by FY33-35E due to growth pipeline. Adani Power is building significant new coal capacity, expanding its operational base. Free cash flow from operations is expected to rise substantially after portfolio buildout. The company also plans future ventures into nuclear and hydro power generation.
Fertiliser outlook | Strait of Hormuz disruption could hit supplies, pricing a key risk, says IIFL
Ranjit Cirumalla, Senior Vice President-Research Agri, Chemicals at IIFL, said the Strait of Hormuz is critical for India’s fertiliser supply, as a large share of imported urea, DAP, MOP, rock phosphate and phosphoric acid transits through it. Any disruption could hit availability and push up prices ahead of kharif. While urea costs are largely passed through, complex fertilisers may see pricing impact until subsidy revisions. Stocks like Coromandel, Deepak Fertilisers and Deepak Nitrite could see near-term effects, with government support cushioning volatility.