The great Adani trade is back with Rs 1.4 lakh crore bang! Why Adani Enterprises is Nifty’s hottest stock now

Adani Enterprises has rallied 41% this year, making it Nifty's best performer with market cap swelling by more than Rs 1.40 lakh crore to Rs 4.3 lakh crore. Its Rs 15,000 crore QIP was oversubscribed about four times, attracting bids of around Rs 38,000 crore from global investors like BlackRock, Goldman Sachs, Blackstone, Capital Group and Nomura, alongside leading domestic mutual funds. Morgan Stanley initiated coverage with an overweight rating and Rs 3,638 target, projecting revenue and EBITDA CAGR of 19% and 32% respectively between FY26 and FY30, with planned demergers of airports, roads and Adani New Industries platforms.