Early January 2023
Adani Enterprises is one of several listed companies within the broader Adani Group, and it is the embodiment of a Modi-era Indian corporate success story. While the group businesses are essential to Indian life – power, ports, mining, airports, food processing – their share prices have behaved in a manner that would look extravagant for a tech stock.
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In mid-January 2023, Adani Enterprise’s share price was up 95% in a year and 2,500% over five years, valuing the company at around 140 times earnings.
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