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The Adani Group, based in Ahmedabad, Gujarat, India, is a diverse conglomerate consisting of 10 publicly traded companies. Led by chairman Gautam Adani, it operates in various sectors including ports, airports, power generation and transmission, and green energy initiatives. 

Adani Group is India’s biggest airport operator and also manages India’s largest seaport, Mundra Port, Additionally, the group also owns, the largest coal field, Carmichael coal mine located in Australia. The Adani Group’s net worth as of June 2024 is approximately $111.1 billion, As of date, Gautam Adani’s net worth has reached $86.1 billion. 

In a recent keynote address at Crisil’s Rating Annual Infrastructure Summit 2024, Billionaire Gautam Adani highlighted the growth potential of the Indian stock market. 

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Currently, the Indian stock market capitalization stands at over $5 trillion. He anticipates it to surpass $40 trillion by 2050. This implies that in the next 26 years, India could potentially increase its stock market capitalization by $36 trillion. 

Gautam Adani, also emphasized the country’s economic growth, saying, “There has never been a better time to be an Indian. Within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months, putting us on track to be a $30 trillion economy by 2050.” 

He expressed optimism about India’s future growth, suggesting that with ongoing economic and social reforms, India could potentially add a trillion dollars to its GDP every 12 to 18 months within the next decade. 

Looking ahead to fiscal year 2032, when India aims to become a $10 trillion economy, Adani forecasted that infrastructure spending would exceed $2.5 trillion. 

Prabhudas Lilladher recently assessed the Nifty’s valuation using various scenarios. In a bullish outlook, they placed the Nifty at a 5% premium to its 15-year average PE, setting a target of 27,102 (previously 27,100) for the next 12 months. 

Conversely, in a bearish scenario, they projected the Nifty to trade at a 10% discount to its long-term average PE, resulting in a target of 23,235 (previously 23,229). 

In our assessment, a country’s progress hinges significantly on a stable government, effective policies, strong governance, and robust capital expenditure (capex).

These factors are crucial for promoting infrastructure development, enhancing education, and creating job opportunities through public-private partnerships. Such initiatives are pivotal in driving overall economic growth and boosting stock market indices to unprecedented levels. 

Furthermore, sustained progress in these areas not only supports economic stability but also enhances investor confidence, which in turn fuels further growth across various sectors. This holistic approach is essential for achieving long-term prosperity and ensuring sustainable development in the country. 

Written by Omkar Chitnis

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