1. The Adani Group is founded by Gautam Adani, who is listed as the 2nd richest man in the world in 2022.

2. Recently, the stock prices of the listed companies in the group have fallen sharply after the release of a report by Hindenburg Research alleging stock price manipulation and accounting fraud. The group had refuted these allegations.

3. Listed companies in the group are shown below - Enterprise, Power, Ports & SEZ, Green Energy and Transmission. All of them have the name Adani.

4. The total market capitalization of the listed companies as at 30 Jan 2023 is INR 8,901 billion, or USD $108.5 billion. The stock prices are now at 51% of the recent high during the past year. The average PE ratio is 231.8 times. The stocks pay little or no dividend. 

5. Adani Ports & SEZ appears to be reasonably priced with PE ratio of 23.0 times, forward PE ratio of 18.2 times and dividend yield of 0.84%. 

6. Adani Power appears to be reasonably priced with PE ratio of 12.0 times. It does not pay any dividend.

7. The other stocks are highly priced, with PE ratio of more than 100 times. 

Note - this is not investment advice.

Tan Kin Lian