Adani Green Energy’s shares surged following SEBI’s clearance regarding Hindenburg Research’s allegations, boosting investor confidence. Jefferies raised the target price to Rs 1,300, citing significant upside potential and projecting substantial capacity additions. Supported by promoter infusion and long-term power purchase agreements, the company anticipates improved financial metrics and strong EBITDA growth, despite potential risks like execution delays.
Fed Governor Michael Barr signals more rate hikes needed to tame inflation
Federal Reserve Governor Michael Barr announced that additional rate hikes may be necessary to manage inflation. He indicated that while economic growth is strong, inflation