Adani Green Energy share price surges 13% in 2 days, Jefferies bullish

Adani Green Energy Ltd. (AGEL), a prominent player in India’s renewable energy sector, has witnessed a remarkable 13% surge in its stock price over the past two trading sessions. This upward trajectory follows a significant development: the Securities and Exchange Board of India (SEBI) has dismissed allegations of stock manipulation and related-party transactions that were previously raised by Hindenburg Research in 2023. The regulatory body’s clearance has not only restored investor confidence but also attracted the attention of global brokerage firms. Jefferies, a renowned international brokerage, has reaffirmed its “Buy” rating for AGEL, setting a target price of ₹1,300 per share, which suggests a potential upside of approximately 27% from the current levels.