. TotalEnergies only struck its deal after securing a discount of some 40% to the publicly traded price.
The lack of appreciation is also not one-sided, however. A spokesperson for Adani group says it has not courted analysts because it only typically sells shares when looking for strategic investors. The group expects analyst coverage of its companies to increase in the coming years as it enters the next phase of its growth. That might help to address other concerns.
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