Adani Utility Firm Eclipses India Giants in Value With 125% Rise

There’s also a general sense of puzzlement around why the tycoon’s businesses are trading at far higher valuation ratios than local and global peers, seemingly beyond what their business prospects would justify. Adani Transmission is trading at more than 300 times its one-year forward earnings, making it the most expensive stock in the sector globally, including American Electric Power Company and Duke Energy Corp., according to data compiled by Bloomberg.