Adani Group debt offers value, say Goldman, and JPMorgan

Goldman Sachs and JPMorgan Chase have told some clients that bonds related to Gautam Adani’s business empire can offer value due to the strength of certain assets.

On a call with investors Thursday, Goldman Sachs trading executives expressed the firm’s view that Adani debt had hit a floor in the short term and bonds of Adani Ports NSE 3.92 % & Special Economic Zone have become interesting at the current price due to the value of that company’s assets, people with knowledge of the matter said. Before Adani pulled a stock sale, JPMorgan credit analysts said in a note to clients that they saw value in debt of some Adani operating companies.