New Delhi, Nov. 11 -- Bank of America (BofA) Global Research has initiated coverage on the Adani Group with 'Overweight' (OW) ratings on several of its US dollar bonds, citing the conglomerate's solid fundamentals, strong asset base, and intact funding access despite regulatory scrutiny and tightening market conditions.

In its latest report, BofA stated that the group's solid asset base anchors its cash flow and credit profile across ports, utilities, and renewable energy sectors.

It highlighted that the Adani Group has consistently demonstrated operational performance, expansion, and market access, even amid global scrutiny. The report noted that while ratings have largely remained stable, some outlooks and watch statuses were revised....