Shares of Adani Group
companies were on roll on Tuesday with Adani Green Energy crossing Rs 2-trillion market capitalisation (market-cap) on the BSE, while Adani Total Gas touched Rs 1-trillion m-cap in the intra-day deals after a strong rally in these stocks.
Adani Green Energy (AGEL) is the first group company to hit Rs 2-trillion market-cap. At 09:29 am, the company had an m-cap of Rs 2.05 trillion, BSE data shows.
The shares of the company, engaged in renewal business, were locked in the 5 per cent upper circuit band for the third straight day after Adani Renewable Energy Holding Fifteen Limited (AREHFL), a subsidiary of the company, received Letter of Award (LOA) for 300 MW wind project.
“AREHFL, a subsidiary of AGEL, had participated in the tender issued by SECI for setting up 1,200 MW ISTS-connected Wind Power Project (Tranche-X) and received the Letter of Award (LOA) to set-up 300 MW Wind Power Project under this tender. The fixed tariff for this project capacity is Rs. 2.77/kWh for a period of 25 years,” AGEL said in a press release. With this, AGEL’s total renewable capacity now stands at 15,165 MW, of which 3,395 MW renewable plants are operational and 11,770 MW projects are under implementation," it said.
Meanwhile, Adani Total Gas became the fourth group company to join the Rs 1-trillion m-cap club. The company’s market-cap touched Rs 1.06 trillion mark after the stock of the integrated oil & gas company hit a new high of Rs 915 in the intra-day trade today.
Adani Ports and Special Economic Zone (Rs 1.5 trillion) and Adani Enterprises (Rs 1.14 trillion) are other two Adani group
companies that have market-cap of more than Rs 1 trillion.
Meanwhile, including Adani Transmission (Rs 90,624 crore) market-cap, six out of the seven listed Adani group
companies, now feature in the top 50 most valued companies in terms of market-cap. Adani Power has an market-cap of Rs 39,206 crore.
In the past one year, Adani Total Gas has seen its market value appreciate by 908 per cent, while that of AGEL has soared by 873 per cent, followed by Adani Enterprises (737 per cent), Adani Transmission (339 per cent), Adani Power (296 per cent) and Adani Ports (256 per cent). In comparison, the S&P BSE Sensex has rallied 93 per cent during the period.