Adani Green Energy surpasses Adani Ports to become most-valued group firm

Adani Green Energy has outperformed the market in the past month
Adani Green Energy surpassed Adani Ports and Special Economic Zone (SEZ) to become the most valued Adani Group Company in terms of market capitalisation (market-cap) after its shares were locked in 5 per cent upper circuit at Rs 463.65 on the BSE. At this stock price, the company had a market-cap of Rs 72,515 crore.

On the other hand, Adani Ports and SEZ, which was trading flat at Rs 348.55 at 9:17 AM, has the market-cap of Rs 70,817 crore, exchange data shows. In comparison, the S&P BSE Sensex was up 0.5 per cent at 35,086 points.

In the overall market-cap ranking of listed companies, Adani Green Energy stood at 38th position. It is ahead of Pidilite Industries, Godrej Consumer Products, Dr Reddy’s Laboratories, Divis Laboratories and Mahindra & Mahindra.

Adani Green Energy is trading at its all-time level price has outperformed the market in the past month by surging 93 per cent, as compared to 14 per cent rise in the S&P BSE Sensex.

On June 9, 2020, Adani Green Energy said that it had bagged “the world’s largest solar tender” from the Union government to construct an 8-gigawatt (Gw) photovoltaic power plant and set up a 2 GW solar cell and module manufacturing capacity in five years. This would entail an investment of Rs 45,000 crore at a time when companies in almost all sectors are looking to cut down capital expenditure.

With this win, the company is now the largest renewable power generator in the country with 15 Gw of renewable capacity under various stages of development. It is followed by ReNew Power with an 8.5-Gw capacity and Azure Power with a 6.5-Gw capacity.

Adani Green, so far, has 2.5 Gw of operational and 3.5 Gw of under-construction solar and wind power capacity in the country. It also has 1.3 Gw of solar cells and modules manufacturing capacity.

Based on the award agreement the 8Gw of solar development projects will be implemented over the next five years. The first 2Gw of generation capacity will come online by 2022 and the subsequent 6gw capacity will be added in 2Gw annual increments through 2025.

 


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