Adani Power crosses Rs 1-lakh-crore market cap, becomes 6th group firm to do so
Adani Power shares have increased by more than 165% this year, with a rise of 46% in April alone. The company joined the top 50 most valuable corporations in terms of market capitalization on Friday.
FollowAdani Power became the sixth firm in the group to reach a market capitalization (M-cap) of Rs 1 lakh crore, as the stock reached an all-time high. According to the BSE, the firm's shares increased 5% from its previous close on Monday to Rs 270.80.
According to press sources, Adani Power shares have increased by more than 165% this year, with a rise of 46% in April alone. The company joined the top 50 most valuable corporations in terms of market capitalization on Friday. Previously, the Adani Group's five other firms — Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Enterprises, and Adani Ports and SEZ — had attained the milestone.
Adani Green Energy has a market capitalisation of Rs 4.44 lakh crore, Adani Transmission has a market capitalisation of Rs 2.92 lakh crore, Adani Total Gas has a market capitalisation of Rs 2.66 lakh crore, Adani Enterprises has a market capitalisation of Rs 2.51 lakh crore, and Adani Ports and Special Economic Zone has a market capitalisation of Rs 1.85 lakh crore. Other companies have a market capitalization in excess of Rs 1 lakh crore.
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Power company stocks have surged since the beginning of the year on hopes that power generation businesses will report solid fourth-quarter earnings. Power consumption has also increased across the country as temperatures have begun to rise since mid-March. As a result, the gap between electricity demand and supply grew.
According to news sources, Adani Power recently collected dues with interest from Rajasthan's state-run discom. The overall investment is Rs 3,000 crore. The boom in the power industry may be seen after several power sector reforms were implemented to bring efficiency and discipline to the sector.
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