Adani Green Energy left behind companies like Bharti Airtel, Kotak Mahindra Bank and ITC in terms of market cap, but still not included in Nifty 50.
Adani Green Energy Becomes 10th Most Valued Firm in Market Capitalization: Adani Green Energy, a group company of Gautam Adani, one of the country’s largest and most influential industrialists, achieved a big milestone on Monday. The company’s shares increased by 20 percent in a single day, its market capitalization increased to more than 4.22 lakh crores. Due to this boom, it became the 10th highest valuation company in the country. During this, Adani Green pushed Bharti Airtel to number 11 in terms of market cap. Interestingly, Adani Green Energy is not included in the NSE’s flagship benchmark index Nifty 50 despite becoming the tenth highest valuation company.
Adani Green Energy now ahead of Kotak Mahindra Bank and ITC
Shares of Adani Green Energy Ltd (AGEL) on NSE closed at Rs 2786.20 on Monday. Due to this boom, the market cap of the company increased to more than 4 lakh 22 thousand 526 crores, while the market cap of Bharti Airtel remained only 4.16 lakh crores on Monday. The market cap of Adani Green has now exceeded that of the big companies like Kotak Mahindra Bank Ltd and ITC Ltd. Shares of Adani Green have been witnessing a steady rise during the last few years. During 2022 alone, the company’s stock has seen a rally of more than 103 percent so far.
Reliance Industries (Reliance Industries Limited) is the country’s highest valuation company with a market capitalization of more than Rs 17.65 lakh crore among the major companies of India. Veteran technology company TCS (TCS) is second in this list with a market cap of more than Rs 13.52 lakh crore and HDFC Bank is at number three with a market capitalization of about Rs 8.3 lakh crore.
(Input: PTI)
