Adani Green Energy
Gautam Adani’s flagship company Adani Green Energy has made investors rich in a year. Adani Green Energy shares have given 12 times or 1108 per cent returns in a year. In this context, an investment of Rs 9 lakh in the stock became Rs 1.08 crore. This year, where there was pressure on the best stocks due to the coronavirus epidemic, Adani Green has reached its 1-year high. Recently, Adani Green received a manufacturing linked solar contract from Solar Energy Corporation of India (SECI) to develop an 8 GW project.
Adani Green Company with 1 Lakh Crore Market Cap
Today, Adani Green shares witnessed a spectacular boom. The stock today rose by 5 per cent to Rs 670.80. This is a 52-week high for the stock. With this price, the company’s market cap has reached 1.04 lakh crore. That is, the company joined the club with a market cap of 1 lakh crore. 1 year ago, on 16 September 2019, the share price was Rs 55.55, which rose 12 times to Rs 671. In this context, it has got 1108 percent return in just 1 year.
In terms of market cap, the company has overtaken Bajaj Finserv, Hindustan Zinc, Bharat Petroleum, PowerGrid, ONGC, NTPC, Britannia Industries and Dabal India Limited.
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Bumper profits even during the Corona period
Adani Green Energy, a company under the Adani Group led by Tam Adani, reported a net profit of Rs 21.75 crore in the first quarter of the current financial year. Last year, in the April-June quarter of 2019-20, the company was at a loss of Rs 97.44 crore. The total income of the company during this period has been Rs 878.14 crore. Income was Rs 675.23 crore in the same quarter last year. The company’s total exports (of electricity) also increased by 24 percent to 138.2 million units during this period.
In the renewable energy sector
The company works in the renewable energy sector. On the impact of the Covid-19 crisis, the company said that it has not had much impact on its business and financial condition. In this regard, Chairman of the company Gautam Adani said that the increasing domestic and global demand for clean technology has changed the direction of clean energy in the country and has given it momentum. In April this year, French energy company Total SA invested Rs 3707 crore for a 50 per cent partnership in the company. Under this partnership, 2.148 GW operating solar power project will be prepared in 11 states of the country.
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Source: www.financialexpress.com
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