Adani green stock price: Adani Green stock is one of the multi-dredging stocks in 2022. The price of Adani Green Energy stock rose 9.3 percent to Rs 2,951.90 each on BSE, a new 52-week record, on Tuesday , a day after the company became the 10th most valued company in India. Over the year so far, this share of the Adani group has increased by 110 percent from about Rs 1345 to Rs 2795 each. On Monday, the stock rose more than 16 percent to Rs 2701.55 apiece on BSE. Adani Green Energy has more than doubled investor money so far this year with an increase of nearly 110 percent. The stock price is up 28 percent in five days and 55 percent in the past month. While it has increased by 160 percent in the past year.
Meanwhile, the Nifty Energy Index, of which Adani Green Energy Ltd is a constituent, is up about 13.18 percent in the past month and is currently trading at 28235.25, down 0.23 percent on the day. Volume in the stock stood at 57.12 lakh shares today, compared to the daily average of 13.14 lakh shares over the past month. The stock’s PE is 0 based on TTM earnings ending December 21.
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“We expect the counter to continue its outperformance in the coming trading days with a long-term target of around 15-18 percent,” Ravi Singh, VP & Head of Research, Share India Securities
The company also made it onto the list of top 10 valued companies on Monday as its market valuation stood at over Rs 4.22 lakh crore, supported by a soaring share price. The company commanded a market valuation of Rs 4,22,526.28 crore to take the tenth spot on the top 10 list. The company promoted Bharti Airtel to get into the top 10. The valuation of Bharti Airtel is Rs 4,16,240.75 crore.
The company’s total operating capacity increased 56 percent year-over-year to 5,410 MW, while energy sales grew 84 percent year-over-year to 29.71 crore units in Q4 FY22. The capacity utilization factor of Adani Green’s solar portfolio was 26.4 percent with an improvement of 210 basis points year-over-year, supported by approximately 100 percent plant availability.
The capacity utilization factor of the company’s wind portfolio was 23.6 percent with an improvement of 140 basis points year-over-year, supported by approximately 98 percent plant availability.
International Holding Company, an Abu Dhabi-based conglomerate, will also invest $2 billion in three green-focused Adani Group companies. Santosh Meena, Head of Research, said: “The company recently announced on the exchange that the company’s total operating capacity has increased by 56 percent year-over-year and energy sales have increased by 84 percent over the same period. Adani group also briefed on new investments coming up in the AGEL stating: “By establishing an intergenerational relationship with the Adani group, Abu Dhabi-based International Holding Company PJSC (IHC) will invest approximately USD 500 million (Rs 3,850 crore) invest as primary capital in AGEL.”
The group’s flagship company, Adani Enterprises Ltd, will receive Rs 7,700 crore (USD 1.02 billion) by issuing preference shares to IHC, while Adani Green Energy Ltd (AGEL) and Adani Transmission Ltd (ATL) will each receive Rs 3,850 crore through the same equity instrument, according to the group.
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