In the past three months, the stock has zoomed 161 per cent, as compared to 5 per cent decline in the S&P BSE Sensex.
Adani Power's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. Total income of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago, it said in a statement on Thursday. The consolidated net profit for 2021-22 climbed to Rs 4,911.58 crore from Rs 1,269.98 crore in 2020-21. Last fiscal, the company's total income increased to Rs 31,686.47 crore from Rs 28,149.68 crore in the same period a year ago. Gautam Adani, Chairman of Adani Group said that availability of reliable power supply to various sectors across the nation is critical to economic growth. "The Adani Group stands committed to fulfilling India's energy needs in a sustainable, reliable, and affordable manner. Our diversified presence across the energy value chain helps us ensure that this vital input is always available to power the economy,
With Rs 1.05 trillion, Adani Power is the sixth Adani Group company which has touched the Rs 1-trillion m-cap milestone
Adani Power's market cap was at Rs 99,972 crore as of 10:19 am on Friday, the BSE data shows
Adani Wilmar, Adani Power, and Adani Total Gas are expected to see up to 18 per cent upside in the coming sessions
The boards of directors of Adani Enterprises, Adani Transmission and Adani Green are scheduled to meet on Friday, April 8, 2022 to consider the proposal for raising of funds.
Adani Wilmar has surged 61% in the last one month; Adani Total Gas and Adani Enterprises rallied 35 per cent and 33 per cent, respectively.
India's power consumption has grown steadily at 4.6% YoY in March to 126.12 billion units, showing the impact of early onset of summers and easing of lockdown restrictions by states.
Going ahead, technical charts indicate up to 15 per cent gains for the buzzing stocks of Tuesday.
Last week, the company approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself
Shares of Adani Power are likely to be in focus as the company received a favourable verdict from the Supreme Court against power discoms in Rajasthan.
Adani Green Energy rallied 8% to hit a new high of Rs 2,094, and has surged 12% in the past three trading days
Adani group stocks have been in limelight post the stupendous listing of Adani Wilmar four days ago.
In the past seven trading sessions, the stock has rallied 36 per cent after the company announced a provisional operational update for Q3
Coal is almost entirely destined for India, where fossil fuel is used to generate nearly 70 per cent of the electricity.