The project has a power purchase agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) at Rs 2.44/kWh (unit) for 25 years
Shares of most of his firms have surged, including those of his mining, gas and ports units
With a free float of about 21%, Adani Green is one of the most illiquid stocks in the Nifty 100 gauge, data showed
Shares in Adani Green Energy have soared three-fold since the signing of the 8 gigawatt (GW) multi-plant deal
Meanwhile, Dr Reddy's Laboratories, Cipla, Infosys, HCL Technologies were up between 25 per cent and 75 per cent.
For H1FY21, Adani Green Energy had reported a strong 69 per cent jump in cash profit at Rs 593 crore
All that happened in the markets today.
Adani Green Energy on Wednesday reported over 82 per cent decline in its consolidated net profit to Rs 17.57 crore in September quarter mainly due to higher expenses
AGEL's m-cap is now higher than that of private sector majors like HDFC Life Insurance Company, Sun Pharmaceutical Industries, Titan Company and Dabur
The JV company has completed this transfer of the assets at an enterprise valuation of Rs 1,632 crore
Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar. Adani Green Energy Twenty Three Ltd -- a joint venture of Total Solar Singapore Pte Ltd and Adani Green Energy Ltd -- will buy the assets from Adani Green Energy Ltd. According to a combination notice filed with the watchdog, Adani Green Energy Twenty Three Ltd will acquire 100 per cent shareholding of ten target companies. Adani Green Energy Ten Ltd is the holding entity of the target companies. In a tweet on Tuesday, CCI said it has approved "acquisition of solar energy generation assets by Adani Green Energy Twenty Three Ltd - a joint venture of Total Solar Singapore Pte. Ltd. & Adani Green Energy Limited". Pursuant to the proposed combination, AGE23L will acquire 100 per cent of the share capital of Adani Green Energy Ten Ltd (AGE10L), which is the holding entity of the target companies.
All that happened in the markets today
According to Adani Green, this is the company's first operational portfolio acquisition
Economists caution that the demand for goods and services could taper off in the months ahead
The company is also Adani Group's most valued firm in terms of market valuation
In the past year, AGEL's share price has rallied 1,230 per cent against 4 per cent rise in the S&P BSE Sensex
The Adani Group company's stock has rallied 1,173 per cent in a year
Funds to be raised as revolving construction finance for upcoming 12 Gw renewable projects
Adani Green Energy on Friday posted a consolidated net profit of Rs 21.75 crore for June quarter mainly on the back of higher revenues
The company is scheduled to announce its April-June quarter (Q1FY21) result on Friday, September 11.