Industrialist Gautam Adani
A day ago, the news came that Gautam Adani’s power company will be banned in Maharashtra for 25 years. Renewable and Thermal Energy The supply contract has been received. After that, on Monday, the shares of Gautam Adani’s power companies Adani Green Energy and Adani Power went on a rocket ride. The shares of both have risen by up to 8 percent. According to the data, both companies made a combined profit of about Rs 41 billion in a few minutes. While in other companies fluctuations are seen. Let us also tell you what kind of figures are being seen for both stocks.
Adani Green Energy shares rise
According to BSE data, Adani Green Energy shares have risen sharply. The company’s stock rose by about 8 percent during the trading session and reached Rs 1,929.35. While at the moment i.e. at 1:15 PM, the company’s stock is trading at Rs 1,924.05 with an increase of 7.62 percent. However, this morning the company’s stock opened at Rs 1,851.95. The company’s 52-week high is Rs 2,173.65, which the company had set on June 3.
Adani Power shares rise
On the other hand, there has also been a surge in the shares of Adani Power. The company’s stock rose by 7.53 per cent to Rs 681.30 during the trading session. Currently, the company’s stock is trading at Rs 672.50 with an increase of 6.15 per cent. However, the company’s stock opened with a rise in the morning at Rs 660.95. A day ago, the company’s stock closed at Rs 633.55. However, the company’s stock hit a 52-week high of Rs 896.75 on June 3.
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Two companies made profits of Rs 41 billion.
Due to the surge in the shares of both the companies, there was a huge increase in the market capitalization. Firstly, if we talk about Adani Power, a surge of Rs 18,457.94 crore was witnessed in the company’s market. In fact, the market cap of the company was Rs 2,44,901.07 crore on the previous day which increased to Rs 2,63,359.01 crore. On the other hand, the market cap of Adani Green has increased by Rs 22,414.06 crore to Rs 3,05,615.30 crore. While on Friday the market cap of the company was Rs 2,83,201.24 crore. This means that there has been a combined gain of Rs 40,872 crore in the market cap of both the companies during the trading session.
Adani secures contract in Maharashtra
Adani Group secures long-term power supply of 6,600 MW in Maharashtra Renewable and Thermal Energy The supply contract has been received. The group’s bid of Rs 4.08 lakh per unit for this contract left behind the likes of JSW Energy and Torrent Power. Two sources with knowledge of the matter said Adani Power’s bid for supply of thermal and renewable energy for 25 years is about a rupee less than the rate at which Maharashtra currently has purchasing power. This will help meet the future energy needs of the state. The supply will start within 48 months from the date of submission of the letter of intent.
