Adani Power, Adani Wilmar stocks hit 5% upper circuit today

6 Oct 2022 , 03:02 PM

Adani Wilmar (Rs746.65) and Adani Power (Rs370.30) were stuck in the 5% upper circuit on the BSE, drawing attention to the shares of Adani Group firms on Thursday. Adani Total Gas, Adani Enterprises (AEL), Adani Green Energy (AGEL), Ambuja Cements, Adani Green Energy (AGEL), and Adani Transmission were all trading higher by 2% to 4%. In contrast, at 1:48 PM, the S&P BSE Sensex was up 0.7%, or 58,469 points.

 The market value of three Adani Group firms, Adani Power (up 265%), Adani Total Gas (up 135%), and AEL (up 122%), has more than doubled in the last year. Adani Transmission has increased by 92%, while Adani Green has increased by 822%. The S&P BSE Sensex, in contrast, is down 1.5% during the same time period.

AEL, one of the individual stocks, was up 2.4 % at Rs3,317.50, having risen 5% during the previous two BSE trading days. The stock of the primary business of the Adani Group has declined for seven days in a row and by 15% from September 22 to October 3. From the record-breaking high level of Rs 3,885, reached on September 20, it has decreased by 19%.

With an overall portfolio of 20.4 GW, comprising operational, under construction, and awarded assets serving investment-grade counterparties, AGEL has one of the largest worldwide portfolios of renewable energy. The firm creates utility-scale grid-connected solar, wind farm, and hybrid plants. It also owns, manages, and maintains these facilities. The National Thermal Power Corporation (NTPC), SECI, and different state discoms are some of AGEL’s most important clients.

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