Adani Group Stocks Soar: Adani Power Surges 19%; Here’s Why the Stocks Are Rocketing

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Why Are Stocks Rising? Adani Group Stocks Are Rocketing: Adani Power Surges 19%.

Shares held by different firms of Adani Group increased between 5% to 19%, with a major increase on January 14, during the intraday session on the BSE. There are five Adani Group companies out of the top gainers in the BSE 500 and their shares have also increased between 3% – 6% alongside the previously mentioned companies. The BSE Sensex on the other hand, has shown an increase of 0.47%, trading at 76,686 around 10:15 AM.

Adani Power Share Price Increases by 19%

Over the course of the market, Adani Power share price increased by 19% reaching ₹537 on BSE. The increase can be accounted by the increase in trading volume by over 2 folds – almost 12.8 million equity shares traded on both NSE and BSE. Previously, the share prices had decreased by more than 16% in the last two weeks.

Adani Energy Solutions Grows up 12%

The shareholding in Adani Energy Solutions Ltd., was noted to have risen 12% as it was previously observed to be trading at ₹ 775.45. Subsequently, there has been an update on Adani Energy’s quarterly earnings resulting in the share price increasing by 13%.

The increase in stock price has positively impacted Adani’s market cap which is estimated to be around ₹86,336 crores. Nevertheless, this stock remains significantly lower than the value of ₹1,347 which was the 52-week high while the lowest recorded value was ₹588.25. Over the last year, Adani Energy stock has depreciated around 40% while the BSE Sensex has increased by 5.1% over the same period.

Key Updates on Adani Energy from 2022

According to the third quarter update, Adani Energy reported an increase of 29.7% on the transmission network or circuit kilometers which reached over 26,485. There has also been an increase in the company’s power transmission capacity to 84,286 MVA in the December quarter from 54,661 MVA in the same quarter last year. However, year over year there has been a marginal dip in transmission availability of 99.21%.

In the third quarter of this fiscal year, the company increased its collection efficiency from 101.29% to 102.57%. Adani Energy Solutions gained a net addition of 0.01 million consumers to 3.17 million over the previous year’s figure of 3.16 million.

Also Read : Solar91 Cleantech IPO Under BSE Investigation: ₹106 Crore Public Issue Postponed

More on Adani Energy Solutions

Adani Energy Solutions is a subsidiary of Adani Group that offers specialized energy solutions across different segments of the energy value chain. With an aim to cover the widening power deficit in India, the company subscribes for renewable energy and undertakes sustainability endeavors.

Table of Contents

• Why Are Stocks Rising? Adani Group Stocks Are Rocketing: Adani Power Surges 19%.
• Adani Power Share Price Increases by 19%
• Adani Energy Solutions Grows up 12%
• Key Updates on Adani Energy from 2022
• More on Adani Energy Solutions