Adani Power Shares: Adani Power became the sixth group firm to hit Rs 1 lakh crore market capitalisation as the stock hit an all-time high of Rs 270.80 on Monday and rose as much as five percent from the previous close. Earlier, Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Enterprises, and Adani Ports & Special Economic Zone hit this milestone.
On Friday, the company had entered the list of top-50, most valued companies, in terms of market captialisation (market cap), in the country as the stock price of the company more than doubled in the past one month. Adani Power stood at 49th position in overall market-cap ranking, surpassing personal products company Dabur India (Rs 98,470 crore) and real estate major DLF (Rs 95,052 crore), data shows.
Adani Power is the sixth Adani Group Company that featuring in the elite 1 trillion list. Adani Green Energy (Rs 4.44 trillion), Adani Transmission (Rs 2.92 trillion), Adani Total Gas (Rs 2.66 trillion), Adani Enterprises (Rs 2.51 trillion), Adani Ports and Special Economic Zone (Rs 1.85 trillion) are others have a market cap in excess of Rs 1 trillion each.
Adani Power Share: Price History
Shares have surged over 165 per cent this year and gained 46 per cent this month. Adani Power stocks hit an all-time high of Rs 270.80 on Monday and rose as much as five per cent from previous close.
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat.
“As the largest edible oil manufacturer (~19 per cent share) with access to the global linkages of Wilmar (owns 44 per cent stake), AWL enjoys significant sourcing (strong relationships with leading suppliers, units closer to ports), supply chain and scale advantages over domestic peers to ensure an efficient cost structure that is important for a low-margin business,” analysts at JP Morgan said.
On Monday, several power companies appear to be emerging out of a long hibernation on D-street. Shares of power producers have been outperformers in recent weeks as the jump in demand for electricity coupled with shortages and cheaper valuations have boosted investor appetite in the sector. Tata Power, NTPC and Power Grid are among the top sector picks though some analysts think upsides in the near-term could be limited after the recent run-up.
The BSE Power index is up 22 per cent in last one month. Among the Power index constituents, Adani Power is up 109 per cent in the last one month at Rs 259.20 amid the rally in Adani Group shares. Tata Power has gained 9.5 per cent in last one month. NTPC shares have gained almost 25 per cent since January 1, while Power Grid has risen 10.2 per cent during this period.
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