Adani Green Energy Hits Fresh High; M-Cap Hits Rs. 2.05 Trillion

Shares of Adani Green Energy in Tuesday's trade (March 23, 2021) have hit a fresh 52-week high of Rs. 1314.8 per share on the NSE. The stock is locked in 5 percent upper circuit for the second consecutive day with only buyers in the counter. On Monday, the market capitalization of Adani Green Energy hit Rs. 2 trillion after the stock hit an all time high.

Adani Green Energy Hits Fresh High; M-Cap Hits Rs. 2.05 Trillion

The power-generation and distribution company said its subsidiary unit has bagged a letter of award for a 300 MW wind power project from Solar Energy Corp of India. And the tariff for the project is fixed at Rs. 2.77 per kWh for 25 years period. Hence, the company's total renewable capacity comes to be at 15165 MW, of which 3395 MW is being harnessed and the remaining 11770 MW is under implementation.

Furthermore, on Saturday, the company said it has entered into a definitive agreement with Toronto-headquartered SkyPower Global for completely taking over a SPV that has 50 MW operating solar assets in Telangana.

From an opening price of Rs. 135.25 per share on March 23, 2020, the stock of Adani Green Energy has scaled to levels of Rs. 1314.8 in a year's time , a whopping gain of 870% in stock price. And with it the stock is now the most valued in the Adani Group bucket.

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