Adani Group Co Defers Crucial Board Meeting On Fundraising, Shares Fall Over 2%

Adani Group company, Adani Green Energy Ltd has decided to defer its crucial board meeting. The board of directors of the company rescheduled the meeting now to May 24. The agenda of the meeting was to consider a proposal to raise funds by selling the stock. Earlier, the meeting was scheduled to be held on May 13. Check details below:

Adani Green Energy Ltd Defers Board Meeting To May 24: According to BSE filing of Adani Green Energy dated May 12, 2023, "This has reference to our earlier intimation dated May 10, 2023, regarding intimation of Board Meeting to be held on Saturday, May 13, 2023. It may please be noted that due to certain exigencies, the meeting of the Board of Directors is now re-scheduled & to be held on Wednesday, May 24, 2023."

Adani Green Energy Stock Performance & Return: The current market price of Adani Green Energy is 876.25 apiece on BSE at 11:10 am on Monday. The stock witnessed 2.20% decline till 11:11 am on May 15, 2023. The stock's 52-week high price is Rs 2574.05 apiece and 52-week low price is Rs 439.35 apiece, respectively. The company has a market capitalisation of Rs 1,38,840.45 crore.

The stock witnessed a decline of 8% in last 2-weeks, 7% in last 1-month, gave 41% return in last 3-months, fell 60% in last 6-months, and 59% in last 1-year span. In last 3-years, the stock jumped 280%.

About Adani Green Energy: The Company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations, according to its official website.