This Adani Group Company Stock Hits All Time High; 6th Gp. Company To Hit Rs. 1 Tn M-Cap

Adani Power shares in trade on April 25, 2022 have hit two milestones of scaling an all time high price of Rs. 272.05 per share and at the same time it has also become the group's 6th company to bag a m-cap of over Rs. 1 lakh crore and traded with a m-cap of Rs. 1,04,619 crore. This is even as the weakness has lurked into the Indian equities on account of weak global cues with Nifty down by over 1 percent at below 17,000.

On a YTD basis, the scrip has zoomed by as much as 172% and in 1 month has rallied over 89%.

Currently there is power crisis looming and since the start of the year, power stocks had a sharp run-up precisely on expectations of better Q4 results. As per a leading business portal news, the company has been in receipt of dues from the state-led discom in Rajasthan of Rs. 3000 crore (this amount is inclusive of the interest on the dues). So, the cash flow situation at the concern has improved.

There is also a view that a number of reforms in the power space have also led to the spike in the share price of Adani Power.

So, as the economic activity has improved and there is more of demand across the value chain, there is high scope of continuous increase in power demand.

Also, as per a PTI report, the current crisis or acute power shortage is on account of the lower power generation and is not the result of coal crisis in the country.

NLC India is another power-generation and distribution stock that is up by over 1%.