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This Adani Stock Gains 1247% In Just 2 Years, Acquiring Finance From Govt. For New Foray
The share price of Adani Enterprises Ltd. has been one of the most profitable stocks for investors among Indian equities. Today, on June 27, its share price closed at Rs. 2,182, gaining by 0.95% than yesterday. This large-cap stock has grown consistently amid a bearish market environment in the Indian equity space, even in the last year.
Returns - NSE market tracker
It is a large-cap company with a market capitalization of Rs. 257,470 crore. The 52-week high level of this stock is Rs. 2,420.95, and the 52-week low level of this stock is Rs. 1,332.75. In the past 6 months, its stock price has gained by 24.61%, and in the past 1 year, its stock price has gained by 43.01%. But, in the past 5 years, in long term, the stock's price has surged sharply by 1,545.55%. From the mid of 2020, the company's share price has seen steep growth. Its share price stood at Rs. 162 on June 26, 2020. Within just 2 years, its share price is being quoted at Rs. 2,182, with a 1246.91% gain.
| Market capitalization | Current market price | 1 year performance | 5 year performance |
|---|---|---|---|
| Rs. 257,470 crore | Rs. 2,182 | 43.01% | 1545.55% |
Company news
The company is planning to develop further with consistent growth. According to a recent statement by the Adani Group, "Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum in two phases." Adani Group has recently stepped into the copper manufacturing sector. It is going to acquire finances from the public sector lenders for 1 million tonnes/year unit in Gujarat. It has executed "Financing documents with the consortium of banks led by State Bank of India (SBI). The other consortium members are Bank of Baroda, Canara Bank, EXIM Bank of India, Indian Bank, Punjab National Bank, and Bank of Maharashtra," the statement added.
In Q4FY22, Adani Enterprises has reported a 30% YoY growth in its net profits. The conglomerate has recorded Rs. 304 crore net profits in Q4FY22, and it stood at Rs. 234 crore in Q4FY21.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
