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Ambitious Expansion Target, This Adani Group Stock Up 98% In 2022, Amid Bearish Market: See What's Driving
The share price of Adani Transmission Ltd. has given a sharp gain to its investors, consistently. Significantly, this year, this large-cap company's share price has surged by 97.85%, amid a bearish to flat market trend due to many reasons like the global market situation and interest rate hikes. Today, on August 2, the company's share price has again reached a fresh 52-week high range.
Adani Transmission Ltd. is one of the largest private transmission companies in India that has a portfolio of more than 18,500 circuit km of transmission lines and around 38,600 MVA of power transformation capacity. The company has set an ambitious target to set up 20,000 circuit km of transmission lines by 2022 by leveraging both organic and inorganic growth opportunities, according to the management.
Stock to Watch: NSE performance
The current market price of Adani Transmission Ltd. stood at Rs. 3,425/share on NSE, gaining by 5%, till last traded. In the last 5 days, the share price of this company has surged by 14.33% on NSE, and in the last 1 month, its share price has surged by 41.35%. In the past 6 months, its stock price has surged by 70.72%. In the last 1 year its stock price gained by 275.75%.
The 52-week high level of this stock is Rs. 3,442, and the 52-week low level of this stock is Rs. 885.
| Market capitalization | Current market price | 1 Year performance | 6 Months performance |
|---|---|---|---|
| Rs. 381,660 crore | Rs. 3,425 | 275.75% | 70.72% |
Financial performance & about the company
According to data available with NSE, in Q4 FY22, the company's total income stood at Rs. 5,488.00 lakh, as against Rs. 4,499.00 lakh in the previous quarter. The company's profit before tax or PBT was reported at Rs. 227.00 lakh in Q4 FY22, as against Rs. 76.00 lakh in Q3 FY22. The company's net profit was reported at Rs. 169.00 lakh in Q4 FY22, as against Rs. 48.00 lakh in Q3 FY22. Incorporated in 1936, Beardsell currently has 7 manufacturing units across India and branches in all the major cities.
Adani Transmission Ltd. (ATL) is headquartered in Ahmedabad in Gujarat. The company owns and operates various High voltage AC transmission lines and substations of 132kV, 220kV, 400kV, 765kV voltage level and also High Voltage DC transmission lines and substations of +/- 500kV voltage level. Additionally, the distribution arm of Adani Transmission Ltd., Adani Electricity Mumbai Ltd. is India's largest private sector power distribution utility, distributing electricity for over 9 decades in Mumbai. Adani Electricity meets close to 2,000 MW of power demand.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article.
