Adani Power, engaged in electric utilities trading, reached a new high of Rs 259.20 with a gain of 5 per cent on the BSE in Friday’s intra-day trade. With today’s rally, the stock has jumped 109 per cent in the past one month from the level of Rs 123.75. It also entered the list of top-50, most valuable companies in terms of market capitalization in the country.
The data shows that Adani Power ranked 49th in the overall market-cap ranking, beating personal products company Dabur India (Rs 98,470 crore) and real estate major DLF (Rs 95,052 crore).
Adani Power is the sixth Adani Group company to feature in the top 50 most valuable listed companies. Adani Green Energy (Rs 4.44 trillion), Adani Transmission (Rs 2.92 trillion), Adani Total Gas (Rs 2.66 trillion), Adani Enterprises (Rs 2.51 trillion), Adani Ports and Special Economic Zone (Rs 1.85 trillion) are among others. Each cap of over Rs 1 trillion. The data shows that the recently listed Adani Wilmar is ranked 52nd in the overall ranking with a market cap of Rs 94,493 crore.
Adani Power had posted a consolidated net profit of Rs 218.49 crore for the third quarter (Q3FY22) of FY22. The company reported a loss of Rs 288.74 crore while total income stood at Rs 5,593.58 crore as against Rs 7,099.20 crore in the year-ago period.
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread over six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, besides a 40 MW solar power plant in Gujarat.
As the largest edible oil producer (~19 per cent stake) with access to global linkages of Wilmar (owning 44 per cent stake), AWL is recognized for significant sourcing (strong ties with major suppliers, units close to ports), supply chain And a massive advantage over domestic peers to ensure an efficient cost structure, which is critical for a low-margin business,” said analysts at JP Morgan.
Meanwhile, Adani Power is also all set to join the elite club of companies with a market cap of Rs 1 lakh crore. The company’s market cap stood at Rs 99,972 crore as of 10:19 am on Friday, BSE data shows. In comparison, the S&P BSE Sensex was down 0.89 per cent at 57,396.
On Friday, at 10:34 am, the power shares were trading with a gain. GE Power India Ltd (up 4.27 per cent), NHPC (up 3.47 per cent), Jaiprakash Power Ventures (up 3.25 per cent), Alstom T&D India (up 3.08 per cent), NLC India (up 2.77 per cent), SJVN (up 1.87 per cent) ), Transformers & Rectifiers (India) (up 1.72 per cent), KPI Global Infrastructure (up 1.51 per cent) and JSW Energy (up 1.15 per cent) were among the top gainers.
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