A story of multi-bagging stock! Adani Green becomes the 10th most valuable company

On Dalal Street, Adani Green closed at 2701.55 each skyrockets by 377.60 or 16.25%. At the current share price, the company’s market valuation was 4 22,526.28 crore.

During trading hours, shares hit a new 52-week high of 2788.70 each before correcting.

At a market capitalization of more 4.22 lakh crore, Adani Green has become the tenth most valuable company on the stock market. It would also be the only non-Sensex company to enter the top 10 largest market caps on BSE.

Adani Green edged out telecommunications giant Bharti Airtel to grab tenth place. Until last week’s trading session, Airtel ranked tenth among the top 100 companies by market capitalization.

Bharti Airtel shares on BSE closed at 757.90 each per 4.25 or 0.56%. Stocks touched an intraday high and low of 765.15 each and 755.35 each. At the closing price, the market capitalization of the telecommunications operator is 4,16,240.75 crore.

Last week on Friday, Airtel’s market capitalization was at 4 18,574.86 crores to 2323.95 each.

That said, while Airtel recorded a profitable booking today, Adani Green on the other hand was on a buying spree.

Adani Green is also a multi-bagger as he recorded triple-digit percentage growth in one year. Considering today’s 52-week high, the company’s shares have soared nearly 157% on D-Street. The shares were at 1085.8 each on April 12 last year.

So this year, where the markets experienced a sharp correction due to continued inflationary pressure, the third wave, soaring oil prices, rising commodity prices, rising food prices, not to mention the Russian-Ukrainian war, which escalated in late February, added to the woes heavily. Amidst all this, Adani Green has been among the top picks in the green energy segment.

Building on the stellar performance of Adani Group stocks, including multi-bagger Adani Green, chief Gautam Adani’s net worth has risen, surpassing the wealth of former Microsoft CEO Steve Ballmer and co-founder Larry Ellison. from Oracle Corporation.

Gautam Adani ranks 8th in the Bloomberg Billionaire Index with a net worth of $110 billion, while Ballmer and Ellison were in ninth and 10th places with wealth of $104 billion and $102 billion. Adani’s wealth increased by $3.09 billion in the latest change, while year-to-date his net worth has soared by $33 billion.

The only Indian businessman competing with Adani would be Mukesh Ambani, the boss of RIL which is the largest company by market capitalization. Ambani ranks 11th with a net worth of $97.5 billion.

Adani’s portfolio companies aim to invest more than $50-70 billion in the renewable energy value chain and have committed 70% of planned CAPEX through 2030 to energy transition.

In the latest development, Abu Dhabi-based International Holding Company PJSC (IHC) plans to invest $2 billion in principal capital in three Adani portfolio companies – Adani Green Energy (AGEL), Adani Transmission (ATL) and Adani Enterprises (AEL).

IHC will invest 3,850 crores at Adani Green, while 3,850 crores will be pumped into ATL and 7,700 crores will be infused into AE. The three Adani companies – AGEL, ATL and AEL – are market leaders in their business sectors and cover the green portfolio of the Adani Group. Each of these three companies integrates essential aspects of ESG into their operations.

In December 2021, the company’s energy sales increased 67% YoY to 6,456 million units, while Solar CUF improved 50bps YoY to 22.6% and wind CUF improved by 470 bps year-on-year to 33.2%. Additionally, Power EBITDA increased 56% year-on-year to 2,474 crore with a 160 bps improvement in EBITDA margin to 92.4% in the 9 months of FY22.

In the top 10 most valued companies listed on the BSE, Reliance Industries ranks first with a valuation of 17,65,503.82 crore, while TCS followed with a valuation of 13,52,531.75 crore, and HDFC Bank holds third place at 8 29,723.84 crore.

Other popular companies are – Infosys ( 7,43,183.48), ICICI Bank ( 5,27,898.16), HUL ( 5 08 475.05), SBI ( 4 59,572.87), Bajaj Finance ( 4,44,173.16 crore), and HDFC ( 4 39,449.99 crores).

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About Virginia Ahn

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