23 Mar , 2021 By : kanchan joshi
MUMBAI: Adani Green Energy Ltd on Monday hit Rs2 trillion in market capitalisation, after its shares hit a record high. Having soared nearly 870% in last one year, the stock is now the most valued in Adani Group.
At 09:17am, shares of Adani Green traded at an all-time high Rs1,313.60 apiece on the BSE.
Interestingly, the stock has no coverage from any analyst.
Shares hit the upper circuit for the second consecutive day on Tuesday after the company said its subsidiary has won a letter of award for a 300 MW wind power project from Solar Energy Corp of India. The fixed tariff for this project is Rs2.77/kWh for a period of 25 years.
With this, Adani Green's total renewable capacity stands at 15165 MW, of which 3395 MW is operational and 11770 MW under implementation.
On Saturday, the company said it has signed a definitive agreement with Toronto-headquartered SkyPower Global for acquisition of 100% stake in a special purpose vehicle (SPV) that owns 50 MW operating solar assets in Telangana.
Surajkiran has a 50 MW operating solar project located at Junthula and Pansoor, both in Telangana, which was commissioned in October 2017. It has a long-term power purchase agreement (PPA) with Southern Power Distribution Company of Telangana at Rs5.37/kWh.
Meanwhile, Adani Total Gas also touched Rs1 trillion in market cap after its shares touched an all-time high. The stock has skyrocketed nearly 900% in last one year.
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