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Business News/ Markets / Stock Markets/  Adani Green shares surge for seventh straight session, stock rises 22% this week
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Adani Green shares surge for seventh straight session, stock rises 22% this week

Adani Green share price has been rising since 6th July 2022

Adani Green Energy Ltd has reported 65 per cent year-on-year (YoY) increase in operational capacity to 5,800MW in Q1FY23 update. (REUTERS)Premium
Adani Green Energy Ltd has reported 65 per cent year-on-year (YoY) increase in operational capacity to 5,800MW in Q1FY23 update. (REUTERS)

Adani Green Energy shares extended its rally on seventh straight day in early morning deals on Wednesday. Adani Green share price today opened upside and went on to hit intraday high of 2338 per share (at 9:20 AM on NSE), logging around 22 per cent rise this week. Adani group stock had closed at 1918.50 apiece levels on NSE on Friday session. Some credit for surge in Adani Green share price today can be attributed to its Q1FY23 update though its provisional in nature. 

The flagship Adani group company has claimed 65 per cent year-on-year (YoY) increase in operational capacity to 5,800MW in recently ended June 2022 quarter. Company's energy sales grew 73 per cent (YoY) at 3,550 mn units in Q1FY23 against 2,054 mn units in Q1FY22.

Adani Green share price history

Adani Green shares have been rising since 6th July 2022 and in last seven sessions, it has surged from 1876.40 to 2338 apiece levels, logging around 25 per cent rise in this time horizon. It is one of the multibagger stocks that Indian stock market has produced in last one year. In last one year, this Adani stock has risen from around 989 to 2338 levels, delivering around 130 per cent return to its shareholders in this time horizon.

In last five years, Adani Green share price has ascended from 29.45 to 2338 apiece levels, logging around 7,625 per cent rise in this period.

Adani Green Q1 update

The Adani group company has announced its Q1 update today. Adani Green announced its first quarter update after sharing the Q1FY23 earning updates with Indian exchanges. In this Q1 earnings update, the energy company has reported sale of Energy increases by 73 per cent YoY at 3,550 mn units in Q1 FY23 against 2,054 mn units in Q1 FY22. Total operational capacity of the company increased 65 per cent YoY to 5,800 MW in recently ended June 2022 quarter while its solar portfolio CUF at 26.5 per cent with 150 bps improvement YoY backed by 100 per cent plant availability.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 13 Jul 2022, 09:24 AM IST
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