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A little over seven years, that's all it took for Ahmedabad-based Adani Green Energy to become not only the first Adani Group stock but also the first non-Sensex stock to take on the big boys in terms of market capitalization on the exchanges. On Wednesday, Adani Green was slightly shy of its record highs, but that did not stop the Gautam Adani-backed company to overtake biggies like HDFC and Bajaj Finance to become the eighth-most valued firm.
Today, Adani Green shares closed at ₹2864.75 apiece skyrocketing by ₹75.35 or 2.70% on BSE. The shares rallied up to the intraday high of ₹2950 apiece before correcting. The shares traded broadly on a bullish note.
The shares were just shy of the 52-week high of ₹2,951.90 apiece that was recorded on April 12 when the company announced its operational data under which it recorded robust growth across verticals.
In just three days of this week's trading session, Adani Green shares have climbed around 27% on the mentioned exchange. While so far this April, the shares have zoomed by more than 52%. In a year, the shares have emerged as multi-bagger, they have risen by a whopping over 165%. On April 13 last year, Adani Green shares were at ₹1113.35 apiece.
The company has announced its operational data for the fourth quarter ending March 2022 (Q4FY22).
In Q4FY22, the company's total operational capacity rises by 56% yoy to o 5,410 MW. In the quarter, sales of energy registered a growth of 84% to 2,971 million units against 1,614 units in the corresponding quarter last year - backed by robust performance in both Solar and Wind portfolios.
Meanwhile, in the quarter under review, the company's solar portfolio CUF stood at 26.4% with 210 basis points improvement year-on-year backed by 100% plant availability. Whereas, wind portfolio CUF was at 23.6% in Q4FY22 with 140 basis points improvement yoy backed by 98% plant availability.
Adani Green today surpassed the market cap of NBFC-giants Bajaj Finance and HDFC who now hold ninth and tenth ranks in the top 10 most valued companies.
On the closing price, Adani Green's market cap stood at ₹4,48,050.99 crore holding the eighth spot on BSE, overtaking Bajaj Finance and HDFC whose market capitalizations stand at ₹4,43,685.79 crore and ₹4,31,028.49 crore respectively.
On BSE, Adani Green is racing towards SBI which currently enjoys the seventh rank in top market capitalized companies. SBI has a market cap of ₹4,61,848.65 crore at today's closing price. The gap between Adani Green and SBI's market valuation is to the tune of ₹13,797.66 crore.
Earlier this week, Adani Green had overtaken Bharti Airtel to hold the tenth spot. However, with Bajaj Finance and HDFC scooting down in the top market capitalization list, Bharti Airtel is now the 11th most valued company with a market cap of ₹4,06,794.46 crore.
Reliance Industries (RIL) stays the leader in terms of the most capitalized company with a market cap of ₹17,26,714.05 crore followed by TCS and HDFC Bank with a market valuation of ₹13,39,688.48 crore and ₹8,12,338.57 crore. Infosys ( ₹7,35,611.35 crore) stood at the fourth rank, while ICICI Bank ( ₹5,29,739.59 crore) at the fifth rank, and Hindustan Unilever ( ₹5,05,737.77 crore) at the sixth rank on BSE.
The strong rally in Adani Green has driven Gautam Adani's net worth as well. Now Adani stands at the sixth rank on Bloomberg Billionaire Index, as of April 13, with a wealth of $118 billion. Gautam's wealth has advanced by a breath-taking $41.1 billion so far this year. Gautam is now richer than search engine giant, Google's founders Larry Page and Sergey Brin who are at the 7th and 8th rank with a wealth of $115 billion and $110 billion respectively.
RIL's chief Mukesh Ambani has held the richest man title in India and Asia for quite a few years until Adani bagged the title under his belt. Ambani has stayed at the 11th rank on the billionaire list with a wealth of $95.2 billion.
Adani Green is a hot stock in the green energy sector. In the latest development, Abu Dhabi-based International Holding Company PJSC (IHC) will invest $500 million as primary capital in AGEL.
Further, Adani Green has raised a $288 million construction facility thereby increasing the construction revolver pool to $1.64 billion. Also, the company has achieved the single-use-plastic free status for 100% of its operational capacity, ahead of the targeted 65% by end of FY22. In Q4FY22, the company has also won the ‘Golden Peacock Award for Sustainability’ for the year 2021 in the Renewable Energy category.
Founded in January 2015, Adani Green currently manages 5,290 MW of wind energy and solar power plants including 46 operational projects in 11 states of India. The company also operates the Kamuthi Solar Power Project, which is one of the largest solar photovoltaic plants in the world.
