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Multibagger Adani Green shares rise 50% in one month. Why is this stock rallying

Multibagger stock: Abu Dhabi based International Holding Company PJSC (IHC) will invest around USD 500 mn ( ₹3,850 crore) as primary capital in Adani Green Energy Limited. Photo: Courtesy Adani Green Energy LimitedPremium
Multibagger stock: Abu Dhabi based International Holding Company PJSC (IHC) will invest around USD 500 mn ( 3,850 crore) as primary capital in Adani Green Energy Limited. Photo: Courtesy Adani Green Energy Limited

  • Multibagger stock: In year-to-date time,  Adani Green share has risen to the tune of 110 per cent, surging from around 1345 to 2795 apiece levels

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Adani Green shares are one of the multibagger stocks in 2022. In year-to-date time, this Adani group stock has risen to the tune of 110 per cent surging from around 1345 to 2795 apiece levels. However, this could become possible after the sharp upside move in Adani Green share price in last one month. In this period, this multibagger stock of 2022 has surged from 1822 to 2795 per share levels, clocking more than 50 per cent rise in this time.

As per exchange communication by Adani Green Energy, company's total operational capacity has surged 56% YoY to 5,410 MW in Q4FY22. Its YoY energy sale in the same quarter shot up 84 per cent at 2,971 mn units against 1,614 mn units in Q4 FY21.

Adani group management also informed about fresh investment coming into the AGEL citing, "Initiating an inter-generational relationship with Adani group, Abu Dhabi based International Holding Company PJSC (IHC) will invest around USD 500 mn ( 3,850 crore) as primary capital in AGEL. This will help deleverage the balance sheet, strengthen the credit rating profile thereby helping reduce the cost of capital and support future growth."

Adani Green Energy Limited also claimed generating USD 288 mn construction facility thereby increasing the construction revolver pool to USD 1.64 bn in recently ended quarter.

On the basis of these positive fundamentals, Adani Green shares have been rallying since beginning of the new year 2022. Today, it is India's 10th most valued firm with market capitalization of 4,41,826 crore or 4.41 lakh crore. yesterday, Adani Green Energy entered this elite list leaving Bharti Airtel, Kotak Mahindra Bank, ITC, Wipro and HCL Tech behind. Reliance Industries Limited or RIL is the most valued Indian company with a market capital of 17.38 lakh crore.

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