Adani Green Energy adds over 16% in four days

Adani Green Energy rose 0.59% to Rs 674.60, extending gains for fourth day.

The stock has added 16.39% in four sessions from its recent closing low of Rs 579.60 on 10 September 2020.

The stock has zoomed 1276.73% from its 52-week low of Rs 49 hit on 19 September 2019.

Adani Green Energy had reported a consolidated net profit of Rs 21.75 crore in Q1 June 2020 as against a net loss of Rs 97.44 crore in Q1 June 2019. Total income jumped 30% to Rs 878.14 crore in Q1 June 2020 from Rs 675.23 crore in Q1 June 2019.

The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

The latest ranking of global solar companies by Mercom Capital ranked Adani Group as the number one global solar power generation asset owner in terms of operating, under construction and awarded solar projects. Adani's solar portfolio is 12.32 GWac which exceeds the total installed capacity of the US in 2019 and will displace over 1.4 billion tons of carbon dioxide over the life of its assets.

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