Adani Green shoots 62% in eleven days

Adani Green Energy rose 3.49% to Rs 91.80, extending recent gains amid continuous buying support.

Shares of Adani Green Energy surged 62.05% to its current market price of Rs 91.80 in eleven trading sessions from its previous closing low of Rs 56.65 on 1 October 2019.

Meanwhile, the S&P BSE Sensex was up 1205.64 points or 0.53% to 39,257.70.

On the BSE, 3.32 lakh shares were traded in the counter so far compared with average daily volumes of 6.95 lakh shares in the past two weeks. The stock hit an intraday high of Rs 93.5 which is also a 52-week high for the counter. The stok hit an intraday low of Rs 88.75 so far during the day. The stock hit a 52-week low of Rs 30.05 on 18 Feb 2019.

On a consolidated basis, the company reported a net loss of Rs 96 crore in Q1 June 2019 over a net loss of Rs 74.27 crore in Q1 June 2018. Net sales rose 39.95% to Rs 660.81 in Q1 June 2019 over Q1 June 2018.

Adani Green Energy (AGEL), a part of the Adani Group, is one of the largest renewable power generation companies in India. The company builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

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