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Adani Green hits fresh all-time high, zooms 944% in Samvat 2076

For H1FY21, Adani Green Energy had reported a strong 69 per cent jump in cash profit at Rs 593 crore

Adani Green Energy | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

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Shares of (AGEL) were locked in 5 per cent upper circuit for second straight day, hitting a fresh all-time high of Rs 941.15 on the BSE on Wednesday on inclusion in MSCI India index. The stock surpassed its previous high of Rs 923, touched on Monday, November 10, 2020.

MSCI Inc, a leading provider of research-based indexes and analytics, announced Tuesday the results of the November 2020 semi-annual index review for the MSCI Equity Indexes. MSCI Inc. will add 12 India stocks including AGEL to its standard index and remove two as part of the semi-annual review of the world’s largest index compiler. All changes will be implemented as of the close of November 30, 2020, it said.

During the current Samvat 2076, AGEL's stock rallied 944 per cent to Rs 941 from level of Rs 90.15 on October 27, 2019. The company also became the first Gautam Adani-led Adani Group company to cross Rs 1-trillion in market capitalisation (m-cap). Currently, commands m-cap of Rs 1.47-trillion and stood at 21st position in overall m-cap ranking.

AGEL is the largest solar company in the world with 12+ GW of operating, in-construction, and awarded solar parks. The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. AGEL and TOTAL SA (TOTAL) had formed a 50:50 joint venture (JV) for 2,148 MW solar power assets in India.

For the first half (April-September) of the current financial year 2020-21 (H1FY21), had reported a strong 69 per cent year-on-year (YoY) jump in cash profit at Rs 593 crore against Rs 352 crore during the same period last fiscal. Revenue from power supply grew 12 per cent YoY at Rs 1,139 crore. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin from power supply expanded 300 basis points to 92 per cent from 89 per cent in H1FY20.

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First Published: Thu, November 12 2020. 10:09 IST