Till the afternoon of Friday’s trading session, the Nifty 50 was trading higher by 14.5 points or 0.09% at 15,953. The BSE Sensex gained 37.06 points or 0.06% and was at 53,455.53.
With markets trading in the green, here are two Adani group stocks that have reached a fresh 52-week high today.
Adani Enterprises Ltd
The shares of Adani Enterprises Ltd rallied as soon as the markets opened and touched their 52-week high of Rs 2,422.95. In the last five days, the stock has gained more than 2.8%. So far this year, the stock has gained more than 38%.
A year ago, the stock was trading at Rs 1407 a piece, from there it has rallied more than 70% to trade at the current levels. The stock has given a multi-bagger return of 1,590.16% in the last five years.
Adani Enterprises Ltd (AEL) is one of the fastest-growing diversified businesses providing an extensive range of products and services. It operates as an incubator, establishing new businesses in transport & logistics and energy & utility sectors, apart from increasing its focus on direct-to-consumer businesses.
One of the reasons for the rally is its announcement to enter the 5G space in India. The company doesn’t plan to offer consumer mobility. Instead, it is bidding for the 5G spectrum to use it as a private network for its Ports and logistics business.
In FY22, the revenue of the company stood at Rs 69,420 Crores which is up by 76% from the year-ago period when it earned Rs 39,537 Crores. The net profit of the company however declined to Rs 475 Crores from Rs 746 Crores in FY21.
Adani Transmission Ltd
The shares of Adani Transmission Ltd also rallied as soon as the markets opened and touched their 52-week high of Rs 3,015. In the last five days, the stock has gained more than 13%. So far this year, the stock has given a return of more than 68%.
A year ago, the stock was trading at Rs 980 a piece, from there it has rallied to the current levels thereby giving a multibagger return of more than 195% in a year. And in the last five years, the stock has scaled by more than 2,139%.
Adani Transmission Ltd is one of the largest private sector power transmission companies operating in India. The company operates a cumulative network of 12,200 circuit kilometres, and more than 3,200 circuit kilometres are under various stages of construction across the country.
As per analysts, the stock has been rallying based on technical metrics.
In FY22, the company reported total revenue of Rs 11,257 Crores which is an increase of 20% from the previous year when it earned Rs 9926 Crores. The net profit of the company was Rs 1235 crores as against Rs 1289 Crores in FY21.
Written by – Anoushka Roy
Disclaimer
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