Promoters increasing their stake in a company is often viewed as a positive indicator of confidence in the company’s future performance. This trend can reflect the promoters’ belief in the long-term growth potential and stability of the company.
Following are two Adani Group stocks in which Promoter have increased stake by over 3 percent in the September 2024 quarter:
Adani Power Limited
With a market cap of Rs. 2.44 lakh crores, the shares of the largest private thermal power producer in India surged by 0.6 percent on BSE to Rs. 645.65 during the trading session of Monday.
As per the latest shareholding data, the Promoters holding increased by 2.25 percent from 72.71 percent in June 2024 to 74.96 percent in September 2024 in Adani Power.
The company has reported a significant growth in revenue from operations, with around a 35.8 percent YoY rise from Rs. 11,006 crores in Q1 FY24 to Rs. 14,956 crores in Q1 FY25. However, the net profit decreased by 55.3 percent YoY from Rs. 8,759 crores to Rs. 3,913 crores, over the same period.
The stock has delivered positive returns of nearly 92.3 percent in the last one year, as well as around 20.8 percent returns year-to-date.
Adani Power Limited is engaged in the sale of power under long-term Power Purchase Agreements (PPAs), Supplemental Power Purchase Agreements (SPPAs), medium-term PPAs, and short-term PPAs, on a merchant basis and also engaged in trading, investment and other business activities.
Adani Green Energy Limited
With a market cap of Rs. 2.8 lakh crores, the shares of India’s largest renewable energy company surged by 0.66 percent on BSE to Rs. 1,803.9 during the trading session of Monday.
As per the latest shareholding data, the Promoters holding increased by 3.42 percent from 57.51 percent in June 2024 to 60.93 percent in September 2024 in Adani Green Energy.
The company has reported a significant growth in revenue from operations, with around a 31 percent YoY rise from Rs. 2,162 crores in Q1 FY24 to Rs. 2,835 crores in Q1 FY25. Similarly, the net profit increased by
around 94.7 percent YoY from Rs. 323 crores to Rs. 629 crores, over the same period.
The stock has delivered positive returns of nearly 88.7 percent in the last one year, as well as around 10.8 percent returns year-to-date.
Adani Green Energy Limited is engaged in the sale of power generated from a 12 MW wind power project under a long-term Power Purchase Agreement (PPA), along with the sale of solar & wind power equipments, Project Management Consultancy Services and other related ancillary activities.
Written by Shivani Singh
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