The shares of this Adani Group stock engaged in renewable power generation and other ancillary activities comes into focus after the company’s wholly owned subsidiary commissions a 250 MW solar power plant in Rajasthan.
Stock Performance
With a market capitalization of Rs 1,44,915.21 crore, Adani Green Energy Ltd rose over 1 percent in Thursday’s trading session and made an intraday high of Rs 921.60 per share compared to its previous closing price of Rs 911.10 per share. The shares retraced and were trading at Rs 915.05 which is slightly higher than the previous close.
What Happened
Adani Green Energy Twenty Four Limited, a wholly-owned stepdown subsidiary of the company, has successfully commissioned a 250 MW solar power plant in Bhimsar, Rajasthan. With this new project, Adani Green Energy’s total installed renewable energy capacity has now reached 12,841 MW.
Company Overview
Adani Green Energy Limited (AGEL) is focused on renewable power generation. It develops, builds, owns, operates, and maintains utility-scale solar, wind, hybrid projects, and solar parks. It operates in 91 locations across India, catering to local, state, and national markets. The company, along with its subsidiaries, sells power through long-term power purchase agreements (PPA) and on a merchant basis.
Key milestones
The company developed the largest single location solar power plant of 648 MW in Tamil Nadu within a record time of 8 months. Adani Green has an ambitious vision to develop its renewable energy capacity to 45 GW by 2030 aligned to India’s decarbonization goals.
Financial Performance
Looking at the financials, the company reported a muted 2 percent increase in revenue from Rs 2,311 crore in Q3 FY24 to Rs 2,365 crore in Q3 FY25. This was accompanied by a massive 85 percent increase in net profits from Rs 256 crore to Rs 474 crore during the same period.
Written by Shwetha Sairam
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
