The shares of Adani Transmission Ltd opened at Rs 3,425 on Wednesday and zoomed by 2% to reach its 52-week high of Rs 3,528. Till 12 pm on Wednesday and were trading at Rs 3,471 levels.
In august 2021, the shares of Adani Transmission Ltd were trading at Rs 911 a piece. In a year the price has scaled up to the current levels thereby giving a multibagger return of 279%.
Since the beginning of the year, the stock has been rallying and has delivered a multibagger return of approximately 100% YTD. In the span of a month, the stock has delivered a return of more than 42% to its shareholders. In the last five days, the stock has risen by more than 15%.
With the continuous rally in the stock price, the company has now surpassed fast-moving consumer goods (FMCG) giant ITC and telecom services provider Bharti Airtel in terms of market capitalization (m-cap).
With a market cap of Rs 3,86,635 Crores, Adani Transmission stood at 11th position in the overall market cap ranking of the BSE listed companies as of 10:30 AM on Wednesday.
The company is set to announce its quarter one results for the financial year 2023 today i.e, Wednesday, August 3rd.
The total revenue of the company stood at Rs 11,257 crores in FY22 as against Rs 9926 Crores which it earned in the period a year ago.
Their profits however declined to Rs 1235 Crores in FY22 from Rs 1289 Crores which it earned in FY21.
The promoters of the company hold a 73.87% stake in the company and have pledged 5.9% of their stake. While the Foreign Institutional Investors (FIIs) hold 20.01%.
Adani Transmission Ltd, Part of the Adani group, is an electric power transmission company. Currently, it is one of the largest private sector power transmission companies operating in India.
If an investor would have invested Rs 1 lakh in January the value of the investment would be worth Rs 3.79 Lakhs today.
Written by- Anoushka Roy
Disclaimer
The content in this news article is not investment advice. 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.
