Adani Power Stock: Shares of Adani Power, the power company of Adani Group, are performing tremendously. The company’s shares closed at Rs 259.20 on the BSE, up 4.98% on Friday. The shares of the company have doubled in the past one month. Shares of this company of Gautam Adani reached a new high of Rs 259.20 with a gain of 5 per cent on the BSE in Friday’s intra-day trade. With this rally, the stock has jumped 109 percent in the last one month from the level of Rs 123.75.
That is, an investment of Rs 1 lakh in this stock a month ago would have now become Rs 2 lakh. With this, Adani Power made its place in the list of top-50 most valuable companies in terms of market cap. According to market experts, the target price of this stock is Rs 282.
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A company with a market cap of Rs 1 lakh crore
Meanwhile, Adani Power is also all set to join the club of companies with a market cap of Rs 1 lakh crore. The company’s market cap stood at Rs 99,972 crore as of 10:19 am on Friday, BSE data shows. In comparison, the S&P BSE Sensex was down 0.89 per cent at 57,396.
According to the data, Adani Power ranked 49th in the overall market-cap ranking, beating personal products company Dabur India (Rs 98,470 crore) and real estate major DLF (Rs 95,052 crore).
Adani companies Adani Power is the sixth company of the Adani Group to be included in the Top 50 Most Valuable Listed Companies. Adani Green Energy (Rs 4.44 trillion), Adani Transmission (Rs 2.92 trillion), Adani Total Gas (Rs 2.66 trillion), Adani Enterprises (Rs 2.51 trillion), Adani Ports and Special Economic Zone (Rs 1.85 trillion) are among others. Each has a market cap of over Rs 1 trillion. At the same time, the recently listed Adani Wilmar is ranked 52nd in the overall ranking with a market cap of Rs 94,493 crore.
About the Company
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread over six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, besides a 40 MW solar power plant in Gujarat.
Adani Power had posted a consolidated net profit of Rs 218.49 crore for the third quarter (Q3FY22) of FY22. The company reported a loss of Rs 288.74 crore while total income stood at Rs 5,593.58 crore as against Rs 7,099.20 crore in the year-ago period.