Adani Green Energy Ltd (AGEL) on Wednesday said its operational capacity increased by 37 per cent year-on-year (YoY) to 11,609 MW with greenfield addition of 2,693 MW solar and 438 MW wind power plants. In terms of operational performance, sale of energy increased by 23 per cent YoY at 20,108 million units in 9M FY25, backed by robust capacity addition. The company recorded steady growth in generation at a CAGR of 49 per cent over the last four years with increasing proportion of merchant power.
Separately, the company informed exchanges that it has commissioned a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat. "With the commissioning of this plant, AGEL's total operational renewable generation capacity has increased to 11,666.1 MW. Based on the relevant clearances, it was decided at 2:51 p.m. on January 14, 2025, to operationalise the plant and commence power generation from January 15, 2025," it stated.
On the stock-specific front, AGEL jumped 7.19 per cent to hit a day high of Rs 1,080. The scrip was last seen trading 2.93 per cent up at Rs 1,037.10. At this price, it has slipped 38.73 per cent in the past one year.
All listed Adani Group counters have been under focus amid fundraising expectations. Anshul Jain of Lakshmishree Investment said, "Adani shares are rising due to speculative buzz on overseas fundraising expectations when Donald Trump resumes office."
That said, a market expert mentioned that Adani companies are high-beta counters, indicating higher volatility.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "There is a broad-based recovery in the market, which is reflected in Adani stocks. It must be mentioned here that these stocks are high-beta in nature."
AGEL stock saw high trading volume on BSE today as around 8.38 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of Rs 4.16 lakh shares. Turnover on the counter came at Rs 87.86 crore, commanding a market capitalisation (m-cap) of Rs 1,64,533.45 crore.
The counter traded higher than the 5-day, 10-day and 20-day simple moving averages (SMAs) but lower than the 30-day, 50-, 100-, 150-day and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 46.16. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The stock has a negative price-to-equity (P/E) ratio of 2216.66 against a price-to-book (P/B) value of 21.08. Earnings per share (EPS) stood at (-)0.45 with a return on equity (RoE) of (-)0.95.
As per BSE data available till December 2024, promoters held a 60.94 per cent stake in the company.