Adani Green Energy share hits all-time high as group ranked top solar power generator globally

Share price of Adani Green Energy hit a fresh all time high today after the Gautam Adani-led group was ranked top solar power  generator  globally. As per latest ranking of global solar companies by Mercom Capital, Adani  Group  was placed at top slot for global  solar  power  generation  asset  owner  in  terms  of  operating,  under construction  and  awarded  solar  projects.

Adani Green Energy share price rose 10% intra day to Rs 498.95, its fresh all-time high against previous close of Rs 453.60 on BSE. Adani Green Energy share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

In one year, the share has gained 974.46% and risen 198% since the beginning of this year. In a month, the share has gained 45.72%. Total 4.69 lakh shares changed hands amounting to turnover of Rs 22.54 crore on BSE. Adani Group firm's market capitalisation rose to Rs 77,637 crore on BSE. ,

After hitting upper circuit of 10% , the share closed 9.44% or Rs 42.80 higher at Rs 496.40.

"Adani's  renewable  energy  portfolio  exceeds  the  total  capacity installed by the entire United States solar industry in 2019 and will displace over 1.4 billion tonne of carbon dioxide over the life of its assets.  The group is one of the most fully integrated solar players in the world, manufacturing solar cells and modules, undertaking project development, construction, financial structuring and owning and operating its assets through its robust internal asset management platform," the  Adani Group firm said.

Sensex closes 272 points higher, Nifty at 11,470; Bharti Airtel, Hindalco top gainers

In Q4 of last fiscal, the firm posted a consolidated net profit of Rs 55.64 crore helped by lower expenses. The clean energy firm had logged a consolidated net loss of Rs 94.08 crore in the corresponding quarter a year ago.

Meanwhile, Indian equity market ended in green led by gains in Bharti Airtel after the Supreme Court gave verdict on AGR dues. Sentiment was also supported by positive manufacturing activity in August. Sensex ended 272 points higher at 38,900 and Nifty gained 82 points to 11,470.

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