Shares of Asia’s richest man Gautam Adani’s company Adani Green Energy touched a record high of nine per cent during trading today. At the same time, the company is close to being included in the list of top 10 most valuable companies in the country. It is currently ranked 11th. Mukesh Ambani’s Reliance Industries tops the list.
This is the reason behind the rise in shares
The Abu Dhabi-based international holding company is set to invest ₹ 2 billion in three Adani Group companies. Adani Green will invest in Adani Transmission and Adani Enterprises. The stock has seen a rise since the news.
Shares of Adani Green Energy rose nine per cent to Rs 2,350 in the morning trading session, the highest level ever. Earlier on Thursday, it had reached Rs 2,325. However, after a while it softened. At 3 pm it rose 6.67% to Rs. Was trading at 2310. The company’s board is meeting today to consider the fundraising proposal.
close to top-10
With this the market cap of the company has reached close to Rs 3,62,382 crore. Adani Green Energy is the 11th most valuable company in the country. In this list, Reliance Industries has Rs. It is at number one with a market cap of Rs 1,761,370 crore. TCS is second, HDFC Bank third, Infosys fourth, ICICI Bank fifth, HUL sixth, SBI seventh, HDFC eighth, Bajaj Finance ninth and Bharti Airtel tenth.
Adani Green Energy is one of the largest renewable energy companies in the world. The company manufactures solar and wind farm projects. Its main customers include Solar Energy Corporation of India, NTPC and some state power companies. The company has set a target of 45 GW of renewable energy capacity by 2030, which is 10 per cent of the Government of India’s target. The government has set a target of 450 GW of renewable energy in the country by 2030.