Adani Green Energy shares climb 3% despite market selloff; here's why
The 12-month Bloomberg consensus target price for Adani Green Energy stands at Rs 1,570.45, implying around 25 per cent potential upside. The stock has 10 'Buy' recommendations and one 'Sell' call.
- Sep 2, 2026,
- Updated Sep 2, 2026 11:43 AM IST
Adani Green Energy Ltd shares jumped 3 per cent in Wednesday's trade after the renewable energy company said its wholly-owned stepdown subsidiary Adani Green Energy Twenty Six A Limited operationalised a 139 MW solar power project at Khavda, Gujarat. With the operationalisation of the project, Adani Green Energy's total operational renewable generation capacity has reached 20,280.80 MW, while its total operational BESS capacity stands at 3,551 MWh, the Adani group firm informed stock exchanges on Tuesday.
The stock opened at Rs 1,250 apiece on BSE over its previous close of Rs 1,260. It hit a high of Rs 1,296.25 so far. At the day's high, the stock was up 2.88 per cent. The stock's rise came despite a broader market selloff, with the BSE Sensex and NSE Nifty falling nearly 1 per cent each. The Nifty Energy index was up 0.02 per cent, while Adani Green Energy was among the better-performing index stocks.
"Based on the relevant clearances, it was decided at 2.05 p.m. on September 01, 2026 to commercially operationalise this plant," Adani Green Energy said in a release to stock exchanges.
The 12-month Bloomberg consensus target price for Adani Green Energy stands at Rs 1,570.45, implying around 25 per cent potential upside. The stock has 10 'Buy' recommendations and one 'Sell' call.
The stock was also in focus last month after Adani Green Energy said the US Department of Justice (DOJ) had moved to dismiss charges against Gautam S Adani, Sagar R Adani and Vneet S Jaain in the indictment. The US Eastern District of New York subsequently dismissed the indictment against them with prejudice pursuant to its August 10, 2026 order.
"The US DOJ further reviewed the charges and decided in its prosecutorial discretion to dismiss this case," Adani Green Energy said.
To recall, the DOJ had earlier filed a criminal indictment before the US District Court for the Eastern District of New York, charging Gautam Adani and others with alleged securities fraud conspiracy, wire fraud conspiracy and securities fraud.
Adani Green Energy Ltd shares jumped 3 per cent in Wednesday's trade after the renewable energy company said its wholly-owned stepdown subsidiary Adani Green Energy Twenty Six A Limited operationalised a 139 MW solar power project at Khavda, Gujarat. With the operationalisation of the project, Adani Green Energy's total operational renewable generation capacity has reached 20,280.80 MW, while its total operational BESS capacity stands at 3,551 MWh, the Adani group firm informed stock exchanges on Tuesday.
The stock opened at Rs 1,250 apiece on BSE over its previous close of Rs 1,260. It hit a high of Rs 1,296.25 so far. At the day's high, the stock was up 2.88 per cent. The stock's rise came despite a broader market selloff, with the BSE Sensex and NSE Nifty falling nearly 1 per cent each. The Nifty Energy index was up 0.02 per cent, while Adani Green Energy was among the better-performing index stocks.
"Based on the relevant clearances, it was decided at 2.05 p.m. on September 01, 2026 to commercially operationalise this plant," Adani Green Energy said in a release to stock exchanges.
The 12-month Bloomberg consensus target price for Adani Green Energy stands at Rs 1,570.45, implying around 25 per cent potential upside. The stock has 10 'Buy' recommendations and one 'Sell' call.
The stock was also in focus last month after Adani Green Energy said the US Department of Justice (DOJ) had moved to dismiss charges against Gautam S Adani, Sagar R Adani and Vneet S Jaain in the indictment. The US Eastern District of New York subsequently dismissed the indictment against them with prejudice pursuant to its August 10, 2026 order.
"The US DOJ further reviewed the charges and decided in its prosecutorial discretion to dismiss this case," Adani Green Energy said.
To recall, the DOJ had earlier filed a criminal indictment before the US District Court for the Eastern District of New York, charging Gautam Adani and others with alleged securities fraud conspiracy, wire fraud conspiracy and securities fraud.