This Adani group stock zoomed over 100% in one month; do you own it?
In the past one year, the share price jumped from Rs 152 to Rs 300, logging around 100 per cent return in this period.
- Apr 27, 2022,
- Updated Apr 27, 2022 4:20 PM IST
Of late, the shares of thermal power producer Adani Power have been on a roll. The stock hit 5 per cent upper circuit for the fifth consecutive trading session. It closed 5 per cent higher at Rs 300 on BSE. Market cap of the firm rose to Rs 1,15,708.17 crore.
The stock has delivered multibagger returns to its shareholders in just one month. In the past one year, the share price jumped from Rs 152 to Rs 300, logging around 100 per cent return in this period.
The scrip has delivered over 200 per cent return in one year. Long-term investors have made big gains by investing in this stock as it has surged around 800 per cent in the last five years.
Adani Power on Monday became the sixth Adani Group firm to hit a market capitalisation of Rs 1 lakh crore. One key reason behind the rise in stock is the rise in demand for power which has forced power producers such as Adani Power to manufacture with full capacity.
According to a report by Edelweiss Alternative & Quantitative Research, Adani Power is also expected to be included in the MSCI India index and the announcement is likely to be made on May 13.
In March 2022, Adani Power said its board has approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself. "The Board of Directors of Adani Power Ltd at its Meeting held on March 22, 2022, approved, subject to requisite approvals/consents, the Scheme of Amalgamation of various wholly-owned subsidiaries of the company..," a BSE filing said.
As per the filing, the subsidiaries to be merged with Adani Power are Adani Power Maharashtra Ltd, Adani Power Rajasthan Ltd, Adani Power (Mundra) Ltd, Udupi Power Corporation Ltd, Raipur Energen Ltd, and Raigarh Energy Generation Ltd.
These companies are wholly-owned subsidiaries of Adani Power. The Appointed Date of the scheme will be October 1, 2021. The entire assets and liabilities of these six arms will be transferred to Adani Power.
The company reported Rs 218.49 crore consolidated net profit for December quarter 2021-22 against a loss of Rs 288.74 crore in the year-ago period. Total income stood at Rs 5,593.58 crore in against Rs 7,099.20 crore in the corresponding period a year ago.
Of late, the shares of thermal power producer Adani Power have been on a roll. The stock hit 5 per cent upper circuit for the fifth consecutive trading session. It closed 5 per cent higher at Rs 300 on BSE. Market cap of the firm rose to Rs 1,15,708.17 crore.
The stock has delivered multibagger returns to its shareholders in just one month. In the past one year, the share price jumped from Rs 152 to Rs 300, logging around 100 per cent return in this period.
The scrip has delivered over 200 per cent return in one year. Long-term investors have made big gains by investing in this stock as it has surged around 800 per cent in the last five years.
Adani Power on Monday became the sixth Adani Group firm to hit a market capitalisation of Rs 1 lakh crore. One key reason behind the rise in stock is the rise in demand for power which has forced power producers such as Adani Power to manufacture with full capacity.
According to a report by Edelweiss Alternative & Quantitative Research, Adani Power is also expected to be included in the MSCI India index and the announcement is likely to be made on May 13.
In March 2022, Adani Power said its board has approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself. "The Board of Directors of Adani Power Ltd at its Meeting held on March 22, 2022, approved, subject to requisite approvals/consents, the Scheme of Amalgamation of various wholly-owned subsidiaries of the company..," a BSE filing said.
As per the filing, the subsidiaries to be merged with Adani Power are Adani Power Maharashtra Ltd, Adani Power Rajasthan Ltd, Adani Power (Mundra) Ltd, Udupi Power Corporation Ltd, Raipur Energen Ltd, and Raigarh Energy Generation Ltd.
These companies are wholly-owned subsidiaries of Adani Power. The Appointed Date of the scheme will be October 1, 2021. The entire assets and liabilities of these six arms will be transferred to Adani Power.
The company reported Rs 218.49 crore consolidated net profit for December quarter 2021-22 against a loss of Rs 288.74 crore in the year-ago period. Total income stood at Rs 5,593.58 crore in against Rs 7,099.20 crore in the corresponding period a year ago.