Adani Power became the sixth Adani Group company to reach a market capitalisation of Rs 1 trillion on Monday. The increase in market capitalization came after the stock reached a 5-percentage-point high on Monday. The large cap stock has risen 5% to Rs 272.15, from a previous close of Rs 259.20 on the BSE.
The company’s market capitalization was Rs 1.04 lakh crore. In the afternoon session, 51.92 lakh shares of the company changed hands, resulting in a turnover of Rs 141.06 crore.
The stock has risen by 210 percent in a year and is expected to rise by 173 percent in 2022. The stock of Adani Power is trading above its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages. In one month, the stock has risen by 90%. The stock has gained 17% in the last four sessions.
Adani Power was added to the list of the top 50 most valuable companies in terms of market capitalisation on Friday.
In the most recent session, the company’s market capitalization reached Rs 99,972 crore. On Friday, the stock reached a high of Rs 259.20. Adani Power announced on March 23 that its board of directors had approved an amalgamation scheme for the merger of its six wholly owned subsidiaries with itself.
Emkay Global predicted last week that Bank of Baroda, Tata Elxsi, NMDC, Adani Power, and AU Small Finance Bank would be included in the MSCI (Morgan Stanley Capital International) India Standard Index. According to Emkay’s estimates, the inclusion of these five stocks could result in a total inflow of Rs $485 million.
Adani Power announced on March 23 that its board of directors had approved an amalgamation scheme for the merger of its six wholly owned subsidiaries with itself.
Also Read: Being Fifth Richest In The World, Does Adani’s Wealth Help Small Investors?
