05 Oct 2024

Adani Green Energy Rises as Subsidiary Secures Green Power Supply Deal

Adani Green Energy's stock is seeing an uptick, currently trading at Rs. 1809.70, marking a slight increase of 1.15 points or 0.06% from its previous close of Rs. 1808.55 on the BSE.

The stock opened at Rs. 1817.70, reaching a high of Rs. 1837.55 and a low of Rs. 1778.65. A total of 85,160 shares have been exchanged so far.

The 'A' group BSE-listed stock, with a face value of Rs. 10, hit its 52-week high of Rs. 2173.65 on June 3, 2024, and a 52-week low of Rs. 816.00 on October 26, 2023. Over the past week, the stock has fluctuated between Rs. 1989.70 and Rs. 1776.55. The company’s current market capitalization is Rs. 285,054.56 crore.

Promoters hold a 57.52% stake in the company, with institutional and non-institutional investors holding 18.38% and 24.11% respectively.

Adani Renewable Energy Three, a wholly-owned step-down subsidiary of Adani Green Energy, has signed a power consumption agreement to supply renewable energy to a commercial and industrial (C&I) client. The power will be sourced from a newly established 61.4 MW renewable energy facility at Khavda, Gujarat.

Adani Green Energy specializes in building, owning, and operating renewable energy plants using solar and wind power sources.