Adani Green joins club of 10 most valued firms on BSE
Last updated on April 12th, 2022 at 04:19 am
On Monday, Adani Green Energy has joined the elite list of India’s top 10 most valued firms listed in the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). This was backed by rallying of Adani Green’s share prices by over 16 per cent to close at Rs 2,701.55 per piece, thereby pushing the company’s market capitalization to touch Rs 4,22,526.28 crore.
Adani Green has also become the first non – Sensex company to be a part of the top 10 club on BSE in relation to the market valuation. With this Adani Green has replaced Bharti Airtel to secure the 10th position on the list. Bharti Airtel’s m-cap was Rs 4,16,240.45 crore at the end of trade on Monday.
Talking about the other companies in the elite list: Reliance Industries Limited with a market valuation of Rs 17,65,503.82 crore stands at top of the list becoming the most valued firm in country. It is followed by TCS (Rs 13,52,531.75 crore), HDFC Bank (Rs 8,29,723.84 crore), Infosys (Rs 7,43,183.48 crore), ICICI Bank (Rs 5,27,898.16 crore), HUL (Rs 5,08,475.05 crore), State Bank of India (Rs 4,59,572.87 crore), Bajaj Finance (Rs 4,44,173.16 crore), HDFC (Rs 4,39,449.99 crore) and then Adani Green Energy at the 10th position on the list.
Adani Green Energy has been the hot favorite of investors in the green energy sector. The reason for the company to become talk of the town is its focus on renewable energy. This has made the company a preferred investment bet in market with gains being registered of 1,415 percent since April 2020. The commendable performance of Adani Green Energy is an amalgamation of its recent green energy business as India’s commitment last year at COP26 summit to become a net carbon zero economy by 2070 drives the market.
Furthermore, last week the company further gained confidence of investors through preferential allotment of equity stake to International Holding Co, based in Abu Dhabi. “IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL),” the group led by billionaire Gautam Adani had said in a statement.