By Admin 
Adani Power Shares: The new year proved to be good for the shares of Adani Power as its shares rose by 7.1 percent on Thursday, January 1. With this the price of shares has reached Rs 153.20. There is no specific reason for this rise in the company’s shares. However, looking at the company’s long-term growth outlook, it includes growing baseload power demand, large capacity expansion pipeline and better earnings expectations as stated in the recent brokerage report.
50 million shares traded
Recently, Antique Stock Broking had said that Adani Power is entering a ‘multi-year earnings upcycle’ based on expanding capacity by 2.3x in FY33 from 18.15 GW in FY25 and transitioning from a stressed thermal independent power producer to becoming India’s most efficient private baseload operator. During this period there was a significant increase in trading volume also. According to Trendline data, around 50 million shares were traded on both NSE and BSE till 12:45 pm, which is four times more than the average volume in a week.
Shares of many other companies of the group also rose.
However, on the first day of the new year, not only the shares of Adani Power rose, but the shares of many other companies of the group were also seen rising. A rise of up to 9 percent was seen in the shares of some companies. In early trading, all the listed companies of Adani Group were seen trading in the green. Among these, Adani Total Gas Limited remained the topper. On Thursday, its shares jumped more than 9.45 percent to Rs 620.65, taking its total market capitalization to about Rs 67,000 crore.
Apart from these, shares of both Adani Green Energy Limited and Adani Energy Solutions Limited rose up to 3 percent to Rs 1,061.35 and Rs 1,045 respectively. With this, their total market capitalization reached Rs 1.3 lakh crore and Rs 1.7 lakh crore respectively.
Disclaimer: (The information provided here is being given for information only. It is important to note here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. ABPLive.com It is never advised for anyone to invest any money here.)
Also read:
Shares of this small cap company crashed, price fell by more than 85 percent; Outcry among investors