741% Returns In One Year: A Perfect Stock for Investment
Gautam Adani-led Adani Green Energy, a renewable company has grown by over 741% in the last one year. The energy company sealed a manufacturing-linked solar contract with the Solar Energy Corporation of India (SECI) to develop 8 GW of projects. The transaction was valued at ₹45,000 crores or $6 billion on June 8. The share price since then has gone up by 24% to ₹369.
Adani Green Energy was listed in June 2018. The stock has grown from ₹29 to ₹369. The stock has a 52-week high of 486.75 and a 52-week low of 42.50.
Adani Green has a market capitalization of ₹57,947 crores. On June 27, PTI reported that the company has received shareholders' approval to raise ₹2,500 crores. The company also got shareholders' approval to have the flexibility to infuse additional capital to tap capital markets and to raise additional long term resources, if necessary, in order to sustain rapid growth in the business, for business expansion, and to improve the financial leveraging strength of the firm.
For the quarter ended March 31, the company has reported a consolidated sales of ₹692.67 crores, up 38.14 % from last quarter sales of ₹501 crores and up 1.72 % from last year same quarter sales. Adani Green Energy has reported net profit after tax of ₹64.00 Crore in the latest quarter.