How did Adani Green Energy enter the list of top-10 most valuable stocks in India in such a short span of time?
Answer
Answer
It has just taken Adani Green just a tad over 7 years to emerge as the 8th most valuable stock on the Nifty based on market cap. Adani Green Energy is not just the first from the Adani Group in the Big Boys list but it is also the first non-Sensex stock to rank in the top companies by market cap. It recently walked past Bharti Airtel, HDFC Ltd and Bajaj Finance in terms of market capitalization.
One of the triggers for the rally was the operational data for the fourth quarter announced by Adani Green Energy. According to the latest data put out by the company, the total operational capacity of Adani Green has risen 56% yoy to 5,410 MW. Even the sales of energy in the fourth quarter was up 84% at 2,971 million units. The growth came on the back of robust performance in both Solar and Wind portfolios.
In the fourth quarter, Adani Green Energy’s solar portfolio CUF stood at 26.4% with 210 basis points improvement on a yoy basis on the strength of 100% plant availability. On the other hand, the wind portfolio CUF was at 23.6% in Q4FY22 with 140 basis points improvement on a yoy basis. With a market cap of 4.48 trillion, the next target for Adani Green is to overtake SBI in terms of market in the last few years.
It is not just the market cap of the Adani group companies but even the net worth of Gautam Adani has grown by leaps and bounds. Gautam Adani currently stands at the sixth place on the Bloomberg Billionaire Index, wealth of $118 billion. His wealth accretion in the last 4 months in the current calendar year has been $41 billion. IN the process, Gautam Adani has also overtaken Larry Page and Sergei Brin of Google in net worth rankings.
Adani Green has seen positive cues on the other front too. For instance, Abu Dhabi-based International Holding Company PJSC (IHC) will invest $500 million via a preferential allotment in Adani Green Energy.