InvestorQ : Why is Adani Green seeing such a sharp rally? Is it because it is buying assets from Zee group?
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Why is Adani Green seeing such a sharp rally? Is it because it is buying assets from Zee group?

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Anu Biswas answered.
3 years ago
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The stock of Adani Green has shown a fantastic rally in the last three months and is up by nearly 200%. Recently, the $360 million bond issue of Adani Green had also seen a lot of interest from buyers in the international markets. Earlier, it may be recollected that the Adani Group had signed an agreement in August this year to acquire the 205 MW of operational solar assets for Rs 1,300 crore from the beleaguered Essel Group owned by Subhash Chandra. Essel Group’s total solar energy portfolio consists of 685 MW of installed and under-construction projects. At the time of deal, Essel Group said it was also in talks to sell the remaining assets and now the Adani Group has agreed to buy them. This has certainly buoyed the sentiments around the Adani Green Stock.

Even otherwise, the company has been consistently creating a portfolio of high quality solar and other alternate energy assets. This has been one of the reasons for the rally in the stock in the last one year.

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