Why is Adani Green so sharply up in last few days?
Answer
Answer
Adani Green Energy scaled a new high of Rs,1,666 even as the stock rallied by 16% in 2 days post its Q3 business update. The guidance has been quite interesting as it projects 97% growth in sale of energy for the Dec-21 quarter at 2,504 million units for Adani Green. The guidance has also projected strong traction on Solar and Wind portfolios.
AGEL saw an enhancement in operational capacity by 84% to 5,410 MW. The capacity utilization factor (CUF) for solar was 21.9% and for wind energy it was 18.6%. AGEL is already the largest solar power player in the world and its key customers include the Solar Energy Corporation of India (SECI) and NTPC.