In Thursday’s trading session, the shares of one of the leading Adani stock primarily focused on generating clean energy through solar, wind and hybrid power projects almost jumped upto 8 percent upon receiving a new work order for commissioning of a 250 MW solar power project in Rajasthan.
Price action
With a market capitalization of 1,81,862 Crores on Thursday, the shares of Adani Green Energy Ltd jumped upto 8 percent making a high of Rs 1249 compared to its previous closing price of Rs 1148.05.
What happened
Adani Green Energy Ltd jumped upto 8 percent upon commissioning of a 250 MW solar power project at Badi Sid, District of Jodhpur, Rajasthan. With the successful commissioning of the 250 MW solar power project in Rajasthan, now Adani Green Energy Ltd’s total operational renewable generation capacity has now reached an impressive 11,434 MW.
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About the company
Adani Green Energy Limited which is part of the Adani Group, is a leading player in India’s renewable energy sector, primarily focused on generating clean energy through solar, wind and hybrid power projects.
AGEL aims to reduce environmental impact and promote sustainable energy solutions. The company has rapidly expanded its operations, developing large-scale solar and wind projects across India and internationally.
AGEL’s diverse portfolio includes major solar parks and wind farms, which contribute to India’s renewable energy goals that aids the Indian government’s target of 500 gigawatts of non-fossil fuel energy by 2030.
It is also working on energy storage technologies to ensure consistent power supply. By driving the shift toward renewable energy, It not only helps combat climate change but also promotes economic growth and job creation.
Financials
The company’s revenue rose by 30 percent from Rs 2,589 crore to Rs 3,376 crore in Q2FY24-25. Meanwhile, Net profit fell by 25 percent from Rs 372 crores to Rs 276 crore during the same period.
