This large-cap Adani giant ranked 2nd as a global solar PV developer; stock surged more than 4 per cent in a day!

AGEL has committed to a USD 75 billion investment by 2030, aiming to reach 45 GW in renewable energy capacity and play a key role in India's decarbonization journey.

Adani Green Energy Limited has secured the second position globally among solar PV developers, with an impressive 18.1 GW of total solar capacity. This recognition underscores AGEL's significant role in the global solar energy landscape, with the company currently operating 8.4 GW across 12 states in India. AGEL has committed to a USD 75 billion investment by 2030, aiming to reach 45 GW in renewable energy capacity and play a key role in India's decarbonization journey.

Shares of Adani Group rose on Tuesday, December 5, following a news story indicated that the US had investigated the Hindenburg claims before making a loan to the Group and determined that they were unrelated.

In today's day trading session, Adani Green Energy Ltd exhibited notable volatility. Opening at Rs 1580 and reaching a high of Rs 1565 and Rs 1631 before settling at the current market price. The day's performance resulted in a 4.32 per cent increase compared to the previous close of Rs 1563 The overall market capitalization for Adani Green Energy Ltd stands at Rs 2,57,405 crore.

In Q2 FY24, the company's profit was Rs 371 crore, up 148.99 per cent from Rs 149 crore the previous year. Adani Green's revenue from operations increased by 79.55 per cent to Rs 1,984 crore in the September 2023 quarter, compared to Rs 1,105 crore the previous year.

About Company

Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.

Disclaimer: The article is for informational purposes only and not investment advice.