Adani Group stocks in spotlight: Adani Gas jumps 15 per cent, Adani Transmission surges more than 6 per cent
Shares of companies belonging to the Adani Group continue to be buzzing. Majority of the shares touched their all-time highs on Tuesday. A high trading volume was seen in these stocks as investors find them attractive with positive growth prospects.
Shares of Adani Gas jumped by more than 37 per cent since the beginning of Samvat 2077 i.e. since the beginning of this week. On Wednesday, the stock of the company touched its all time high of Rs 348 per share on BSE. The company announced of a strategic collaboration with Italy-based Snam which is one of Europe’s leading gas infrastructure companies to create a joint venture for setting-up a CNG compressors manufacturing facility in India.
On a consolidated basis, for Q2FY21, Adani Power reported a growth of 30.99 per cent YoY in its net sales while net profit witnessed a significant increase on the basis of one-time revenue recognition as compensatory tariff as fuel expenses went down amid lower power demand. In Q2FY21 it gained a net profit of Rs 2228.05 crore as against Rs 3.88 crore gained in Q2FY20.
In one year, shares of Adani Green Energy jumped significantly as investors strongly believe in the company’s positive business model, capex and order deals.
Following table highlights the gaining momentum of companies belonging to the Adani Group:
|
Company Name
|
Returns (per cent)
|
LTP (Rs)
|
|
Since November 1, To Date
|
YTD
|
|
Adani Enterprises Ltd.
|
16.22
|
89.61
|
393.55
|
|
Adani Gas Ltd.
|
32.86
|
65.53
|
326.85
|
|
Adani Green Energy Ltd.
|
23.65
|
505.69
|
1088.25
|
|
Adani Ports and Special Economic Zone Ltd.
|
5.52
|
0.5
|
390.25
|
|
Adani Power Ltd.
|
5.04
|
-41.31
|
38.2
|
|
Adani Transmission Ltd.
|
26.68
|
10.25
|
383.8
|