The strong Q 3 business update of the Adani Group firm has helped boost the share price of Adani Green Energy AGEL, which hit a new record high today. The stock has surged 16% in the last two days after the Q 3 business update. It was 6.26% to a new all-time high of Rs 1,666 on the BSE today.
Adani Green's stock is higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 77.59% in the last year and risen 23.75% since the beginning of the year.
Total 1.49 lakh shares of firm changed hands on the BSE, which is a turnover of Rs 24.25 crore. The market cap of the firm increased to Rs 2.56 lakh crore on BSE.
The stock hit a 52 week low of Rs 860.20 on August 11, 2021.
Adani Green Energy said the sale of energy increased by 97 per cent on year-on-year YoY at 2,504 million units backed by robust performance in both Solar and Wind portfolios.
In Q3 of FY 21 the sale of energy stood at 1,273 million units. The total operational capacity increased by 84 per cent YoY to 5,410 MW. Solar portfolio utilization factor CUF at 21.9 per cent with 110 bps improvement YoY backed by around 100 per cent plant availability, while wind portfolio CUF at 18.6 per cent with 10 bps improvement YoY backed by around 97 per cent plant availability, Adani Green Energy said.
The company said it signed the World's Largest Green Power Purchase Agreement with SECI to supply 4,667 MW. This takes the total signed PPAs to nearly 6,000 MW out of the 8,000 MW awarded to AGEL under SECI's manufacturing linked solar tender.
Adani Green Energy Limited AGEL is an India-based renewable energy company. The company develops, builds, owns, operates, and maintains utility-scale grid connected solar power, wind power, hybrid projects and solar parks.
It has solar power plants in various states, including Tami Nadu, Karnataka, Punjab and Chhattisgarh. Wind power plants are located in Gujarat and Madhya Pradesh. SB Energy Holdings Ltd is a subsidiary of SB Energy India.