After joining an exclusive club with India’s most valued companies in the listed universe about a month ago, Adani Green Energy has moved up to 7th place, leaving the State Bank of India (SBI) behind. Adani Green Energy’s current market capitalization is around ₹4 49 255 crore while SBI’s market capital is approx ₹SEK 4,326,263 million.
In recent times, Adani Green Energy’s market valuation has risen many times as the Adani Green share has become a hot favorite among investors in the green energy segment. Adani Green shares are one of the multibagger shares in 2022 as they have delivered about 110 percent return to their shareholders so far this year.
The Adani Green share rally over the past six months has helped the Adani Group’s companies surpass the market values of ITC, Bharti Airtel, Kotak Mahindra Bank, HDFC Limited, Bajaj Finance and SBI. This is the first non-Nifty 50 company to join the big boys’ club.
Price History
In last one month, Adani Green shares have surged from around ₹2665 to ₹2856, logging around 7 per cent rise in this period. In year-to-date time, this multibagger stock has shot up from around ₹1350 to ₹2856 levels, clocking near 110 per cent rise this year.
In last 6 months, this Adani group stock has surged from ₹1230 to ₹2856 apiece levels, appreciating to the tune of near 135 per cent in this period. However, in last one year, this multibagger stock has risen from ₹1100 to ₹2856, logging around 160 per cent rise in this period.
Six listed companies that are ranked above Adani Green Energy are Reliance Industries Limited, TCS, HDFC Bank, Infosys, HUL and ICICI Bank. Reliance Industries is the most valued company with current market capital of around ₹17,72,971 crore followed by TCS with a market valuation of ₹12,56,478 crore.
Adani Wealth
Gautam Adani is now the fourth richest person in the world, tying with Microsoft cofounder Bill Gates.
The continued bull run in Adani group companies’ stocks has helped Gautam Adani blaze past giants like Mukesh Ambani, Warren Buffett, Google cofounders Larry Page and Sergey Brin, among others.
According to Bloomberg Billionaires Index, Gautam Adani’s wealth stood at $125 billion, same as that of Bill Gates. This has been helped by a boost of over $6 billion yesterday alone.
On the other hand, according to Forbes Real Time Billionaires list, Gautam Adani is still the fifth richest person with a wealth of $129 billion, while Bill Gates’ wealth is marginally higher at $129.4 billion.
Behind the Creation
Adani initially made his fortune in the coal industry, first as a trader and then a builder of India’s largest thermal power capacity in the private sector.
As the government decided to dump fossil fuels in favour of renewable energy, Adani quickly joined the green energy bandwagon and now his conglomerate is on its way to becoming the largest solar power producer in the world.
The group plans to spend 75% capital expenditure in green businesses, including $20 billion in renewable, green component manufacturing and enabling infrastructure, over the next decade.
Adani Green Energy, world’s largest solar power developer, plans to build 45GW renewable capacity by 2030. In October, it completed the largest M&A in India’s renewable space by acquiring SB Energy, an 80:20 joint venture between Japan-based SoftBank Group and Bharti Group, for ₹26,000 crore.
