adani power

adani power’s market value currently stands at nearly Rs 4.85 lakh crore, higher than Infosys, whose market capitalization is around Rs 4.72 lakh crore. Following the latest reshuffle, adani power has emerged as India’s 11th most valuable listed company.

Gautam Adani has reclaimed the title of Asia's richest person, surpassing Mukesh Ambani. His net worth surged by approximately $2.5 billion on Friday, driven by significant gains across Adani Group's listed companies like adani power and Adani Green Energy. This impressive comeback follows the dismissal of fraud charges, restoring his position among the world's wealthiest.

Stocks of several Adani Group firms, including Adani Enterprises, Adani Green, adani power, Adani Ports, Adani Energy and Adani Total Gas, rose by as much as 3.5% after the case was effectively closed the securities and wire alleged fraud case in New York.

Global tensions in West Asia, particularly around the Strait of Hormuz, are driving market volatility and influencing crude oil prices. Investors are also closely watching corporate earnings, with key results due this week, alongside crucial US economic data and the Federal Reserve's policy decision.

Top stock market recommendations: Grindwell Norton, adani power, and KSB are stocks that Aakash K Hindocha, Deputy Vice President - WM Research of Nuvama Professional Clients Group recommends. He shares target levels as well as his outlook on Nifty and Bank Nifty:

Adani Group stocks surged up to 13% after Gautam Adani sought dismissal of a US SEC civil case, citing no credible evidence of bribery. Lawyers argued the alleged actions were extraterritorial and took place in India. This, along with a positive outlook for Adani Green Energy, boosted investor sentiment.

adani power on Tuesday said its board has approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself. "The Board of Directors of adani power Ltd at its Meeting held on March 22, 2022, approved, subject to requisite approvals/consents, the Scheme of Amalgamation of various wholly-owned subsidiaries of the company..," a BSE filing said.

adani power shares on Tuesday shot up to a 52-week high, hitting the 10% upper circuit on reports the company has received Rs 3,000 crore in past dues from three Rajasthan discoms (distribution companies).

adani power has filed a contempt petition in the Supreme Court against three Rajasthan government discoms (power distribution companies) for failing to comply with the apex court’s order to pay the company Rs 6,738 crore in compensatory tariff and interest for power supplied since 2013.

Shares of adani power on Tuesday tumbled over 7 per cent after the company reported a 71.72 per cent plunge in its consolidated net profit for the quarter ended March 31, 2015.

Shares of adani power on Monday surged over 9 per cent after the company announced incorporation of a subsidiary, which is expected to push the group's ambitious plans in Jharkhand.

adani power's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. Total income of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago, it said in a statement on Thursday.

adani power on Wednesday posted a whopping 1,619% growth in its consolidated net profit during the first quarter of fiscal year 2022-23. The company’s profit stood at Rs 4,780 crore during the quarter against Rs 278 crore in the corresponding quarter of 2021-22.

In traded volume terms, 50.59 lakh shares were traded at the BSE and over 2.45 crore shares at the NSE during the day.

adani power reported a 12% year-on-year decline in net profit to Rs 2,906 crore for the September quarter, primarily due to higher expenses. Despite this, total income saw a slight increase, supported by higher power sales. The company is actively pursuing capacity expansion, aiming for 42 GW by FY 2031-32, and has secured new long-term power purchase agreements.

adani power Limited on Wednesday posted a manifold jump in consolidated net profit to Rs 4,779.86 crore in the quarter ended June 2022, on account of growth in income. The consolidated net profit of the company in the year-ago period was at Rs 278.22 crore, according to a regulatory filing.