Adani Group’s flagship, Adani Enterprises Ltd (AEL) crossed the ₹2 lakh crore market capitalization on Tuesday, becoming the fourth company to cross the milestone from Adani stable. Earlier, Adani Green Energy Ltd., Adani Transmission Ltd. and Adani Total Gas Ltd. had hit milestones in market cap.
On Tuesday, AEL shares hit an all-time high of ₹1,850 before the session ended, at ₹1,843, up 5.27 per cent or ₹92.35 over the previous close on BSE. On Tuesday, the benchmark Sensex closed 0.37 per cent or 221.26 points higher at 60,616.89.
Founded by Gautam Adani, it took less than a year for AEL to add ₹1 lakh crore. The company had crossed ₹1 lakh crore market cap for the first time on March 3, 2021, with the company’s share prices hitting an intra-day high of ₹944.75 before closing at ₹918.65.
“This is the fourth company in the group to hit a market capitalization of ₹2 lakh crore. This clearly highlights the strong fundamentals of these four companies. There is no looking back for the group, as it has been involved in many unconventional business ventures. It monitors sectors such as data centres, a logistics park and green hydrogen, among others. This promises good value to investors going forward,” said a Mumbai-based analyst requesting anonymity.
green energy mission
In November last year, the Adani Group announced its commitment to invest $70 billion by 2030 for its green energy initiatives, which include solar and green hydrogen.
Other group companies that belong to the ₹2-lakh crore club include Adani Green Energy Ltd (AGEL), which on Tuesday closed 9 per cent higher at ₹1,567.90 on the BSE. AGEL had a market cap of ₹2.45 lakh crore, followed by Adani Transmission Limited (ATL) at ₹2.04 lakh crore. The group’s transmission and distribution arm closed at Rs 1,860.05, up 1.78 per cent on the BSE.
The market cap of the group’s city gas distribution arm, Adani Total Gas Limited (ATGL), slipped to a little over ₹2 lakh crore on Tuesday, bidding for ₹1.96 lakh crore. ATGL shares closed at ₹ 1,783.90, up 1.27 per cent.
The group’s logistics and ports infrastructure arm, Adani Ports and Special Economic Zone Ltd (APSEZ), has a market capitalization of Rs 1.56 lakh crore, with its shares trading at Rs 765.10 on Tuesday. The group’s power generation arm, Adani Power Limited (APL), has a market capitalization of Rs 41,712 crore and a share price of Rs 108.15.
Market cap of ₹10 lakh crore
The combined market capitalization of six Adani group companies has crossed Rs 10 lakh crore on Indian stock exchanges. “Out of the six listed entities of the group, only Adani Green and Adani Ports have a public shareholding of 40 per cent and 36 per cent respectively. The promoter holds about 75 per cent stake in the rest of the group companies. So more than the public, it is the assets of the promoters which have increased further,” said a market participant.
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