Adani Power enters 50 most-valuable listed company club, as stock rises 5 per cent

After rallying over 100% in the last one month, Adani Power has entered the list of top-50, most-valued companies, in terms of market captialisation (m-cap).
Gautam Adani. ( File Photo)
Gautam Adani. ( File Photo)

NEW DELHI: After rallying over 100% in the last one month, Adani Power has entered the list of top-50, most-valued companies, in terms of market captialisation (m-cap). The Gautam Adani-promoted company on Friday hit a new high of Rs 259.20, hitting upper circuit of 5% on the BSE.

The company is also set to join the elite club of companies with Rs 1 lakh crore m-cap. According to the Bombay Stock Exchange, the company’s m-cap by the end Friday’s trading session was at Rs 99,972 crore.

With Friday’s rally, the stock has jumped 109%in the past one month as against around 0.85% decline in benchmark Sensex and 0.43 slump in Nifty50. Adani Power is also the sixth Adani Group Company that features in this top-50 club which is led by Reliance Industries Ltd. With a m-cap of Rs 4.51 lakh crore, Adani Green Energy is Group’s most and India’s seventh most valued listed company. Adani Transmission, Adani Total Gas, Adani Enterprises, Adani Ports and Special Economic Zone are other Adani Group companies that have a market cap of over Rs 1 lakh crore.

The recently listed Adani Wilmar, whose stock has jumped 83% in the last one month, has a m-cap of nearly Rs 95,000 crore and is the 52nd most valuable listed company. Brokerage firm Emkay Global in a recent note said that Bank of Baroda, Tata Elxsi, NMDC, Adani Power, and AU Small Finance Bank could end up getting included in the MSCI (Morgan Stanley Capital International) India Standard Index. If this happens then as much as $485 million inflows could be coming towards these five domestic stocks, estimates Emkay.

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