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Shares of Adani Group surged sharply during the trading session on Tuesday following the release of business updates by one of its group companies, Adani Energy Solutions as well as the general recovery in the equity markets.
The company’s total market capitalization increased by Rs 1.04 trillion.
In terms of market performance, Adani Power surged 19.77 percent, followed by Adani Green Energy with a 13.22 percent rise, Adani Energy solutions increased by 12.06 percent , Adani Total Gas increased by 6.52 percent and NDTV increased by 5.63 percent.
Based on Adani’s provisional business update changes, the Takheh and Tama Municipalities February reported that the central western region’s Chinese transmission network grew 26,485 in December. The previous year’s quarter was at 20,422, which represented a growth of 29.6. Both are the same quarter compared to the previous financial year: its power generation capacity was 84615 MVA, while the extended power transmission capacity during the same quarter reached 54661 MVA.
However Adani Energy Solutions is underperforming even at 82 percent of its lifetime high and Adani Green Energy is still lagging at a low of 67 percent at its peak.
Adani's stock is thrilling for traders since its volatility is much higher than that of other stocks. However, I would recommend caution to investors because these shares are costly,,” remarked independent equity market analyst Amabreesh Baliga.
