Markets

Adani Group’s fourth company crosses ₹2 lakh crore in market capitalisation

Our Bureau | | Updated on: Jan 11, 2022
image caption

Adani Enterprises took less than a year to add ₹1-lakh-cr

Adani Group's flagship, Adani Enterprises Ltd (AEL), on Tuesday crossed a market capitalisation of ₹2 lakh crore, becoming the fourth company from the Adani stable to cross the milestone. Earlier, Adani Green Energy Ltd, Adani Transmission Ltd and Adani Total Gas Ltd had hit the milestone in market cap.

On Tuesday, AEL shares hit an all-time high of ₹1,850, before ending the session at ₹1,843, up 5.27 per cent or ₹92.35 over the previous close on BSE. The benchmark, Sensex, ended up 0.37 per cent or 221.26 points at 60,616.89 on Tuesday.

Founded by Gautam Adani, AEL took less than a year to add ₹1 lakh crore. The company had first crossed a market cap of ₹1 lakh crore on March 3, 2021, with the company's share prices hitting an intra-day high at ₹944.75 before closing at ₹918.65.

"This is the group's fourth company that has hit the ₹2-lakh-crore market capitalisation. This clearly highlights the strong fundamentals of these four companies. There is no looking back for the group, as it is eyeing multiple unconventional business areas 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 not to be named.

Green energy mission

Last year in November, the Adani Group had announced its commitment to invest $70 billion by 2030 for its green energy initiatives, which included solar and green hydrogen, among others.

The group's other companies that belong to the ₹2-l₹akh crore club include Adani Green Energy Ltd (AGEL), which closed at ₹1,567.90 with 9 per cent gains on BSE Tuesday. AGEL's market cap stood at ₹2.45 lakh crore, followed by Adani Transmission Ltd (ATL), at ₹2.04 lakh crore. The transmission and distribution arm of the group ended up 1.78 per cent at ₹1,860.05 on BSE.

The group's city gas distribution arm, Adani Total Gas Ltd (ATGL)'s market cap slid marginally below ₹2 lakh crore to quote at ₹1.96 lakh crore on Tuesday. ATGL shares ended at ₹1,783.90, with 1.27 per cent gains.

The group's logistics and ports infrastructure arm, Adani Ports and Special Economic Zone Ltd (APSEZ), has a market cap of Rs 1.56 lakh crore, with shares quoting at Rs 765.10 on Tuesday. The power generation arm of the group, Adani Power Ltd (APL), has a market cap of Rs 41,712 crore with shares quoting at Rs 108.15.

₹10-lakh-cr market cap

The combined market cap of the six Adani Group companies has exceeded Rs 10 lakh crore on the Indian stock exchanges. “Of the six listed entities of the group, only Adani Green and Adani Ports, have higher public holding at 40 per cent and 36 per cent respectively. The remaining group companies have about 75 per cent holding with the promoter. So more than the public, it is the promoters’ wealth which has got further enhanced,” said a market participant.

Published on January 11, 2022

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