Adani Group stocks today: Adani Energy Solutions, Adani Green Energy shares up 2%, here’s why

Shares of Gautam Adani-backed Adani Energy Solutions and Adani Green Energy soared 2 per cent on Friday’s early trade.

Adani Green Energy informed the exchanges on Friday that its wholly-owned subsidiary Adani Renewable Energy Holding Twelve Limited has secured a contract from Uttar Pradesh Power Corporation Ltd. The letter of award (LoA) pertains to the supply of 400 MW solar power from grid-connected solar PV power project to be developed in Rajasthan at a tariff of ₹2.57/kWh for a period of 25 years.

On Thursday, Adani Gren disclosed that it has operationalised an aggregate 396.7 MW power projects at Khavda, Gujarat.

With the commissioning, Adani Green Energy Ltd’s total operational renewable generation capacity increased to 13,487.8 MW.

Adani Energy gains on acquiring Mahan Transmission

Adani Energy Solutions on Thursday announced the acquisition of ₹2,200 crore intra-state transmission project Mahan Transmission Ltd (MTL). A share purchase agreement was executed with REC Power Development and Consultancy Ltd for acquiring 100 per cent equity shares of MTL at a face value of ₹10 each.

As per the stock exchange disclosure, MTL will evacuate 1,230 MW of power from Adani Power’s upcoming 1,600 MW expansion units at Mahan in Singrauli district and feed into the state grid.

Adani Energy Solutions traded 1.62 per cent positive on the NSE as at 11.20 am, after hitting an intraday high of ₹894.90.

Adani Group stocks in focus

Adani Green traded flat at ₹964.10, after rising 1.7 per cent from previous close to a high of ₹976.45.

In addition, Adani Total Gas rose 1.13 per cent to ₹618.80 as at 11.29 am. Other Adani Group stocks such as Adani Ports traded flat ₹1,197.75, Adani Power at ₹517.75, Adani Enterprises at ₹2,355.50, Adani Wilmar at ₹256.48, ACC at ₹1,949.50, Ambuja Cements traded at ₹541.80 and Sanghi Industries at ₹60.25.