Adani Power enters the 50 most valuable companies club, as shares rise 5 per cent- The New Indian Express | Rare Techy

by Service News Express

NEW DELHI: After rallying more than 100% in the past month, Adani Power has entered the list of 50 most valuable companies, in terms of market captialization (m-cap). The Gautam Adani-promoted company on Friday hit a fresh high of Rs 259.20, hitting a 5% higher circuit 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 at the end of Friday’s trading session was Rs 99,972 crore.

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

Newly listed Adani Wilmar, whose shares have risen 83% in the past month, has an 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 may be included in the MSCI (Morgan Stanley Capital International) India Standard Index. If this happens then as much as $485 million inflows could go to these five domestic stocks, Emkay estimates.

</p> <p>NEW DELHI: After rallying more than 100% in the past month, Adani Power has entered the list of 50 most valuable companies, in terms of market captialization (m-cap). The Gautam Adani-promoted company on Friday hit a fresh high of Rs 259.20, hitting a 5% higher circuit 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 at the end of Friday’s trading session was Rs 99,972 crore. With Friday’s rally, the stock has jumped 109% in the past one month against around 0.85% decline in the benchmark Sensex and a 0.43 slump in the Nifty50. Adani Power is also the sixth Adani Group Company that features in this top-50 club led by Reliance Industries Ltd. With a m-cap of Rs 4.51 lakh crore, Adani Green Energy is the Group’s largest and seventh most valuable listed company in India. Adani Transmission, Adani Total Gas, Adani Enterprises, Adani Ports and Special Economic Zone are other Adani Group companies with a market cap of over Rs 1 lakh crore. Newly listed Adani Wilmar, whose shares have risen 83% in the past month, has an 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 may be included in the MSCI (Morgan Stanley Capital International) India Standard Index. If this happens then as much as $485 million inflows could go to these five domestic stocks, Emkay estimates.<br />