Why Adani Green Shares Are Upbeat Today

Shares of Adani Green were surging in early trade on Thursday after slumping over 1% on Wednesday.

What Happened: Shares of the Adani Group company are upbeat as its posted its operational updates for the quarter ended June on Thursday. As per the company, energy sales surged 70% year-over-year to 6,023 million units in the June quarter.

See Also: Why TCS Shares Are Surging After Q4 Results

The company reported that its capacity increased by 43% YoY to 8,316 MW. The company further added that it added capacities of 1,750 MW in solar–wind hybrid, 212 MW in solar and 554 MW in wind power plants. The plant additional were in Rajasthan and Gujarat.

The company’s surge in sales was backed by Hybrid power plants. In the June quarter, Hybrid energy sales grew by 1,546% to 2,206 million units as compared to 134 million units in the same quarter last year. Wind energy sales went up by 34%, while solar sales were up 6%.

Price Action: Adani Green Energy’s share price was up 1.21% to trade at ₹966.10 in the early hours of trading on Thursday.

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Posted In: EquitiesMarketsAdani GreenAdani Group