All Adani Group stocks are rallying at the bourses on Friday with Adani Energy Solutions (formerly Adani Transmission) registering an over 7% surge. The stock surged up over 7% to hit an intraday high of ₹894. However, it still trades much below its all-time high of ₹4,236.75 which it hit last September.
The Investment: With the current stock price at ₹822.20, an investment of ₹10,000 would get you approximately 12 shares of the company. If Adani Energy Solutions’ stock were to climb back to its all-time high of ₹4,236.75, recorded on 16th September 2022, your investment would be worth approximately ₹51,515.62.
Background: The stock is a buzz today as Abu Dhabi National Energy Co. PJSC (TAQA), a global utility company, is reportedly considering a significant investment in Gautam Adani‘s diversified power businesses. The Adani power business’s vast spectrum has caught TAQA’s attention, and they aim to invest between ₹12,464 crore to ₹20,773 crore into various Adani Group firms, especially Adani Energy Solutions.
The company also announced that it had signed a pact with Megha Engineering & Infrastructures Limited for the acquisition of KPS 1 Transmission Limited.
Price Action: Adani Energy’s share price was up 7.13% to trade at ₹880.80 on Friday afternoon.
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Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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