Adani Power and Tata Power in a race to cross ₹1 lakh crore market value
Apr 11, 2022, 15:04 IST
- Two largest power generating companies are about to cross a major milestone together.
- Adani Power and Tata Power are about to cross ₹1 lakh crore market capitalisation on stock exchanges followed by strong rally in shares.
- Shares of Adani Power have surged 126% in 2022 so far while Tata Power went up by 27% during the period.
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Two of India’s largest power generating companies -- Adani Power and Tata Power -- are about to cross a major milestone of crossing ₹1 lakh crore market capitalisation together.Coincidently, both Adani and Tata Group company are hovering around ₹90,000 crore market capitalisation today, April 11.
This was the result of a strong surge in shares of both the companies in the last one year. Investors have more than doubled their money in these stocks.
In recent times, Adani Power share prices have surged after a Supreme Court order came in favour of the company wherein the court asked some state-run distribution companies in Rajasthan to pay Adani Power its dues of ₹30.48 billion.
Besides, it is expected that the company will report a strong earnings on high power consumption as lockdowns across states have eased this year.
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Meanwhile, Tata Power has surged exceptionally in the last one year as investors are keen with the company’s electric vehicle charging space.
The company’s efforts in the electric vehicle charging segment have taken investor’s attention. It is building home charging installations in all cities to support Tata Motors' EV customers.
Reportedly, recently Saudi Arabia’s Public Investment Fund (PIF) is looking to buy a stake in Tata Power’s green energy, power transmission and distribution businesses.
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