Adani Transmission, with a market capitalization of Rs 1.60 trillion, has surpassed Adani Port & SEZ, which had a market capitalization of Rs 1.57 trillion.
Adani Transmission has surpassed Adani Port and Special Economic Zone (SEZ) to become the second most valuable of Gautam Adani’s Adani Group companies.
Adani Transmission, which has a market capitalisation of Rs 1.60 trillion, replaced Adani Port & SEZ, which has a market capitalisation of Rs 1.57 trillion, at 11:13 a.m., according to BSE reports. According to data, Adani Green Energy is the most valued Adani Group firm, with a market capitalization of Rs 2.01 trillion.
The transmission and distribution arm of the Adani Group, one of India’s largest business conglomerates, is Adani Transmission Limited (ATL). ATL is the country’s largest private transmission company, with a total transmission network of about 17,200 ckt km, of which approximately 12,350 ckt km is operational and approximately 4,850 ckt km is under construction.
ATL also has a distribution company in Mumbai that serves over 3 million customers. With India’s energy demand expected to quadruple in the coming years, ATL is well positioned to build a powerful and stable power transmission network, as well as aggressively serve retail customers and achieve “Power for All” by 2022.
On the BSE, ATL shares reached a new high and locked in a 5% upper circuit at Rs 1,455.20, with only buyers on the counter. The stock was up for the fifth day in a row, with a 27 percent increase over the same duration, compared to a 3% gain for the S&P BSE Sensex. So far, a total of 2 million equity shares have changed hands on the NSE and BSE.
“On future growth, ATL well placed to capture future growth through multiple avenues. The company has robust under-construction pipeline worth Rs 15,000 crore (including Mumbai-HVDC project). It has strong growth potential through TBCB (tariff based competitive bidding) transmission projects. The acquisition, new license, franchise and public private partnership (PPP) opportunities in transmission and distribution (T&D) space,” according to the company’s investor presentation.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.
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