Adani Green Shares Hit New High After Entering The List Of Top 10 Valuable Firms

Adani Green Energy shares in trade today rallied by close to 11 percent at day's high price, hitting Rs. 2955. This is also the stock's fresh life time high.

Shares of the power generation and distribution company are trending.

In Monday's trading session, the company made its way to the top 10 valued firms after the company's m-cap gained by more than Rs. 4.22 lakh crore. The company's market cap based on the current price movement is Rs. 434,013 crore.

On the sharp stock price rise, the company has toppled players like Airtel, HDFC and Bajaj Finance.

So far this year, YTD returns from the stock have been 109%. There has been seen gains in the Adani Group company stocks after $2 billion investment by UAE's IHC.

IHC will invest Rs 3,850 crore in Adani Green Energy (AGEL), Rs 3,850 crore in Adani Transmission (ATL), and Rs 7,700 crore in Adani Enterprises (AEL), in compliance with SEBI regulations.

"The transaction is expected to be completed in a month, after all necessary approvals are obtained. The capital will be utilized for pursuing the growth of the respective businesses, further strengthening of the balance sheet and for general corporate purposes," the companies said in a separate regulatory filing