Adani Green Energy share value hit a record higher of Rs 1,251 apiece, increasing 5 per cent on BSE on Monday. Adani Green stock has surpassed its preceding higher of Rs 1,245 apiece, touched on March 16, 2021. The shares of Adani Green Energy had been locked in a 5 per cent circuit in today’s session following the firm received a Letter of Award (LOA) for a 300 MW Wind project. With this, Adani Green Energy’s total renewable capacity stood at 15165 MW, of which 3395 MW renewable plants had been operational and 11770 MW projects had been below implementation. Adani Green has been one of the best stocks which have provided multi-bagger returns in the existing monetary year. The stock has skyrocketed a huge 718 per cent, from Rs 152.90 to Rs 1,251 apiece so far in FY21.
Also study: ‘Reliance Retail already worth $100 bn’: Jefferies sees 24% upside in RIL shares
So far in intraday bargains, a total of 30,000 shares have traded on BSE, whilst 3.70 lakh scrips have exchanged hands on NSE. AR Ramachandran, Co-founder & Trainer, Tips2Trades, told TheSpuzz Online that technically, a close above Rs 1250 could lead to a prospective target of Rs 1285 and Rs 1330 in the coming week. “1200 will act like a strong support,” he mentioned. The stock had hit a 52-week low of Rs 128.25 per share final year on March 23. In a span of one year, the stock has surged 875 per cent.
Last week, Adani Green Energy Limited (AGEL) announced that it has signed a share acquire agreement for the acquisition of a one hundred per cent stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global. With this acquisition, AGEL shall improve its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The project is positioned in Telangana and was commissioned in Oct 2017 and has a lengthy-term Power Purchase Agreement (PPA) with the Southern Power Distribution Company of Telangana.
Apart from this, AGEL raised a $1.35 billion debt package for its below-building renewable asset portfolio by means of definitive agreements signed with a group of major international lenders. The firm in a BSE press release informed that the revolving project finance facility would initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects to be set up in 4 SPVs in Rajasthan. This is one of the biggest revolving project financing bargains to date in the renewable sector in Asia. Moreover, the facility will be the initially certified green hybrid project loan in India.