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 at 11:13 a.m.
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.
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 as of 11:19 a.m.
“In terms of future development, ATL is well positioned to capture future growth across a variety of channels. The company has a strong pipeline of projects worth Rs 15,000 crore in the works (including Mumbai-HVDC project).
Via TBCB (tariff-based competitive bidding) transmission ventures, it has a lot of room to expand. In an investor presentation, the company said, “The acquisition, new licence, franchise, and public private partnership (PPP) opportunities in the transmission and distribution (T&D) space.”
