2 hrs ago

Adani Energy Solutions Shares Rally on Renewable Energy Scheme

40% return in 6 months! Adani Energy Solutions share price up 5%, outshines Adani Group stocks- What's fuelling rally? · livemint.com

Adani Energy Solutions is a company involved in electricity transmission.

Its shares rose sharply during Thursday trading.

Investors were encouraged by a new government energy-infrastructure scheme.

The PM-Dhara scheme is worth ₹1.86 lakh crore.

It is designed to improve power transmission and help move renewable energy across India.

The plan also includes large battery-storage systems.

These batteries can help supply electricity when solar power is unavailable.

The company’s shares have also benefited from strong quarterly EBITDA growth and rose nearly 62% over the past year.

Key facts

Intraday gain: Adani Energy Solutions shares were reported up 5.64% at ₹1,386.65 at 10:30 a.m.
11:30 a.m. price: The shares were listed at ₹1,355.80, up 3.13%.
Scheme allocation: The PM-Dhara scheme was approved with an outlay of ₹1.86 lakh crore.
Renewable evacuation: The scheme aims to facilitate evacuation of up to 135 GW of renewable energy.
Battery storage: The scheme includes deployment of 50 GWh of battery energy storage systems.
One-year performance: Adani Energy Solutions shares gained nearly 62% over the past year.
SEBI settlement: The company said a SEBI settlement order resolved proceedings without admission or denial of the stated findings and legal conclusions.

livemint.com · 2 hrs ago