- Shares of Adani Transmission, which delivered more than three-fold returns to investors in the last one year, and is valued at ₹4 lakh crore.
- It is one of the largest private sector power transmission companies in India with a presence across the western, northern and central regions of India.
- The power transmission company is the largest Adani Group company in terms of market capitalization.
In terms of market cap, it has overtaken telecom giant Bharti Airtel, cigarette-to-hotels conglomerate ITC, biggest paint maker Asian Paints. Currently, it’s the eleventh most valuable company in India and is counted among multibaggers stocks that have delivered more than three times returns to its investors.
The collective market cap of all Adani group companies accounts to $237 billion. The chairman of the group Gautam Adani, who runs seven listed companies, is the fourth richest man in the world with a net worth of $128 billion surpassing Microsoft co-founder Bill Gates.
Rally in the shares of Adani Transmission is aided by a $4fueled by easing inflation in the country along with a turnaround in FII flows.
“Moderating domestic inflation level has raised expectations that interest rate hike by the central bank may slow down going ahead. While strong FII fund infusion has certainly bolstered the sentiment of investors,” said Shrikant Chouhan, head of equity research (Retail) at Kotak Securities.
Adani Transmission is one of the largest private sector power transmission companies in India with a presence across the western, northern and central regions of India.
The company has a power transmission line length of close to 14,279 circuit kilometers and distributes power to over 1.2 crore customers. It grew inorganically and acquired two transmission companies in the last two years. Further, it intends to access and supplant 30% of Mumbai’s energy needs with renewable energy by 2023.
A major breakthrough for the company was its entry into electric mobility by launching its first electric vehicle charging station in Ahmedabad.
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