During Monday’s trading session, its shares rose around 4 percent to settle at Rs 2.968.10 each – helping it reach a market cap of Rs 4,64,215.08 crore. SBI’s market capitalization is Rs 4,54,619.71 crore.
On Monday, Adani Green Energy rose to seventh place in terms of market valuation on the BSE and NSE equities bourses. It has taken the place of the country’s largest lender, State Bank.
On Monday, its shares increased approximately 4% to Rs 2.968.10 per share, bringing its market capitalization to Rs 4,64,215.08 crore. The market capitalization of SBI was Rs 4,54,619.71 crore.
Adani Green is the only non-Sensex firm on the BSE’s top ten list in terms of market valuation.
Reliance Industries remained at the top of the top-10 list, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, Adani Green Energy, SBI, Bajaj Finance, and HDFC.
Adani Green Energy’s stock has been a hot favorite among investors in the green energy sector. Because of the company’s concentration on renewable energy, it has been a market favorite, with gains of almost 1,400 percent since April 2020.
The astounding increase is a result of Adani Group’s recent push into the green energy sector, as well as India’s vow to create a net carbon-free economy by 2070 at the COP26 Summit last year.
Adani Group has strengthened the reputation of its investors by allocating a preferred ownership position to Abu Dhabi-based International Holding Co.
Through preferential share allotment, International Holding Company will invest USD 2 billion in three green-focused Adani Group firms.“IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL),” the group led by billionaire Gautam Adani had said in a statement.
Investment is subject to shareholder and regulatory approvals and must comply with Sebi regulations.