Taking over from SBI, Adani Green Energy becomes 7th most valuable company

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.

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.