Profit Sheets

Adani Transmission surpasses ITC, Airtel in market cap ranking

August 3, 2022 11:47 AM




Adani Transmission, the power transmission company of Gautam Adani Group company, surpassed the fast moving consumer goods (FMCG) firm ITC and telecom services provider in market capitalisation (market cap) ranking as the stock hit a new high on the BSE in Wednesday’s intra-day trade.


At 10:23 AM; with a market cap of Rs 3.88 trillion, Adani Transmission stood at 11th position in the overall market cap ranking of the BSE listed companies, the exchange data shows. was at 12th position with Rs 3.83 trillion market cap, while ITC slipped to 13th position with a market cap of Rs 3.77 trillion.


Shares of Adani Transmission hit a new high of Rs 3,529.35, gained 3 per cent on the BSE in intra-day trade ahead of its April-June quarter (Q1FY23) results today.


In the past one week, Adani Transmission has rallied 16 per cent as compared to 3.9 per cent rise in the S&P BSE Sensex. On the other hand, ITC was up 0.38 per cent, while, gained 2 per cent during the same period.


In the past one month, the stock price of Adani Transmission has zoomed 45 per cent. In the last six months, the stock has soared 73 per cent, as against 1.4 per cent decline in the Sensex. Further, in past one year, the stock skyrocketed nearly 280 per cent, as compared to 8 per cent rise in the benchmark index.


Adani Transmission (ATL) is the transmission and distribution business arm of the Adani Group, one of India’s largest business conglomerates. ATL is the country’s largest private transmission company with a cumulative transmission network of ~18,795 ckm, out of which ~14,279 ckm is operational and ~4,436 ckm is at various stages of construction. ATL also operates a distribution business serving about 3 million+ customers in Mumbai.


The Indian government is exploring delicensing the business of power distribution through draft amendments of the Electricity Act with the objective to enhance competition and consumer choice, creating attractive opportunities for the nimble, the company said in FY22 annual report.


ATL intends to enter the electricity distribution business in prominent cities and districts, leveraging the experience drawn from its Mumbai distribution network and service. The Company intends to emerge as a leading national electricity distribution utility, providing reliable and competitive supply through innovative service platforms.


Besides, the Government of India and various state governments have undertaken multiple initiatives to promote the adoption of electric vehicles. Adani Electricity Mumbai Limited (AEML) will promote the use of electric vehicles and charging infrastructure. AEML intends to facilitate the development of charging infrastructure through partnerships with bike operators (start-ups), cab aggregators and fleet operators, the company said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a comment

Your email address will not be published. Required fields are marked *


Intraday Tips
Stock Name Open Price Trend Details
Reliance 1930.10 Buy  Click Here
Asian Paints 2577.00 Buy  Click Here
HDFC 2448.00 Buy  Click Here
HDFCAMC 2790.00 Buy  Click Here
TCS 3120.00 Buy  Click Here



NSE Top Gainers/Losers
COMPANY LTP %CHNG VOLUME
ITC 253.75 1.83 1,26,68,576
M&M 807.10 1.73 48,32,584
JSWSTEEL 728.65 1.55 42,75,780
TATACONSUM 776.30 1.36 21,46,724
HINDUNILVR 2,043.00 1.34 16,38,568
COMPANY LTP %CHNG VOLUME
HINDALCO 569.90 -4.98 1,67,38,310
DIVISLAB 4,431.15 -2.37 3,48,495
APOLLOHOSP 4,525.45 -1.94 8,77,622
RELIANCE 2,634.00 -1.46 33,99,115
CIPLA 1,014.65 -1.39 12,17,592