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Great rise in shares of Adani Group companies today, market cap crosses Rs 16.5 lakh crore

Adani Group Stocks: The Adani Group‘s businesses have grown significantly in recent times. As of today, March 1, 2024, shares of every Adani Group listed company opened on a positive note. Subsequently, the Adani Group’s stock prices continue to rise.

The main business Adani Enterprises’ shares, as well as those of subsidiary group firms including Adani Power, Adani Total Gas, and Adani Green Energy, are increasing in value.

The Adani Group company Adani Green Energy is enjoying the most increase in the market today. Today’s opening price for this share was 1,930.00. Adani Green was up roughly 3.85% as of 9:30 am, trading at Rs 1,968.00.

Let us inform you that the company’s shares have increased following the release of the report detailing the exceptional third-quarter results of Adani Group.

The report states that in the third quarter, the group’s overall EBITDA grew by 63.6% on an annual basis. This outstanding achievement has been made possible by the infrastructure industry’s explosive growth. This information was provided by the group in a news statement on Thursday. EBITDA for the Adani Group over the previous 12 months was Rs 78,823 crore. This is a 37.8% increase over the FY23 fiscal year.

Gautam Adani became the second richest person in the world, beats Bernard Arnault, know Adani’s business journey

Gautam Adani is now the world’s second richest person. As of now, Gautam Adani is the only billionaire in the top-10 list after Elon Musk. In order to move up to this position in the Forbes Real Time Billionaire Index, Gautam Adani passed Bernard Arnault. He remains in third place on Bloomberg‘s Billionaire Index.

The main source of Adani’s riches is its publicly held ownership interest in the Adani Group, which is where it got its start. According to a March 2022 stock exchange filing, he has a 75% ownership stake in Adani Enterprises, Adani Power, and Adani Transmission. He has 37% of Adani Total Gas, 65% of Adani Ports and Special Economic Zones, and 61% of Adani Green Energy under his control. These businesses are all situated in Ahmedabad and are all publicly listed.

Adani’s business journey

According to Bloomberg, Adani is India’s top port operator, producer of thermal coal, and trader of coal. Gujarat is where Gautam Adani was born. After dropping out of college, he traveled to Mumbai as a youngster and worked in the diamond industry before going back to his home state.

Polyvinyl chloride (PVC) imports for his brother’s plastics company marked the beginning of his international enterprise. Adani Enterprises, the group’s primary business for the import and export of goods, was founded by him in 1988.

In 1994, Adani Enterprises requested permission from the Gujarati government to establish a port facility at Mundra Port for the purpose of handling its own cargo. Adani chose to transform the project into a commercial port after realizing its potential. By personally negotiating with more than 500 landlords across India to construct India’s largest port, he created rail and road connectivity. In 2009, Adani started producing electricity.

Adani Total Gas forays into Electric Mobility Infrastructure Sector

Adani Total Gas Limited, one of the largest city gas distribution companies in India, has launched its first Electric Vehicle Charging Station (EVCS) in Ahmedabad. It will be equipped with fast charging technology, as well as a convenient digital platform, at ATGL’s CNG station in Maninagar, Ahmedabad, and will be able to facilitate the quick charging of EVs.

Adani Total Gas’ CEO, Suresh P Mangalani, said, “Starting the EV business with the first charging station in Ahmedabad for Adani Total Gas, bringing a green fuel option to the large customer base in India is another milestone for Adani Total Gas, The plan is to create an emerging business opportunity in line with our vision of providing sustainable fuel solutions to all major cities and towns in India.”

EVCS will install 1500 EVCS across the country, and the company is implementing a long-term expansion plan based on the creation of demand and the building of momentum within the EV ecosystem.

ATGL has a strong presence as a CNG retailer across India. A special asset of the company is its unique position to participate actively in the Electric Mobility market. This is due to the fact that it owns a retail space, has vast experience servicing domain customers, and has a large customer base throughout India. A company plans on entering the booming EV market and capturing a big chunk of the rapidly growing market for electric vehicles.

Moreover, ATGL gains its resources from the Adani Group‘s capacity to produce renewable energy and it can take advantage of the synergies between the groups to procure green power.

As ATGL continues to monitor market leadership, its vision has an added competitive advantage with Total Energies SE’s global experience in the EV infrastructure space.