Shares of the Gautam Adani-led Adani Group have been on the verge of success with electric utility company Adani Power increasing by as much as 92 per cent in the last month. Similarly, recently listed Adani Wilmar stock also rose 61 percent over the same period.
Shares of Adani Total Gas and Adani Enterprises rose 35% and 33%, respectively, while Adani Ports and Special Economic Zone gained 22%, followed by Adani Green Energy (15%) and Adani Transmission (7%). Excluding Adani Transmission and Adani Ports, the remaining five stocks traded at lifetime highs on the exchanges. By comparison, the S&P BSE Sensex is up 11 percent in the past month.
Among the individual stocks, Adani Power continued its northward movement, closing at the upper 10 per cent circle at Rs 232.60 on the Bahrain Stock Exchange in Tuesday’s trading.
Aside from a sharp 92 percent rise in the past month, the stock is up 133 percent in the past three months. Adani Power reported a consolidated net profit of Rs 218.49 crore for the third quarter of FY22 (Q3 FY22). The company incurred a loss of Rs 288.74 crore while the total income was Rs 5,593.58 crore as compared to Rs 7,099.20 crore in the same period last year.
Adani Wilmar (AWL) also closed in the upper circle 5 per cent at Rs 580.20, which is also a new high in BSE, and it is up 61 per cent in the last month. AWL has a leading position in the market across kitchen essentials: branded edible oil, wheat flour, rice, etc., with a large household reach. Its growth strategy is to increase market share in existing categories, diversify into more FMCG segments, pursue strategic acquisitions (product expansion/geographic reach) and improve profit margin/return in the medium term.
In the third quarter of FY22, AWL recorded a 66 per cent q-o-q growth in its consolidated net profit of Rs 211 crore for the third quarter ended December 31, 2021 (FY22 third quarter). The company’s consolidated revenue grew by 41% on a quarterly basis to Rs.14,379 crore.
“As the largest edible oil manufacturer (about 19 percent) with access to Wilmar’s global linkages (holding a 44 percent stake), AWL has significant sourcing (strong relationships with major suppliers and units closer to ports), supply chain and expanding benefits. compared to its domestic peers to ensure an efficient cost structure is important for low-margin business,” said analysts at JPMorgan.
Adani Total Gas also hit a new high of 2,450 rupees, up 3 per cent in daily trade on Tuesday, and up 36 per cent in the last month. On March 28, Adani Total Gas has taken the plunge into electric mobility by launching the first Electric Vehicle Charging Station (EVCS) in Ahmedabad, Gujarat. “We aim to expand the electric mobility network by creating 1,500 EVCS across the country. We have kept an expansion plan ready to exceed 1,500 EVCS, on the basis of generating demand and building momentum for the country’s electric vehicle ecosystem,” the company said. in the current situation.
Adani Total Gas is India’s leading private company in developing city gas distribution networks (CGD) to supply piped natural gas (PNG) to industrial, commercial and domestic (residential) customers and compressed natural gas (CNG) to the transportation sector. With pre-licensing gas distribution mandated for 14 new Geographical Areas (GAs), ATGL serves 38 geographies representing 8 percent of India’s population.