Adani Power crosses ₹1 Lakh Crore Market Capitalization

One of the major companies of the Adani Group, Adani Power, has crossed ₹1 lakh crore market capitalization on Indian Stock Exchanges. Adani Power is the sixth Adani Group Company to enter this elite club. The market capitalization of Adani Power achieved this feat as shares of the company have been constantly increasing in the past one month, wherein it almost doubled investors' money by surging 90% during the period. Another company of the Adani Group, Adani Wilmar, an edible oil giant is on its track to join Adani Power soon. Currently, Adani Wilmar is the seventh largest group company with a current market cap of ₹97,930 crores.

Lately, shares of the company increased after a Supreme Court order came in favor of the company wherein the court asked some state-run distribution companies in Rajasthan to pay Adani Power its dues of ₹30.48 billion. It is being estimated that Adani Power will report strong earnings on high power consumption as lockdowns across states have eased this year. Other than this, the firm, also, ranked 49th in the list of top 100 listed companies surpassing Tata Power, Dabur, Britannia, BPCL, and many others.