Adani Transmission, owned by billionaire Gautam Adani, is the first member of the group to reach a valuation of 4 lakh crore.
Adani Transmission Hits 4Lakh
It has surpassed the largest paint manufacturer Asian Paints, the telecom giant Bharti Airtel, and the conglomerate ITC, which owns everything from hotels to cigarettes. It is currently India’s ninth most valued firm and one of the multibagger stocks, meaning that its investors have received returns that are greater than three times what they invested.
All of the Adani Group firms have a $237 billion market capitalization. With a net worth of $128 billion, Gautam Adani, the chairman of the group and CEO of seven publicly traded firms, is the fourth richest person in the world, overtaking Microsoft co-founder Bill Gates.
Adani Transmission’s share price is rising thanks to a bullish market trend that is supported by declining national inflation and a turnaround in FII inflows.
The domestic inflation level is lowering, according to Shrikant Chouhan, head of equity research (Retail) at Kotak Securities, and this has increased predictions that the central bank’s planned interest rate hike will stall. While a substantial injection of FII funds has undoubtedly improved investor sentiment.
About the Company
One of India’s major private power transmission firms, Adani Transmission has operations throughout the country’s western, northern, and central areas. Over 1.2 crore clients are served by the company’s nearly 14,279 circuit kilometers of power transmission lines.
In the past two years, it has expanded non-organically and bought two transmission firms. By 2023, it also aims to access and meet 30% of Mumbai’s energy demands from renewable sources.
Adani Total Gas is another Adani Group entity that is the closest to the $4 trillion threshold. It provides compressed natural gas (CNG) for the transportation sector as well as piped natural gas (PNG) for use in industry, commerce, and residential settings. The company’s introduction to electric mobility and the opening of its first electric vehicle charging station in Ahmedabad was a significant turning point for the business.
Read More: HBO Max Streaming App crashes during House of Dragon’s Premiere
