Adani Power shares at fresh record high, surges 18% in 4 sessions. Here's why

Adani Power share price: Shares of Adani Power hit a fresh record high today (April 3). The stock has surged for the fourth straight sessions. On the BSE, the stock rallied 5 per cent to a record high of ₹611.75 after gaining 18.4 per cent in the last four trading sessions. This year, the stock has jumped 15.3 per cent so far. In the last one year, the stock has surged 214 per cent.

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Adani Power share price: Adani Power's market capitalisation

Currently, Adani Power's market capitalisation stands at ₹2.33 lakh crore and it is ranked 37th among all listed firms on the BSE, above companies like JSW Steel, Tata Steel, Siemens, IRFC, Varun Beverages, Bharat Electronics, Grasim Industries Ltd and Zomato in terms of market capitalisation.

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Adani Power contract with Reliance

Adani Power subsidiary Mahan Energen Ltd also signed a 20-year power purchase agreement for 500 MW with Reliance Industries for a 600-MW unit from MEL's Mahan thermal power plant.

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Gautam Adani on Adani Green Energy

This comes as Adani Green Energy became the first company in India to surpass the mark of 10,000 MW of renewable energy as Gautam Adani said that he is proud of the development. He said, “We are proud to be India’s first das hazari in the renewables space. In less than a decade, Adani Green Energy has not just envisioned a greener future but has actualised it, growing from a mere idea to explore clean energy to achieving a phenomenal 10,000 MW in installed capacity.