Shares of Adani Green Energy Ltd witnessed a slight uptick in early trading after its wholly owned subsidiary, Adani Renewable Energy Holding Twelve Limited (AREH12L), secured a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL). The award pertains to the supply of 400 MW of solar power from a grid-connected solar PV project in Rajasthan, at a tariff of ₹2.57/kWh for 25 years.
Following the announcement, Adani Green Energy’s stock rose 1.18% to ₹971 on the BSE, with a market capitalization of ₹1.53 lakh crore. Trading volume stood at 1.19 lakh shares, generating a turnover of ₹11.48 crore.
Despite the recent gain, the stock has declined 47% over the past year and 51.15% in the last six months. It hit a 52-week high of ₹2,173.65 on June 3, 2024, and a 52-week low of ₹758 on March 3, 2025. With a high beta of 1.8, the stock has exhibited significant volatility over the past year. Technical indicators suggest that Adani Green shares are trading above their 5-day, 10-day, 20-day, 30-day, and 50-day moving averages, but below the 100-day, 150-day, and 200-day moving averages. The Relative Strength Index (RSI) stands at 60.7, indicating that the stock is neither in an overbought nor an oversold zone.
In terms of financial performance, Adani Green Energy posted an 85% surge in consolidated net profit, reaching ₹474 crore in the December 2024 quarter, driven by increased revenue from power supply. This marks a significant rise from the ₹256 crore net profit recorded in the same quarter last year. Revenue from power supply grew to ₹1,993 crore, up from ₹1,765 crore in the previous year.
