Adani Power shares hit record high today, jump 18% in 4 sessions

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Adani Power Ltd shares surged to an all-time high, marking a fourth consecutive session of gains. The stock surged by 5 percent, reaching a historic peak of ₹611.75 on the BSE, following an 18.4 percent increase over the past four trading sessions. Today's rally further propelled Adani Power's stock, which has climbed a remarkable 230% from its 52-week low of ₹185.10 recorded on April 19, 2023.

So far this year, the stock has experienced a 15.3 percent increase. Over the past twelve months, it has surged by 214 percent. Also read: Vibhor Steel Tubes stock jumps over 19% to hit 3-week high, up 32% in 3 sessions; here's why At present, Adani Power boasts a market capitalization of ₹2.33 lakh crore, securing the 37th position among all listed firms on the BSE.

It surpasses notable companies such as JSW Steel, Tata Steel, Siemens, IRFC, Varun Beverages, Bharat Electronics, Grasim Industries Ltd, and Zomato in terms of market capitalization. Mahan Energen Ltd, a subsidiary of Adani Power, has entered into a 20-year power purchase agreement with Reliance Industries for 500 MW of electricity from a 600-MW unit at MEL's Mahan thermal power plant. In adherence to policy mandates, RIL will maintain a 26 percent ownership in the captive unit, necessitating an investment of ₹50 crore for 5 crore equity shares of MEL.

This pact signifies an exclusive partnership between the two entities for the procurement of 500 MW of power by Reliance Industries over the long haul. In its most recent presentation, Adani Power articulated its ambition to augment its power assets by close to 6 gigawatts (Gw) within the upcoming five years. This strategic expansion is geared towards addressing the burgeoning power requirements of India, with a