Multibagger: This Adani Group stock soared 295% in a year, climbed over 5700% in 5 years
Also Read: As India expands its nuclear power capacity, these four companies are at forefront Among the group stocks, Adani Green Energy, the country's largest renewable energy (RE) company and the second-largest solar PV developer in the world, stood out as an outlier as it rallied significantly over the last three-month period. During this period, the shares have grown from ₹1,052 apiece to the current trading price of ₹1,918, resulting in a massive gain of 82%, and they soared 295% in the last one-year period, while over the last five-year period, the shares delivered a staggering return of 5720%. Also Read: Adani Power to Adani Ports: Why Adani group shares are rising today? On February 14, the company announced that 551 MW of solar capacity in Khavda, Gujarat, had become operational and started supplying power to the national grid.
The company achieved this milestone within 12 months of commencing work on the Khavda RE park. The company plans to develop 30 GW of renewable energy capacity at this RE park. The planned capacity is expected to be operationalised in the next five years.
When completed, the Khavda RE park will be the largest renewable energy installation in the world. This RE park alone can power 16.1 million homes each year. The company currently has an operating renewable portfolio of over 9 GW, the largest in India, spread across 12 states.
Also Read: Railways and Defence: Which stocks can handle the booming Indian stock market? The company has set a target of achieving 45 GW by 2030, aligned with India’s decarbonisation goals. Global credit rating agency Moody's has recently upgraded the rating on the company from 'negative' to 'stable'. The company is looking to raise USD 409 million through US
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