Adani Green Energy Ltd shares will remain in spotlight tomorrow after the company’s subsidiary Adani Saur Urja (LA) Limited received a letter of award (LoA) from Uttar Pradesh Power Corporation Limited (“UPPCL”) post market hours. Last trading price of Adani Green Energy shares on BSE is Rs 840.35 per share on Bombay Stock Exchange (BSE).
The power generation sector stock witnessed steep decline of 61.34% from its 52-week high price of Rs 2173.65 per share, if last trading price of Rs 840.35 is taken into consideration. The company’s market capitalisation stood at Rs 1,33,114.17 crore. It offers a return on equity (RoE) of 4.91%. Check more details below:
Adani Green Energy Bags Order From UPPCL
According to the exchange filing of Adani Green Energy dated February 25, 2025, “Adani Saur Urja (LA) Limited, a Wholly-owned Subsidiary of the Company, has received a Letter of Award (“LOA”) from Uttar Pradesh Power Corporation Limited (“UPPCL”) for procurement of 1,250 MW energy storage capacity from Pumped Hydro Storage Projects. The capacity is secured through the e-Reverse Auction conducted by UPPCL. The Annual Fixed Cost payable under the LOA is Rs. 76,53,226 per Mw per Annum (taxes extra) for the entire period of 40 years from COD. LOA was received by the Company at 6.57 PM on February 24, 2025.”
Adani Green Energy Shares Performance
The 52-week high of Adani Green Energy share price is Rs 2,173.65 per share (as on 03/06/2024) and 52-week low price is Rs 818.50 per share (as on 24/02/2025), respectively. Adani Green Energy slipped over 10% in last 2-weeks, recorded a correction of 55.80% in last 6-months, and declined 56.31% in last 1-year. In last 2-years, Adani Green Energy share delivered returns of 72.65% and fell again by 56.29% in last 3-years. The stock offered highest returns in last 5-years as the shared zoomed 366.08%.
Adani Green Energy Q3 Results
The company on January 23, 2025 declared a surge of 85% in its consolidated net profit to Rs 474 crore for the quarter ended December 31, 2024 amid higher revenues from power supply. It had declared its net profit at Rs 256 crore in the corresponding quarter of last year. Meanwhile, the company reported the revenue from power supply to Rs 1993 for the December 2024 quarter as against Rs 1765 crore in the similar quarter of last year.
Should You Buy Adani Green Shares?
Brokerage firm Anand Rathi said, “Support will be at Rs 790 and resistance at Rs 880. A decisive move above the Rs 880 level may trigger a further upside to Rs 920. The expected trading range will be between Rs 790 and Rs 920 in the short-term.”
AR Ramachandran, SEBI registered Independent analyst said, “Adani Green Energy is bearish but oversold on the Daily charts with strong support at Rs 819. A daily close above the resistance of Rs 886 could lead to a target of Rs 1003 in the near term.”
Disclaimer: The stock has been picked from the brokerage report of Axis Direct. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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