Adani Transmission hits ₹2 tn in market capitalization
Adani Transmission Ltd (ATL) on Monday crossed ₹2 trillion market capitalization after its shares hit an all-time high with surge over 327% so far this year.
With this, Adani Transmission became the most valued Adani Group firm, replacing Adani Green Energy Ltd.
At closing, the scrip settled at a fresh record high of ₹1,870.85 on BSE, up 3.75% from its previous close with m-cap stood at ₹2.05 trillion. Year-to-date it gained over 327.75%
This was the second Adani Group firm to cross this milestone after Adani Green Energy Ltd with market cap of ₹1.86 trillion followed by Adani Enterprises Ltd ₹1.68 trillion, Adani Ports and Special Economic Zone ( ₹1.51 trillion), and Adani Total Gas ( ₹1.5 trillion).
The firm has emerged as one of the most attractive integrated power transmission and distribution companies in India in last few years. The aim of ATL is to address the vast potential in India's transmission sector, setting up 20,000 circuit km of transmission lines by 2022. The firm intends to sustain network availability corresponding to the highest global standard. In FY21, the firm added 3,931 ckt km to its network, reaching 18,801 ckt km, and sold a record 7,169 million units.
The company increased its share of the country’s power transmission segment in TBCB bids from 24% in FY16 to 35% in FY21.
“India is not just another electricity market. It is unique in a number of ways, which makes a long-term presence in this market imperative for companies seeking sustainable growth and enhanced value. India is an attractive market for generation, transmission and distribution sector investments," the firm said in its annual report.
The power sector attracted $15.23 billion in foreign direct investment since 2000 and $0.67 billion in FY20; FDI in India’s power sector accounted for 3% of all the FDI in the country since 2020.
“We believe that the more India consumes electricity, the stronger the long-term prospects for players across the power sector value chain," the firm added in its annual report.