Adani Green Energy topples Bharti Airtel as India’s 10th most valued company

/ 2 min read

With market capitalisation of ₹4.36 lakh crore, the Adani group company surpassed telecom major Bharti Airtel, becoming the tenth most valued Indian firm in terms of m-cap.

Billionaire Gautam Adani-led Adani Green Energy entered the list of top-10 most valued companies in
Billionaire Gautam Adani-led Adani Green Energy entered the list of top-10 most valued companies in | Credits: Fortune India

Billionaire Gautam Adani-led renewable energy company Adani Green Energy has pipped telecom operator Bharti Airtel to become the tenth most valued Indian firm in terms of market valuation. Oil-to-telecom conglomerate Reliance Industries topped the chart, followed by IT major Tata Consultancy Services (TCS) and private sector lender HDFC Bank.

ADVERTISEMENT

The market capitalisation (m-cap) of Adani Green Energy went up by ₹13,740 crore to ₹4.36 lakh crore at the end of trade on April 12, driven by a strong rally in the company’s shares. This was ₹28,977 crore more than Bharti Airtel’s m-cap of ₹4.07 lakh crore.

On Tuesday, Adani Green Energy shares opened higher with a gain of 5.46% to ₹2,849 apiece against previous closing price of ₹2,701.55 on the BSE. During the session, the stock rose as much as 9.27% to hit a fresh all-time high of ₹2,951.9, before closing at ₹2,789.40, up 3.25%. There was a spurt in volume trade as 5.71 lakh shares worth ₹161.8 crore changed hands over the counter on the BSE as compared to two-week average volume of 1.24 lakh scrip.

The share price of the Ahmedabad-headquartered company has risen 29% in the past three sessions after UAE’s International Holding Company (IHC) proposed to invest ₹3,850 crore in Adani Green Energy through preferential issue.

Adani Green Energy shares have gained 53% in a month and more than 100% since the beginning of the calendar year 2022 amid a slew of positive developments. The stock price has surged 150% over one year, while it zoomed 7,460% in just three year.

Recommended Stories

Meanwhile, the BSE benchmark Sensex closed lower for the second straight session, down 388.20 points, or 0.66%, at 58,576 levels.

At the end of the day’s trade, Mukesh Ambani-led Reliance Industries (RIL) held the top chart position with a market capitalisation of ₹17.32 lakh crore. The m-cap of Tata Consultancy Services (TCS) and HDFC Bank - the country’s second and third most valued firms - stood at ₹13.50 lakh crore and ₹8.28 lakh crore, respectively. With a m-cap of ₹7.30 lakh crore, Infosys continued to hold fourth position, followed by ICICI Bank (₹5.31 lakh crore), HUL (₹5.01 lakh crore), SBI (₹4.58 lakh crore), Bajaj Finance (₹4.41 lakh crore), and HDFC (₹4.40 lakh crore). Adani Green Energy remained in the tenth position with a m-cap of ₹4.36 lakh crore.

ADVERTISEMENT

Meanwhile, Gautam Adani, founder and chairman of the Adani group, has entered the $100 billion club on the back of a strong surge in his net worth. With a net worth of $118 billion, he is the only Indian to appear on Bloomberg's top-10 Billionaire list. The 59-year-old business tycoon has surpassed Google’s famed founders Larry Page and Sergey Brin with a net worth jumping by more than $18 billion in a week.

Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.

Most Powerful Women In Business 2025
View Full List >