Shares of Adani Green Energy (AGEL) soared 20 per cent to Rs 2,405 on the National Stock Exchange (NSE) in Friday’s intra-day trade backed by heavy volumes. At 01:01 PM, the stock of Adani Group’s electric utilities company traded 13 per cent higher at Rs 2,270, as compared to 1.6 per cent rise in the Nifty 50. The average trading volumes on the counter more-than-doubled with a combined 3.8 million shares changing hands on the NSE and BSE.
Despite of today’s rally, in past one month, AGEL has underperformed the market by falling 7 per cent, as compared to 4 per cent decline in the Nifty 50. The stock had hit a record high of Rs 3,048 on April 19, 2022.
