Adani Transmission eclipses giants LIC, ITC in value with 125% rise
Adani Transmission NSE -0.36 % Ltd. has blown past entrenched corporate giants to become India’s 10th-largest listed firm by market value as part of a broader runaway rally in Adani Group stocks.
Shares of the New Delhi-based power utility have climbed almost 125% this year, boosting its market capitalization to 4.4 trillion rupees ($55.2 billion) in Mumbai on Friday. Its valuation surpassed Life Insurance Corp. of India — the country’s largest insurer — and cigarettes-to-cookies maker ITC Ltd NSE 1.75 %.
