Gautam Adani’s Adani Power shares up nearly 19%

Adani Power stocks on Tuesday hit a record high of ₹151 after zooming 19 per cent in intra-day trade over heavy volumes. The stock of the Gautam Adani-led Adani Group company has zoomed 58 per cent in the last one week. It was trading at ₹150.30, up ₹23.35 or 18.39 per cent, and at ₹150.35, higher at 23.45 or 18.48 per cent, at 11:40am on BSE and NSE respectively.

Last month, Adani Power posted a consolidated net profit of ₹13.13 crore in the March quarter, mainly on account of higher revenues. The company posted a consolidated net loss of ₹1,312.86 crore in the quarter ended March 31, 2020. Adani Power’s total income of the company rose to ₹6,902.01 crore in the quarter from ₹6,327.57 crore in the same period a year ago.