Adani Power rose 0.93% to Rs 54.55 at 15:21 IST on BSE, with the stock extending Friday's 4.65% gains triggered by the company's announcement that it has become the largest private power producer in India.
Meanwhile, the S&P BSE Sensex was down 15.98 points or 0.07% at 22,343.52.
On BSE, so far 10.75 lakh shares were traded in the counter as against average daily volume of 7.25 lakh shares in the past one quarter.
The stock was volatile. The stock surged as much as 5.45% at the day's high of Rs 57 so far during the day. The stock lost as much as 1.38% at the day's low of Rs 53.30 so far during the day. The stock had hit a 52-week high of Rs 62.40 on 21 May 2013. The stock had hit a 52-week low of Rs 29.45 on 5 August 2013.
The stock had outperformed the market over the past one month till 4 April 2014, surging 51.4% compared with the Sensex's 5.42% rise. The scrip had also outperformed the market in past one quarter, jumping 47.88% as against Sensex's 7.23% rise.
The large-cap company has equity capital of Rs 2871.92 crore. Face value per share is Rs 10.
Shares of Adani Power have risen 5.61% in two trading sessions from Rs 51.65 on 3 April 2014 after the company after market hours on 3 April 2014 said it has become the largest private power producer in India. The stock had surged 4.65% to settle at Rs 54.05 on Friday, 4 April 2014.
Adani Power, a subsidiary of Adani Enterprises and part of the Adani Group, a global integrated infrastructure player, announced the commissioning of the fourth unit of 660 megawatts (MW) at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India with an overall installed capacity of 8,620 MW.
This is an important milestone in the history of Indian power generation as Adani Power has added 2,640 MW in the last financial year, accounting for nearly 15% of the overall capacity addition of about 17,000 MW in the country. The company has commissioned two 660 MW units in the first quarter, one 660 MW unit in third quarter and one 660 MW unit in fourth quarter of the fiscal year ended March 2014 (FY14), two each at Tiroda in Maharashtra and at Kawai in Rajasthan, the company said in a statement.
Post commissioning of Unit 4 at Adani Power's Tiroda power plant in Maharashtra, the company added 660 MW to its existing installed thermal capacity of 7920 MW. Apart from this, the Adani Group has also installed a 40 MW Solar power plant in Kutch district, Gujarat, taking the overall installed capacity to 8,620 MW - the highest amongst private sector producers, across all fuels, the company said.
Adani Power reported a consolidated net loss of Rs 544.82 crore in Q3 December 2013, lower than net loss of Rs 619.01 crore in Q3 December 2012. Net sales rose 122.3% to Rs 4186.67 crore in Q3 December 2013 over Q3 December 2012.
Adani Power is the largest private thermal power producer in India. It is currently developing six power projects across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh.
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