InvestorQ : Is it true that Adani Green is now valued at more than ONGC? Can you confirm on that?
Katherine Gonsalves made post

Is it true that Adani Green is now valued at more than ONGC? Can you confirm on that?

Answer
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rhea Babu answered.
3 weeks ago


Adani Green, part of the Ahmadabad based Adani Group, hit a record price of Rs.619. The stock has been rallying continuously from Rs.46 levels and is up nearly 1200% in the last one year. The company is scheduled to announce its quarterly results on 11 September.

You are right that the market cap of Adani Green has actually surpassed the market cap of ONGC. For example ONGC has a market cap of Rs.92,900 crore while Adani Green has a market cap of Rs.93,700 crore. Their stock performances have sharply diverged in 2020.

Adani Green is the largest solar power generator in the world with over 12 GW of likely capacity which includes its operating capacity, the capacity under construction and future solar parks awarded to them. Adani Green builds, owns, operates, and maintains projects.

Interestingly, the total renewable energy portfolio of Adani Green exceeds the total installed capacity of the US solar industry. It has 6 GW under operation and 3.40 GW under construction. In short, they represent the past and the future of fossil fuels.