InvestorQ : Why does Adani Green Energy continue to hit new highs despite having rallied 600% in the last one year?
Angel dcosta made post

Why does Adani Green Energy continue to hit new highs despite having rallied 600% in the last one year?

Answer
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Anamika Sodhani answered.
3 months ago


Adani Green Energy touched Rs.273 on 02 Jun and was locked in upper circuit. The stock continues its rally that began nearly a year back at around the Rs.35 levels. Also, the stock has clarified that it does not foresee any impact of COVID-19 on the stock performance. In the last 3 months alone the stock has moved up by 75%. Adani also confirmed that it had been getting regular payments from DISCOMS and did see any challenges in servicing its debt. The company has also recently raised Rs.3700 crore by divesting some of its stake in solar plants and will be using the money to pare debt and to fund expansion.