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Budget 2021

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Budget 2021

Associate Partners:

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Adani Green stock price up 4% after ACME Trade and Investment buys stake

According to bulk deal data on BSE, ACME Trade and Investment acquired 2,00,96,000 equity shares in the company at Rs 915.71 per share.

January 14, 2021 / 12:13 PM IST
Adani Green Energy | ACME Trade and Investment acquired 2,00,96,000 equity shares in the company at Rs 915.71 per share, whereas Adani Trading Services LLP sold same number of shares at same price on the BSE.

Adani Green Energy | ACME Trade and Investment acquired 2,00,96,000 equity shares in the company at Rs 915.71 per share, whereas Adani Trading Services LLP sold same number of shares at same price on the BSE.

 
 
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Adani Green Energy share price jumped 4 percent intraday on January 14 after ACME Trade and Investment acquired a stake in the company.

According to bulk deal data on BSE, ACME Trade and Investment acquired 2,00,96,000 equity shares in the company at Rs 915.71 per share.

The stock was trading at Rs 958.65, up Rs 37.15, or 4.03 percent at 11:25 hours. It has touched an intraday high of Rs 967.55 and an intraday low of Rs 924.45.

On the other hand, Adani Trading Services LLP sold the same number of shares at the same price on the BSE.

Adani Trading Services LLP, a promoter entity of Adani Green, on January 13 sold 2 crore shares of Adani Green Energy Ltd worth over Rs 1,840 through open market transactions. According to the block deal data available with the BSE, Adani Trading Services had divested 2,00,96,000 scrips of the company in the price range of Rs 906 to 916.15.

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Adani Green Energy had earlier commissioned a 25 MW solar power plant in Chitrakoot, Uttar Pradesh. Adani Solar Energy Chitrakoot One Ltd, a step-down subsidiary of AGEL, has commissioned the solar power plant, a company statement said.

With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,820 MW awarded and under implementation projects.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has a decreasing promoter pledge. FII / FPI or institutions have been increasing their shareholding. The company has strong cash-generating ability from core business - improving cash flow from operation for the last 2 years.

However, Moneycontrol technical rating is very bearish with moving averages and technical indicators being bearish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jan 14, 2021 12:13 pm

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