Vanguard Group buys stares of Adani Green Energy

Adani Green Energy share price gained 3 % after Vanguard Group Inc acquired shares in company.
According to data available on NSE, Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index Fund A Series of V I E I F acquired 1,30,84,019 equity shares in company at Rs 666.96 per share.
In one year, the share has gained 1159% and risen 265% since the beginning of this year. In a month, the share has gained 68.73%.

Adani Green Energy is looking to tie-up with some banks to avail greenfield funding for its under-construction assets. It will raise $1.8 billion for the under-construction and contracted portfolio of 12 GW, which includes the country’s first manufacturing-linked solar power plant of 8 GW.
The largest solar power generating company recently posted strong earnings performance during the fiscal first quarter to June 30.

Total income jumped 30% to Rs 878.14 crore in Q1 from Rs 675.23 crore in Q1 June 2019. Other income stood at Rs 99.6 crore in Q1 against Rs 14.42 crore in Q1 June 2019.
Adani Green experienced a completely normal operations amid Covid-19 pandemic situation and remain committed towards power supply being the ‘essential services.

In Q4 of last fiscal, the firm posted a consolidated net profit of Rs 55.64 crore helped by lower expenses. The clean energy firm had logged a consolidated net loss of Rs 94.08 crore in the corresponding quarter a year ago.

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