Adani Green at new high

Adani Green had ended yesterday at the 5% UC at Rs.141.75 and today too, it opened stronger at Rs.146.25 and soon jumped up to hit the 5% UC at Rs.148.80, which is also a new high.

There is no news on the counter and it looks like investors and punters, looking for midcaps to stock up on have found fancy in this scrip.

On 16th Dec, the company said that its Rs.2570 crore bond issue had attracted major investor interest worldwide. It was the first ever bond in India to use the amortizing project finance structure which gives FIIs the opportunity to buy investment-grade bonds from India's renewable energy sector. It is learnt that 24% of the bonds were taken by USA investors, 60% by Asian and 16% from EMEA.

Adani Green generates solar and wind energy and in H1FY20, the group won bids to the tune of 130 MW of wind and 600 MW of hybrid. Once all these projects go on stream, its power generating capacity will be 5290 MW.