courtesy:ndtv.com
The share of Gautam Adani-led power producer, Adani Power, have rallied a huge amount up to 57 per cent in the last four trading sessions, which showed in the data from stock exchanges.
In Tuesday’s session, the Adani Power shares rose as much as 19.33 per cent to hit record high of ₹151.50 on the back of heavy trading volumes. Till 12:06 p.m., Adani power witnessed huge trading volumes as 1.48 crore shares changed hands on the BSE compared with the 45.85 lakh shares traded daily in the past two weeks.
As well as in Monday’s session, the shares rallied up to nearly 20 per cent whereas 1.22 crore shares were traded on the BSE, the exchange data showed.
After the COVID-19 restrictions were in eased in many parts of the country, analysts said, the shares of other power group companies also witnessed strong buying interest in the recent session on the hopes of getting higher electricity consumption due the lockdown ease.
On Tuesday, India reported a daily rise in new coronavirus infections, as much as of 86,498 cases over the past 24 hours, which were the lowest in the past 60 days, according to a statement made by the government.
The recovery rate stood at 94.29 per cent.
Amongst the other power shares, Tata power nearly rose to 4 per cent, Torrent Power advanced 3.6 per cent, Thermax climbed 4.5 per cent and NTPC rose 1 per cent.
On BSE, the power index rose as much as 1.52 per cent, outperforming the Sensex which was down by 0.2 per cent.
As per data provided by the Power Ministry, the industrial and commercial power demand in the country grew at 12.6 per cent in the first week of June to about 25.36 billion units (BU). On the monthly basis, this was 3.35 per lower consumed in the first week of May this year.