Adani Green Energy Ltd witnessed a rise in its stock price during early trading hours following a key development in its renewable energy portfolio. The company’s wholly owned subsidiary, Adani Renewable Energy Holding Twelve Limited (AREH12L), received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) to supply 400 MW of solar power. This order is part of a grid-connected solar photovoltaic (PV) power project scheduled to be developed in Rajasthan.
Long-Term Solar Supply Contract Strengthens Energy Commitment
The newly awarded solar power project comes with a tariff agreement fixed at ₹2.57 per kilowatt hour (kWh), applicable over a duration of 25 years. This long-term power purchase agreement marks a significant achievement in Adani Green’s mission to provide clean and sustainable energy. The LOA outlines a steady and structured revenue stream from this project, aligning with India’s broader push toward renewable energy development.
Stock Sees Positive Momentum After Announcement
Following the announcement, Adani Green Energy’s stock price climbed 1.18 percent, reaching ₹971 on the Bombay Stock Exchange. The company’s market capitalization currently stands at ₹1.53 lakh crore. A total of 1.19 lakh shares changed hands during the session, contributing to a turnover of ₹11.48 crore. This uptick reflects growing investor optimism after the company secured the new contract.
Sharp Downtrend Over the Year Despite Recent Gains
Despite the short-term gain, the stock has faced significant pressure over the past year. Adani Green shares have declined by 47 percent in the last 12 months and have fallen over 51 percent in the past six months alone. The volatility has largely mirrored broader market concerns surrounding the group’s performance and macroeconomic shifts impacting the renewable energy sector.
Wide Price Fluctuation Highlights Market Sensitivity
The large-cap stock reached a 52-week high of ₹2,173.65 on June 3, 2024, but later slumped to a 52-week low of ₹758 on March 3, 2025. This steep fluctuation signals a volatile trading pattern, with the stock showing a beta value of 1.8 an indicator of high sensitivity to market movements. This level of volatility suggests that while there is potential for significant returns, the stock also carries notable investment risk.
RSI Signals Balanced Trading Conditions
According to technical indicators, Adani Green’s stock is neither in an overbought nor oversold zone. The Relative Strength Index (RSI) stands at 60.7, suggesting a relatively neutral momentum. The stock is currently trading above its 5-day, 10-day, 20-day, 30-day, and 50-day moving averages, but remains below the 100-day, 150-day, and 200-day averages. This mixed signal pattern indicates moderate investor sentiment and cautious positioning.
Strong Earnings Performance in Latest Quarter
Adani Green Energy recently reported an impressive financial performance for the December 2024 quarter. The company recorded a consolidated net profit of ₹474 crore, marking a year-on-year increase of more than 85 percent. This strong earnings result was driven by higher revenues from its power supply operations. During the same period last year, the net profit stood at ₹256 crore, reflecting substantial growth in operational efficiency and output.
Revenue Surge Reflects Steady Business Expansion
The company’s revenue from power supply also showed a significant increase, reaching ₹1,993 crore during the December quarter. This compares to ₹1,765 crore in the corresponding quarter of the previous year. The rise in revenue highlights the growing demand for clean energy and the company’s ability to deliver on large-scale energy contracts. With the new solar project in Rajasthan, Adani Green aims to further reinforce its position in the renewable energy space.