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This stock has turned Rs 1 lakh into Rs 9 lakh in just one year
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This stock has turned Rs 1 lakh into Rs 9 lakh in just one year
Jun 18, 2020 9:08 AM

The recent bounce back in the Indian benchmark indices is impressive but what is even more attractive is to receive nearly 9x returns in one year. Adani Group has outperformed the equity indices, and one of its stocks has delivered nearly 855 percent of massive returns in one year.

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The company's diversified and listed businesses in the last few days have been gaining shareholders buying interest. Since March, Adani's clean energy arm i.e. Adani Green has delivered 258 percent returns to its shareholders. In fact, the stock has been hitting a 5 percent upper circuit this whole week and has been rallying subsequently.

Moreover, if you invested Rs 1 lakh in Adani Green last year, then your total wealth would have been increased to over Rs 9,55,000 this year.

The stock has been gaining amid reports that the company has plans to raise up to $12 billion in the next 4-5 years through the sales of green bonds to accomplish the aim of becoming the world’s biggest renewable energy player.

With Adani Green, the group has big plans to set up an installed generation capacity of 25 GW of renewable power by 2025, which in turn will see it committing an investment of Rs 1,12,000 crore ($15 billion) in the renewable energy space over the next five years.

Furthermore, Adani Gas has zoomed 79 percent while Adani Ports and Special Economic Zone has jumped 64 percent during the same period (March lows). Meanwhile, Adani Transmission and Adani Enterprises has rallied 53 percent and 28 percent respectively.

During the lockdown, the company continued its momentum on the back of government's approval of categorising power generations, retail and ports in India as 'essential services'.

Furthermore, Gautam Adani, chairman of the Adani Group said that he will take all the necessary steps towards fulfilling nation's vision, "We are currently focused on renewable energy space, also keeping Atmanirbhar Bharat Abhiyaan in mind."

The group's diversified businesses in retail, energy, road and airport segments are doing well. Recently, the company bagged bids for six airports and also two letters of award from NHAI for construction of 60 km plus roads.

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