New Delhi: Adani Power's power company Adani Power, the power company of veteran businessman Gautam Adani, has been trading 20 per cent higher on Monday and more than 15 per cent today in the stock market. More importantly, the company's shares rose after lockdown relief in several states.
However, adani power shares have increased by more than Rs 50 in the month of June. The company's market capitalisation has increased by more than 20,000 crore. Let us also tell you why adani power shares are witnessing a higher rise. Power stocks have been bullish for two days. This is due to relaxation of lockdown in several states of the country. Experts say the slowdown is likely to boost electricity demand.
The impact of which is clearly visible in the shares of power companies. According to a government official, the demand for electricity is on the rise and due to relaxation in lockdown in many states, discom collection is expected. On the other hand, the distribution sector scheme of Rs.3 lakh crore announced in the Budget is under way.
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