Adani Power shares at 10% upper circuit, doubles in 2022

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Shares of Adani Group’s power business arm Adani Power hit the 10 per cent upper circuit on Friday.

Notably, the power producer company has doubled its investors’ money in 2022. So far in the current calendar year, it rose 101 per cent.

On Friday, the shares were locked in the upper circuit at Rs 203.6, as against Rs 101.3 in early January.

According to reports, India’s power consumption grew steadily to 126.12 billion units in March, which is up by 4.6 per cent year-on-year.

Notably, an ease in lockdown restrictions by states somewhat raised the demand for power.

An improved demand in the power sector is expected to support earnings of the companies associated.

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