Adani Enterprises and Adani Ports and Special Economic Zone will declare their earnings for the March 2024 quarter on Thursday, May 2.
Both Adani Energy Solutions and Adani Total Gas will declare their Q4 results on Tuesday.
Result-bound Adani Group stocks, which are slated to share their earnings on Tuesday or Wednesday, were mostly moving higher, rising up to 5 per cent during the trading session. As many as five companies from Gautam Adani’s empire are set to announce their earnings either on Tuesday or Wednesday, when the market will observe a holiday on the account of Maharashtra day.
Shares of Adani Energy Solutions Ltd surged 2.62 per cent to Rs 1,088.45 during the trading session on Tuesday, commanding a total market capitalization of more than Rs 1.2 lakh crore. Adani Energy Solutions said it received LOA for an additional order quantity of 1.7 million meters from MSEDCL with a revenue potential of Rs 2,100 crore, said the company in its recent quarterly update.
The total smart metering under-construction pipeline stands at 22.8 million smart meters, consisting of nine projects with a contract value of Rs 27,200 crore. In the distribution business, Adani Energy Solutions sold 2,226 million units in Q4FY24 against 2,100 million units last year on account of uptick in energy demand.
Adani Total Gas jumped more than 3.1 per cent to Rs 947.70 on Tuesday, commanding a total more than Rs 1 lakh crore. On the other hand Adani Total Gas this month said a wholly-owned subsidiary Adani Total Energies E-Mobility (ATEL), and MG Motor India signed a Memorandum of Understanding (MoU) to strengthen the EV charging infrastructure in India
Both Adani Energy Solutions and Adani Total Gas will declare their Q4 results on Tuesday. Along with its Q4 results, Adani Total Gas would also consider a dividend, if any, on the equity shares of the company for the financial year 2023-24.
Adani Power Ltd, which is scheduled to declare its earnings for the March 2024 quarter on Wednesday, May 1, surged more than 4.5 per cent to Rs 622.30, with a total valuations close to Rs 2.4 lakh crore. JM Financial expects utilities to report flattish revenue and Ebitda growth sequentially driven by growth in power demand.
Another result bound Adani Group stock, Adani Wilmar surged 4.68 per cent to Rs 359.40 on Monday with a total market capitalization of more than Rs 46,000 crore. The company will also declare its results on Maharashtra Day, that is, May 1.
Cement player Ambuja Cements Ltd will also declare its earnings on Wednesday, May 1, along with dividend, if any for the period. Another cement company of Adani Group ACC Ltd has already announced its earnings, where the company’s bottomline came in at Rs 748.5 crore for the March 2024 quarter, better than the street’s expectations.
Among other companies from Adani conglomerate, Adani Enterprises and Adani Ports and Special Economic Zone will declare their earnings for the March 2024 quarter on Thursday, May 2. Both the blue-chip companies may also announce dividends for the shareholders, if any.
Disclaimer: rojgarlive Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
