Adani is Lit!

Tale of the Tape

Good evening everyone and a very happy looooong weekend. ICYMI – markets are closed for Baba Saheb Ambedkar Jayanti and Good Friday celebration. 😇

Nifty and Sensex reversed early gains to close down for a third straight day. Concerns over 17-month high domestic inflation plus weak global cues dented investor sentiment. Midcaps (-0.1%) and Smallcaps (+0.2%) traded mixed. 📉

Most sectors ended higher. Metals (+0.6%) pulled back after yesterday’s ugly cut. Auto (-0.8%) stocks closed down for a third straight day. 👎

Infosys (+0.5%) will report its Q4 results later today. Analysts expect the company’s Sales and Net Profit to grow by 3% over the previous quarter. 📊

Adani Green (+3%) is now more valuable than Bharti Airtel, Kotak Mahindra Bank, and ITC! What’s fuelling the rally? Find out below. 📈

Sarda Energy (+7%) hit a new all-time high after ace investor Mukul Agarwal bought a 1.1% stake. 💰

Mrs. Bector Foods cracked 9% after 96 lakh shares (16% equity) changed hands in multiple block deals. 🔻

Bumper listing. Hariom Pipe kicked off its Dalal Street debut in style. The stock closed at Rs 231 per share, +51% from its issue price. 🤑

Fertilizer stocks were in high demand on reports of higher Government subsidies. Mangalore Chemical & Fertilizers, Deepak Fertilizer, and RCF rallied between 4%-7% each. 🌾

Cryptos had a rare green day. Bitcoin and Ethereum rose 1% each. Shiba Inu soared +25% after listing on Robinhood. 🚀

Here are the closing prints:

Nifty	17,475	-0.3%
Sensex	58,338	-0.4%
Bank Nifty	37,463	-0.8%

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Adani Green (+3%) overtook Bharti Airtel to become India’s 10th most valuable company! 🔥

Adani Green is on a hot streak. We’re only in the second week of April and the stock has bazooka-ed ~50%. With this, the company’s market cap crossed the Rs 4.5 lakh crore mark. For those wondering, that’s 12 freaking zeros!! 🤯

What’s the deal bro? Adani Green is one of the world’s largest renewable energy companies. As we all know, the Government is focused on reducing its dependence on fossil fuels for its energy requirements. Consequently, Adani is investing heavily to scale up its already beefy renewable energy portfolio spanning solar, wind, and hydro. FYI – The company aims to add 45 GW of renewable energy capacity by 2030. The $2 billion fundraise from Abu Dhabi-based International Holding Co (IHC) would come in handy. 💰

Big Picture: India is the world’s third-biggest emitter and remains deeply reliant on coal to meet its energy demands. Going forward, the Government aims to change this and generate 50% of its power requirements from renewable sources. According to credit rating agency ICRA, the country needs to add 42GW every year over the next eight years to meet this target. ♻️

What next? Technical trader Skill Matters believes the stock may have topped out in the near term. He expects Adani Green to retest 2677-2700 levels before resuming the uptrend. Follow Skill Matters for more amazing insights like these and add $ADANIGREEN.NSE to your watchlist to track its performance. Here’s the link: https://bit.ly/3zL3xJ

Movers and Shakers

Here’s a look at this week’s top Nifty 500 movers. Gujarat Ambuja Exports rallied +21% after Saurabh Mukherjea-led Marcellus Investment added it to their “Little Champs” portfolio. 🥇 Godfrey Phillips (+19%) posted its best weekly gain since Sept 2021. Bajaj Holding (-11%) witnessed profit booking. 📉 L&T Technology Services (-10%) closed down for a second straight week. Check out their charts below: