Adani Green Energy surges; stock up over 67% in five weeks
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Mumbai, Oct. 9 -- Shares of Adani Green Energy Ltd have surged over 67% in the last five weeks, backed by heavy volumes. The stock has been gaining since 4 September, and was up in 16 of 22 session.
On Wednesday, the scrip traded an all-time high of Rs.72.80, rising as much as 7%. So far this year, it has risen 71%.
On 4 October, the company informed exchanges that it has raised $362.50 million via a dollar bond issuance. The dollar bonds, which have a maturity of 20 years, bear an interest rate of 4.625%.
The proceeds raised through the bond issuance will be used explicitly for three subsidiaries of Adani Green-- Wardha Solar (Maharashtra) Pvt Ltd, Kodangal Solar Park Pvt Ltd and Adani Renewable Energy (RJ) Ltd--to repay their respect...
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