Indian stock market shows significant growth: Sensex index rose by 600 points, Reliance shares increased significantly
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Aaj Tak
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Indian stock market shows significant growth: Sensex index rose by 600 points, Reliance shares increased significantly

The Indian stock market is experiencing a period of impressive growth. On Friday, after opening, the Sensex demonstrated a sharp rise of 594 points, reaching a daily high of 76,746.80. Similar growth was observed in Nifty, which opened in the green zone and reached the mark of 23,949.85, showing an increase of 76.4 points.

Out of the top 30 BSE stocks, only three showed a decline, while the remaining 27 grew. The largest growth was recorded among Tata Trent shares, which rose by 2.41%. This was followed by a 2% increase in Reliance shares. Additionally, Indigo, BEL, and Bajaj shares were also trading in the plus.

Meanwhile, the market capitalization of BSE increased by approximately 200 billion rupees, reaching 489.06 trillion rupees. In total, 2,205 stocks were trading higher, while 1,246 were in the red. 130 stocks reached a fifty-two-week high, and 59 traded at a fifty-two-week low. 103 stocks hit the lower price limit, and 112 hit the upper limit.

Some stocks showed significant growth: Puravankara shares rose by 10%, reaching 232 rupees per share. HBL Engineering shares increased by 8%, trading at a price of 714 rupees. Tejas Network shares rose by 8%, reaching 613 rupees. ICFI shares showed a growth of 5%, and Angel One shares also increased by 5%. Physicswala shares demonstrated a growth of 4%.

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Adani Company Wins Major Power Transmission Project in Maharashtra, Shares Rise
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Adani Company Wins Major Power Transmission Project in Maharashtra, Shares Rise

The Adani Group company has secured a significant contract, which triggered a sharp rise in its stock price. This order is related to a power transmission project in the state of Maharashtra, with a value of approximately 4,700 crore rupees.

This project involves the creation of renewable energy and pumping storage with a capacity of 4,500 MW. Following the announcement of this project, shares of Energy Solution Limited (Adani Energy Solutions Ltd) reached 1,637.75 rupees, representing a 2.5% increase after an initial decline.

As part of the network expansion program, this project will cover operations from Katter to pumping storage in the Western region. The Adani company won this tender by offering the lowest price.

This project will ensure the delivery of renewable energy from Karnataka to major consumption nodes in Maharashtra, and will also support the pumping storage ecosystem in the metropolises of Satara, Pune, and Mumbai.

The project, which will be implemented through a Special Purpose Vehicle (SPV) named 'Satara Power Transmission Limited', is scheduled for completion within 36 months. The realization of this project will add 562 kilometers of transmission lines and 9,000 MVA of transformer capacity to AESL's portfolio.

The works include the construction of a 765/400 kV substation in Satara, the laying of a 765 kV two-circuit transmission line Kolapur-Satara, as well as increasing the capacity of the Kolapur pumping station, alongside carrying out associated transmission infrastructure work.

Adani Energy Solutions shares have shown impressive returns: they have grown by 60% over six months. In the current year, the stock has shown a growth of 53%. Furthermore, investor investments have doubled over one year, and the shares have shown an 83% growth over five years.

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