While 'green' stocks worldwide struggled amid an overall volatile environment in the past year, Adani Green Energy Ltd — a renewable energy company owned by India's richest person has skyrocketed in value.
The Gautam Adani-owned company's stock has been investors' hot favorite in the green energy segment. On Monday, the company replaced the country's largest lender State Bank of India, to grab the seventh position among the most valued companies on the Indian bourses. According to India's benchmark index Sensex data, Adani Green Energy's market cap rose to an all-time high of $61 billion (INR 4.69 Lakh crore), with its stock hitting a fresh historic high daily in the past few trading sessions.
