Adani Green Energy's share price climbed nearly 8% on Thursday after the company's consolidated net profit for the June quarter surged by almost 95% to Rs 629 crore. The company's stock jumped by 6.10% to close at Rs 1,820.70 on the BSE. It rose as much as 7.80% to Rs 1,850 during the day. The NSE rose 7.75% to Rs 1,849.

The company's market capitalization (m-cap) increased by Rs 16,584.82 crore to Rs 2,88,404.79 crore. A BSE filing on Thursday said the company reported a consolidated net profit of Rs 323 crore for the quarter ended June 30. Total income rose to Rs 3,122 crore in the quarter from Rs 2,550 crore in the corresponding period a year ago.

Adani Green Energy CEO Amit Singh said, "Adani Green is well on track to achieve its 2030 capacity target of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation."

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Stock Market falls for 5th consecutive day

Equity market benchmark indices Sensex and Nifty fell for the fifth consecutive session on Thursday, as investors offloaded metals, banking, and financial stocks amid unclear trends in global markets. Traders said heavy outflows of foreign capital on the back of hikes in securities transaction tax and short-term capital gains tax have also negatively impacted market sentiment.

However, strong buying in oil and gas, energy, and auto shares helped the indices offset some losses, they added.
After a sharp decline in intra-day trade, the 30-share BSE Sensex managed to recover some of its lost ground to settle 109.08 points or 0.14% lower at 80,039.80, as Tata Motors and Larson & Toubro rallied sharply. The index had tanked 671 points, or 0.83%, to 79,477.83 on Wednesday.

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(With PTI's Input)