New Delhi: Shares of Adani Green Energy Ltd (AGEL) surged in early trade today after a massive block deal took place on the exchanges. Despite the company’s stock closing at ₹999.55 in the previous session, the block deal was executed at a lower price of ₹970, raising questions about who sold the shares at a discount.
According to media reports, French energy giant TotalEnergies offloaded 1.4% stake in Adani Green. The transaction involved the sale of 2.24 crore shares, valued at approximately ₹2,178 crore. Following the block deal, AGEL’s stock jumped to ₹1,027.70 on the BSE during early trade.
AGEL shares opened today at ₹1,010.35, later touching an intraday high of ₹1,027.70 and a low of ₹1,005. The stock’s 52-week range spans from a high of ₹1,250 to a low of ₹758.
TotalEnergies’ Shareholding in Adani Green
As per the latest shareholding pattern available on stock exchange websites, TotalEnergies holds stakes in AGEL through two subsidiaries:
- TotalEnergies Renewables Indian Ocean Ltd: 15.58%
- TotalEnergies Solar Wind Indian Ocean Ltd: 3.41%
This indicates that the French energy major continues to remain a significant shareholder even after the partial sell-off.
How the Stock Has Performed
- Promoter holding: 62.4%
- Public shareholding: 37.6%
Over the past year, AGEL’s share price has seen a steep decline of 17.85%.
- Year-to-date loss: 4.5%
- Six-month decline: 3.34%
- Three-month performance: the stock recovered 5.93%
- One-month movement: a sharp fall of 5.72%
Despite the recent weakness, the early rebound today signals renewed investor interest following the block deal activity.