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ADANI GREEN ENERGY LTD Share Price Today

ADANI GREEN ENERGY LTD is currently trading at ₹1482.5, down by ₹0.09 from the previous close. The stock touched an intraday high of ₹1496.00 and a low of ₹1472.60 during the latest trading session. Over the past one year, ADANI GREEN ENERGY LTD has delivered a return of 49.45%, while the stock has gained 7.51% in the last one month.

ADANI GREEN ENERGY LTD performance

Today’s low Today’s high
₹ 1472.60 ₹ 1496.00
₹ 1481.70
52 week low 52 week high
₹ 765.00 ₹ 1544.80
₹ 1481.70
Open Price ₹ 1489.60
Prev. Close ₹ 1482.60
Volume (Shares) 1250619.00
Total traded value ₹ 18530.42
Upper Circuit ₹ 1630.80
Lower Circuit ₹ 1334.40
info

Investment Returns

Over 1 Month 7.51% Over 3 Months 71.01% Over 6 Months 41.52% Over 1 Year 49.45%
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ADANI GREEN ENERGY LTD fundamentals


  • Market cap (Cr) 2,43,996.20
  • P/E Ratio (TTM) 404.07
  • Beta 1.76
  • Book Value / share 90.39
  • Return on equity 7.01%
  • EPS (TTM) 4.98
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 13.00
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  • Market cap (Cr) 2,44,111.50
  • P/E Ratio (TTM) 404.07
  • Beta 1.56
  • Book Value / share 90.39
  • Return on equity 7.01%
  • EPS (TTM) 4.98
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 13.00
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ADANI GREEN ENERGY LTD Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 6216.00
Operating Expense 6465.00
Net Profit 13.00
Net Profit Margin (%) 0.20
Earnings Per Share (EPS) 0.07
EBITDA 359.00
Effective Tax Rate (%) 150.00
Particulars DEC 2025 (Values in Cr)
Revenue 3257.00
Operating Expense 3554.00
Net Profit 82.00
Net Profit Margin (%) 2.51
Earnings Per Share (EPS) 0.49
EBITDA 426.00
Effective Tax Rate (%) 0.00
Particulars SEP 2025 (Values in Cr)
Revenue 3791.00
Operating Expense 3867.00
Net Profit 475.00
Net Profit Margin (%) 12.52
Earnings Per Share (EPS) 2.92
EBITDA 672.00
Effective Tax Rate (%) -43.50
Particulars JUN 2025 (Values in Cr)
Revenue 4763.00
Operating Expense 4949.00
Net Profit 34.00
Net Profit Margin (%) 0.71
Earnings Per Share (EPS) 0.21
EBITDA 401.00
Effective Tax Rate (%) 5.55
Particulars MAR 2025 (Values in Cr)
Revenue 6463.00
Operating Expense 6543.00
Net Profit 83.00
Net Profit Margin (%) 1.28
Earnings Per Share (EPS) 0.45
EBITDA 557.00
Effective Tax Rate (%) 51.46
Particulars MAR 2026 (Values in Cr)
Revenue 18027.00
Operating Expense 18835.00
Net Profit 604.00
Net Profit Margin (%) 3.35
Earnings Per Share (EPS) 3.59
EBITDA 1858.00
Effective Tax Rate (%) -42.78
Particulars MAR 2025 (Values in Cr)
Revenue 19530.00
Operating Expense 19910.00
Net Profit 654.00
Net Profit Margin (%) 3.34
Earnings Per Share (EPS) 3.74
EBITDA 2572.00
Effective Tax Rate (%) 14.17
Particulars MAR 2024 (Values in Cr)
Revenue 11930.00
Operating Expense 13347.00
Net Profit -546.00
Net Profit Margin (%) -4.57
Earnings Per Share (EPS) -3.84
EBITDA 1060.00
Effective Tax Rate (%) -11.20
Particulars MAR 2023 (Values in Cr)
Revenue 7629.00
Operating Expense 8675.00
Net Profit -328.00
Net Profit Margin (%) -4.29
Earnings Per Share (EPS) -2.47
EBITDA 570.00
Effective Tax Rate (%) 1.50
Particulars MAR 2022 (Values in Cr)
Revenue 10671.00
Operating Expense 11280.00
Net Profit -57.00
Net Profit Margin (%) -0.53
Earnings Per Share (EPS) -0.76
EBITDA 653.00
Effective Tax Rate (%) 55.81
Particulars MAR 2026 (Values in Cr)
Book Value / Share 117.12
ROE % 13.72
ROCE % 7.96
Total Debt to Total Equity 5.72
EBITDA Margin 93.54
Particulars MAR 2025 (Values in Cr)
Book Value / Share 52.87
ROE % 20.25
ROCE % 9.41
Total Debt to Total Equity 6.36
EBITDA Margin 94.03
Particulars MAR 2024 (Values in Cr)
Book Value / Share 43.43
ROE % 16.12
ROCE % 10.01
Total Debt to Total Equity 6.64
EBITDA Margin 96.84
Particulars MAR 2023 (Values in Cr)
Book Value / Share 37.12
ROE % 22.13
ROCE % 7.58
Total Debt to Total Equity 10.79
EBITDA Margin 75.33
Particulars MAR 2022 (Values in Cr)
Book Value / Share 7.61
ROE % 14.89
ROCE % 7.30
Total Debt to Total Equity 16.00
EBITDA Margin 77.09
Particulars MAR 2026 (Values in Cr)
Book Value / Share 90.41
ROE % 7.01
ROCE % 5.45
Total Debt to Total Equity 1.85
EBITDA Margin 11.31
Particulars MAR 2025 (Values in Cr)
Book Value / Share 32.35
ROE % 9.24
ROCE % 8.09
Total Debt to Total Equity 2.75
EBITDA Margin 13.62
Particulars MAR 2024 (Values in Cr)
Book Value / Share 27.85
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 2.78
EBITDA Margin 9.67
Particulars MAR 2023 (Values in Cr)
Book Value / Share 30.98
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 3.90
EBITDA Margin 8.35
Particulars MAR 2022 (Values in Cr)
Book Value / Share 9.72
ROE % -4.18
ROCE % 3.68
Total Debt to Total Equity 4.77
EBITDA Margin 5.73
Particulars MAR 2026 (Values in Cr)
Cash & Short Term Investments 2766.00
Total Assets 144097.00
Total Liabilities 144097.00
Total Equity 29879.00
Share Outstanding 164
Price to Book Ratio 8.92
Return on Assets (%) 1.14
Return on Capital (%) 1.27
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 3332.00
Total Assets 111398.00
Total Liabilities 111398.00
Total Equity 22573.00
Share Outstanding 158
Price to Book Ratio 29.34
Return on Assets (%) 1.29
Return on Capital (%) 1.43
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 8764.00
Total Assets 88538.00
Total Liabilities 88538.00
Total Equity 17448.00
Share Outstanding 158
Price to Book Ratio 65.85
Return on Assets (%) 1.24
Return on Capital (%) 1.37
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1984.00
Total Assets 67361.00
Total Liabilities 67361.00
Total Equity 7350.00
Share Outstanding 158
Price to Book Ratio 28.47
Return on Assets (%) 1.44
Return on Capital (%) 1.62
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 1593.00
Total Assets 59167.00
Total Liabilities 59167.00
Total Equity 2614.00
Share Outstanding 156
Price to Book Ratio 196.85
Return on Assets (%) 0.82
Return on Capital (%) 0.89
Particulars MAR 2026 (Values in Cr)
Cash & Short Term Investments 259.00
Total Assets 51955.00
Total Liabilities 51955.00
Total Equity 14890.00
Share Outstanding 164
Price to Book Ratio 8.92
Return on Assets (%) 1.16
Return on Capital (%) 1.66
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 938.00
Total Assets 41867.00
Total Liabilities 41867.00
Total Equity 8212.00
Share Outstanding 158
Price to Book Ratio 29.34
Return on Assets (%) 1.56
Return on Capital (%) 2.35
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 6076.00
Total Assets 41383.00
Total Liabilities 41383.00
Total Equity 7498.00
Share Outstanding 158
Price to Book Ratio 65.85
Return on Assets (%) -1.31
Return on Capital (%) -1.83
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 566.00
Total Assets 28664.00
Total Liabilities 28664.00
Total Equity 5656.00
Share Outstanding 158
Price to Book Ratio 28.47
Return on Assets (%) -1.14
Return on Capital (%) -1.75
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 369.00
Total Assets 27963.00
Total Liabilities 27963.00
Total Equity 2269.00
Share Outstanding 156
Price to Book Ratio 196.85
Return on Assets (%) -0.20
Return on Capital (%) -0.3
Particulars MAR 2026 (Values in Cr)
Net Income 1584.00
Cash from Operations 10278.00
Cash from Investing -26227.00
Cash from Financing 15615.00
Net change in Cash -477.00
Free Cash Flow 36375.00
Particulars MAR 2025 (Values in Cr)
Net Income 1771.00
Cash from Operations 9179.00
Cash from Investing -19827.00
Cash from Financing 11475.00
Net change in Cash 605.00
Free Cash Flow 33955.00
Particulars MAR 2024 (Values in Cr)
Net Income 1382.00
Cash from Operations 7763.00
Cash from Investing -21060.00
Cash from Financing 13953.00
Net change in Cash 606.00
Free Cash Flow 23536.00
Particulars MAR 2023 (Values in Cr)
Net Income 1367.00
Cash from Operations 7254.00
Cash from Investing -3857.00
Cash from Financing -2973.00
Net change in Cash 435.00
Free Cash Flow 10630.00
Particulars MAR 2022 (Values in Cr)
Net Income 552.00
Cash from Operations 3147.00
Cash from Investing -19348.00
Cash from Financing 15986.00
Net change in Cash -235.00
Free Cash Flow 18006.00
Particulars MAR 2026 (Values in Cr)
Net Income 423.00
Cash from Operations 2687.00
Cash from Investing -7461.00
Cash from Financing 4266.00
Net change in Cash -495.00
Free Cash Flow 4174.00
Particulars MAR 2025 (Values in Cr)
Net Income 762.00
Cash from Operations 583.00
Cash from Investing 4581.00
Cash from Financing -4896.00
Net change in Cash 237.00
Free Cash Flow 1965.00
Particulars MAR 2024 (Values in Cr)
Net Income -491.00
Cash from Operations -2438.00
Cash from Investing -7393.00
Cash from Financing 9754.00
Net change in Cash -121.00
Free Cash Flow -2228.00
Particulars MAR 2023 (Values in Cr)
Net Income -333.00
Cash from Operations 4995.00
Cash from Investing -2491.00
Cash from Financing -2013.00
Net change in Cash 499.00
Free Cash Flow 5403.00
Particulars MAR 2022 (Values in Cr)
Net Income -130.00
Cash from Operations 1458.00
Cash from Investing -12488.00
Cash from Financing 11028.00
Net change in Cash -5.00
Free Cash Flow 1477.00
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
CESC LTD 168.95 14.53 1.78 22395.51 138.05 204.40
TATA POWER CO LTD 403.90 33.80 3.27 129059.76 342.35 464.80
SRM ENERGY LTD. 18.64 0.00 -0.36 16.89 10.09 30.07
NLC India Limited 317.65 12.51 2.04 44046.51 220.25 387.70
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
CESC LTD 168.95 26.28 2.30 22395.51 138.05 204.40
TATA POWER CO LTD 403.90 115.40 7.00 129059.76 342.35 464.80
SRM ENERGY LTD. 18.64 38.04 -4.61 16.89 10.09 30.07
NLC India Limited 317.65 17.44 2.28 44046.51 220.25 387.70

ADANI GREEN ENERGY LTD shareholding pattern

Holding
21.91%
62.43%
11.09%
4.55%
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News

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ADANI GREEN ENERGY LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
1482.50 0.00 redarrow
red-green-graph indicator
15 Bearish
1 Bullish
  • 5 Days 1481.40
  • 26 Days 1411.70
  • 10 Days 1472.90
  • 50 Days 1310.80
  • 12 Days 1467.40
  • 100 Days 1189.90
  • 20 Days 1438.00
  • 200 Days 1124.70
1490.47 PIVOT
First Support 1468.83 First Resistance 1504.23 Second Support 1455.07 Second Resistance 1525.87 Third Support 1433.43 Third Resistance 1539.63
RSI 59.75 ADX 31.03 MACD 55.67 Williams % R -41.80 Commodity Channel Index (CCI) 68.34
Date 2026-06-15 Week 830753.00 Same Day 619630.00 Month 1099457.00
1 Year 1.77 3 Year 1.74
Over 1 Month
7.51% down
Over 1 Year
49.45% down
Over 3 Months
71.01% down
Over 3 Years
15.48% down
Over 6 Months
41.52% down
Over 5 Years
4.10% down

ADANI GREEN ENERGY LTD Corporate Actions

Top Gainers

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Top Losers

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About the Company

Adani Green Energy Ltd. (AGEL) is engaged in the development, ownership and operation of solar, wind, hybrid and energy-storage projects in the renewable energy space. The company is listed on the National Stock Exchange under the ticker ADANIGREEN and on the Bombay Stock Exchange under the code 541450. It provides renewable power to utilities, government-backed agencies and commercial clients under long-term power purchase agreements.

AGEL, a member of the Adani Group, was incorporated in 2015 and is based in Ahmedabad, Gujarat. The company operates renewable energy projects across several states in India. It is also involved in battery energy storage and grid-integration technologies associated with renewable power generation. 

AGEL follows a build-own-operate model for renewable-energy assets and also operates through subsidiaries and joint ventures. The company has joint ventures with Total Energies for selected renewable energy projects and portfolios. 

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Board Of Directors

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Gautam S Adani Chairman & Non Executive Dir.
Rajesh S Adani Non-Exec & Non-Independent Dir
Sagar R Adani Executive Director
Vneet S Jaain Executive Director & MD
Sangkaran Ratnam Non Executive Director / Nominee
Raminder Singh Gujral Independent Non Exe. Director
Dinesh Hashmukhrai Kanabar Independent Non Exe. Director
Romesh Sobti Independent Non Exe. Director
Neera Saggi Independent Non Exe. Director
Anup P Shah Independent Non Exe. Director
Mr. Pragnesh Darji Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Adani Green Energy Ltd?

Answer Field

Adani Green Energy Ltd share price is for NSE ₹ 1,482.50 & for BSE ₹ 1,482.00 as on Jun 16 2026 03:30 PM.

What is the Market Cap of Adani Green Energy Ltd Share?

Answer Field

The market cap of Adani Green Energy Ltd for NSE ₹ 0.02 & for BSE ₹ 0.02 as on Jun 16 2026 03:30 PM.

What is the 52 Week High and Low of Adani Green Energy Ltd?

Answer Field

The 52 Week High and Low of Adani Green Energy Ltd for NSE is ₹ 1,544.80 and ₹ 765.00 and for BSE is ₹ 1,544.70 and ₹ 767.00.

What is 1 year return for Adani Green Energy Ltd?

Answer Field

The 1 year returns on the stock has been 49.45%.

What is the P/E Ratio of Adani Green Energy Ltd Share?

Answer Field

As on Jun 16 2026 03:30 PM the price-to-earnings (PE) ratio for Adani Green Energy Ltd share is 404.07.

What is the PB ratio of Adani Green Energy Ltd Share?

Answer Field

As on Jun 16 2026 03:30 PM, the price-to-book (PB) ratio for Adani Green Energy Ltd share is 90.39.

How to Buy Adani Green Energy Ltd Share?

Answer Field

You can trade in Adani Green Energy Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Adani Green Energy Ltd Share on Bajaj Broking App?

Answer Field

To buy Adani Green Energy Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Adani Green Energy Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

What is the 52-week high and low of Adani Green Energy Ltd.?

Answer Field

The 52-week high and low of Adani Green Energy Ltd. indicate the stock's price range over the past year. The highest price reached was ₹2,174.10, while the lowest was ₹870.25. These figures help investors gauge the stock’s volatility and potential investment risk before making trading decisions.

What is the 1-year return for Adani Green Energy Ltd.?

Answer Field

Over the past year, Adani Green Energy Ltd. has delivered a negative return of approximately -41.08%. This decline reflects broader market trends, sector performance, and company-specific factors. Long-term investors analyse historical returns to assess stock performance and make strategic investment choices in the renewable energy industry.

What is the current share price of Adani Green Energy Ltd.?

Answer Field

The current share price of Adani Green Energy Ltd. stands at ₹960.05, reflecting a recent decline of 2.95%. Share prices fluctuate due to market demand, investor sentiment, and sectoral developments. Investors track daily movements to evaluate their investment decisions and market conditions.

What is the market cap of Adani Green Energy Ltd. shares?

Answer Field

The market capitalisation of Adani Green Energy Ltd. shares represents the total valuation of the company's equity. Currently, it stands at ₹1,56,692.50 crore. A higher market cap indicates a company’s stability and dominance in its industry, attracting institutional and retail investors looking for long-term growth potential.

What is the P/E ratio of Adani Green Energy Ltd. shares?

Answer Field

The Price-to-Earnings (P/E) ratio of Adani Green Energy Ltd. is approximately 114.91. This ratio measures the stock’s valuation relative to its earnings. A high P/E suggests strong growth expectations, but it can also indicate overvaluation. Investors use this metric to compare the stock’s valuation with industry peers before investing.

What is the PB ratio of Adani Green Energy Ltd. shares?

Answer Field

The Price-to-Book (P/B) ratio of Adani Green Energy Ltd. is 8.98. This metric compares the stock’s market price to its book value. A high P/B ratio suggests that investors are willing to pay a premium for the company’s assets and future growth potential in the renewable energy sector.

How to buy Adani Green Energy Ltd. shares?

Answer Field

To invest in Adani Green Energy Ltd., open a trading account with a certified stockbroker, complete KYC verification, and deposit funds. Search for the stock, enter the quantity, set a price, and confirm the purchase order. Regularly monitoring stock trends helps investors make informed trading decisions.

How has the Adani Green Share Price performed over the past year?

Answer Field

Over the past year, the Adani Green share price has increased by 60.75%. However, the stock has experienced a decline of -14.14% in the last month.

What is the CAGR of Adani Green Share?

Answer Field

The compound annual growth rate (CAGR) of Adani Green share price is 231% over the last three years and 49% over the last year.

Is Adani Green Energy Ltd debt-free?

Answer Field

No, Adani Green Energy Ltd (AGEL) is not debt-free. As of the latest financial reports, the company has a total debt of ₹679.23 billion, with a high debt-to-equity ratio and a low-interest coverage ratio of 0.68.

What factors influence the Adani Green Share Price?

Answer Field

The Adani Green share price is influenced by a range of factors including supply and demand, company performance, sector performance, and technical indicators. Other factors such as debt-to-equity ratio, interest coverage ratio, cash flow from operations, EBITDA margin, and EV/EBITDA also impact the stock price.

When was Adani Green Energy Ltd established?

Answer Field

Adani Green Energy Ltd was incorporated on January 23, 2015, under the Companies Act 2013, with its certificate of incorporation granted by ROC Ahmedabad, Gujarat.

Who is the CEO of Adani Green Energy Ltd?

Answer Field

Vneet S. Jaain is the Managing Director and CEO of Adani Green Energy Ltd (AGEL).

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No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

Please Note:

  1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020

  2. Update your mobile number & email ID with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

  3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

  4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.

  5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE

If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email us or call on the toll free number.

Advisory for Investors : NSE | BSE

We also do pro-account trading in Equity & Derivatives Segment.

Filling complaints on SCORES - Easy & Quick

A.  Register on SCORES portal B. Mandatory details for filling complaints on SCORES (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.

SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

Compliance officer:

Mr. Saksham Kaushik 
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.

DISCLAIMER

STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.