Adani Power overtakes Infosys as India's 11th most valuable, ₹4.85L/cr
Business
Adani Power has jumped ahead of Infosys to become India's 11th most valuable company, with its market cap hitting ₹4.85 lakh crore.
This big move comes after the company's stock soared 68% this year, driven by higher electricity demand during India's intense heatwave and a strong El Nino effect.
Heatwave lifts Adani Power, Infosys down
With 97 of the world's 100 hottest cities now in India, power usage has shot up, sending Adani Power shares to a 52-week high and delivering a staggering 1,213% return over five years.
On the flip side, Infosys is struggling as AI disrupts IT services; its stock is down 29% this year despite rupee depreciation, highlighting how fast things are shifting between energy and tech.