TotalEnergies will reduce its stake in Gautam Adani's company Adani Green Energy Ltd.
There is a lot of boom in the companies of Gautam Adani, the world's third-largest rich.
French company TotalEnergies SE wants to take advantage of this boom in Gautam Adani's companies.
According to a Bloomberg report, TotalEnergies SE may sell some of its stake in Adani Green Energy Ltd., a part of the Adani Group.
TotalEnergies holds a 20% stake in Adani Green Energy. It wants to cut profits by selling some of its stakes.
French company TotalEnergies bought a 20 percent stake in Adani Green Energy for $2 billion in 2021.
Let us tell you that by the end of August, the value of this 20 percent stake had reached about $ 10 billion.
Shares of Adani Green have gained 54% this year. While the Sensex fell 1.8 percent during this period.
Adani Green Energy has set a target of investing around $70 billion in its business by 2030. which is huge.
Adani Green Energy has declined 15% so far this month. But Pouyanne said the company's balance sheet is fine.
Adani Group aims to become the world's largest renewable power producer by the end of this decade.