Having the right connections is beneficial in the share market also

Having the right connections, especially when it is with the PM of a country helps you in the share market also. People realize that you have the right connection and they give a better discount to your company although the other company may have a reliable reputation and have a better pedigree.
Thus, although Tata Power has much better income and profit history, Adani Power is treated much better by the share market.

I mention here two companies, both dealing in power. One is Adani Power and the other is Tata Power.

I give below the December quarter figures of the two companies and the share price of both companies on 9.4.20

Adani Power : Price on 9.4.20 - 30.40
(in Cr.)	19-Dec	19-Sep	19-Jun	19-Mar
Income Statement
Revenue	425.52	16.59	31.9	30.28
Other Income	255.21	245.38	193.77	233.28
Total Income	680.73	261.97	225.67	263.56
Expenditure	-738.81	-330.23	-1,334.50	-317.26
Interest	-316.26	-304.98	-287.85	-283.85
PBDT	-58.08	-68.26	-1,108.83	-53.7
Depreciation	-8.58	-8.86	-8.93	-9.12
PBT	-66.66	-77.12	-1,117.76	-62.82
Tax	--	--	--	--
Net Profit	-66.66	-77.12	-1,117.76	-62.82
Equity	3,856.94	3,856.94	3,856.94	3,856.94
EPS	-0.69	-0.72	-3.42	-0.49
CEPS	-0.15	-0.18	-2.87	-0.14
OPM %	-13.65	-411.45	-3475.96	-177.34
NPM %	-15.67	-464.86	-3503.95	-207.46
Tata Power: Price on 9.4.20 - 36.50
(in Cr.)	19-Dec	19-Sep	19-Jun	19-Mar
Income Statement
Revenue	1,932.22	1,993.21	2,036.54	2,169.83
Other Income	1.32	121.07	374.09	99.62
Total Income	1,933.54	2,114.28	2,410.63	2,269.45
Expenditure	-1,571.30	-1,600.12	-1,725.65	-2,011.51
Interest	-378.43	-385.38	-386.96	-444.33
PBDT	362.24	514.16	684.98	257.94
Depreciation	-188.45	-162.07	-163.05	-160.57
PBT	173.79	352.09	521.93	97.37
Tax	23.61	-11.52	-23.28	32.59
Net Profit	6.94	154.61	296.51	53.86
Equity	270.5	270.5	270.5	270.5
EPS	-0.08	0.38	1.06	0.19
CEPS	0.72	1.17	1.7	0.79
OPM %	18.75	25.8	33.63	11.89
NPM %	0.36	7.76	14.56	2.48