Mumbai, 3 September (Kiran News) — Shares of Adani Power saw a modest rise on the BSE today after the company received approval from the Ministry of Coal, Government of India, to start operations at its Dhirauli Mine in the Singrauli district of Madhya Pradesh. The stock traded at Rs. 609.60, up by 1.70 points or 0.28% from its previous close of Rs. 607.90.
The scrip opened at Rs. 609.50 and touched an intraday high of Rs. 616.35 and a low of Rs. 605.00. Trading volume on the counter stood at 2,16,459 shares. Adani Power’s market capitalisation is currently Rs. 2,35,003.29 crore. Over the past 52 weeks, the stock has recorded a high of Rs. 681.30 (on 16 September 2024) and a low of Rs. 430.85 (on 21 November 2024). For the last week, the share price moved between Rs. 616.35 and Rs. 583.35.
As per the latest shareholding pattern, promoters hold 74.96% of the company, while institutional and non-institutional investors hold 14.22% and 10.82%, respectively.
The Ministry of Coal’s approval allows Adani Power to begin mining at the Dhirauli Mine, which is owned by Mahan Energen, a subsidiary of Adani Power. The mine has a peak production capacity of 6.5 million tonnes per annum (MTPA), with 5 MTPA from open cast mining and the remaining from underground operations. According to the geological report, the block has a gross geological reserve of 620 million metric tonnes (MMT) and a net geological reserve of 558 MMT, supporting long-term supply and operational stability.
In line with responsible mining initiatives, Adani Power may wash and process coal within the mining area to minimise the transport of impurities and inert materials, helping reduce emissions. This is the company’s first captive mine to receive government approval to commence mining operations. The open cast peak rated capacity is expected to be achieved by FY27, with underground mining scheduled to start nine years later.
Adani Power is engaged in the business of generation, accumulation, distribution, and supply of electricity and other forms of energy from various sources.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.