Sunday , October 17 2021

Adani Power touches roof on emerging as successful bidder for Essar Power’s thermal power project in MP

Adani Power is currently trading at its upper circuit limit of Rs. 120.60, up by 5.70 points or 4.96% from its previous closing of Rs. 114.90 on the BSE.

The scrip opened at Rs. 109.20 and has touched a high and low of Rs. 120.60 and Rs. 109.20 respectively. So far 3404957 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 10 has touched a 52 week high of Rs. 167.05 on 09-Jun-2021 and a 52 week low of Rs. 34.35 on 14-Jul-2020.

Last one week high and low of the scrip stood at Rs. 140.90 and Rs. 109.20 respectively. The current market cap of the company is Rs. 42117.77 crore.

The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 18.60% and 6.43% respectively.

Adani Power has been emerged as the successful bidder for Essar Power’s 1,200 MW thermal power project in Mahan, Madhya Pradesh (MP). The Adani Power bid for the project has been approved by a committee of creditors. Now, it will have to seek the NCLT approval to acquire the project, which is undergoing insolvency proceedings. The deal size of the project is estimated at around Rs 2,800-Rs 3,000 crore.

Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.

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