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Adani Transmission advances on incorporating wholly owned subsidiary

Adani Transmission advances on incorporating wholly owned subsidiary

Adani Transmission is currently trading at Rs. 327.00, up by 8.25 points or 2.59% from its previous closing of Rs. 318.75 on the BSE.

The scrip opened at Rs. 319.25 and has touched a high and low of Rs. 333.10 and Rs. 319.25 respectively. So far 15674 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 341.40 on 02-Dec-2019 and a 52 week low of Rs. 180.00 on 07-Jan-2019.

Last one week high and low of the scrip stood at Rs. 341.40 and Rs. 303.30 respectively. The current market cap of the company is Rs. 35056.45 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 23.35% and 1.74% respectively.

Adani Transmission has incorporated a wholly owned subsidiary (WOS) namely, ‘Adani Electricity Mumbai Services’ (AEMSL) on December 06, 2019. AEMSL is yet to commence its business. The company has incorporated subsidiary for providing various services.

Adani Transmission is a holding company. The company operates as a power transmission company. It is engaged in transmission of electric energy and trading of castor oil.