Adani Energy Solutions zooms on entering into definitive documents with Megha Engineering & Infrastructures
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Adani Energy Solutions is currently trading at Rs. 880.00, up by 58.30 points or 7.10% from its previous closing of Rs. 821.70 on the BSE.
The scrip opened at Rs. 822.05 and has touched a high and low of Rs. 894.35 and Rs. 822.05 respectively. So far 225487 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4238.55 on 16-Sep-2022 and a 52 week low of Rs. 630.00 on 01-Mar-2023.
Last one week high and low of the scrip stood at Rs. 894.35 and Rs. 791.00 respectively. The current market cap of the company is Rs. 97432.71 crore.
The promoters holding in the company stood at 68.28%, while Institutions and Non-Institutions held 23.47% and 8.25% respectively.
Adani Energy Solutions has entered into definitive documents with Megha Engineering & Infrastructures for acquisition of KPS1 Transmission (KPS1) in a manner consistent with Transmission Service Agreement and applicable consents.
The proposal was approved by the committee of the Board of Directors of the Company at its meeting held on August 17, 2023. KPS1 Project includes implementation of KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line & augmentation of Khavda PS1. This acquisition is proposed to further company’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities.
Adani Energy Solutions (formerly known as Adani Transmission) is the transmission business arm of the Adani Group, one of India’s largest business conglomerates.
