Adani Power jumps as GQG Partners, other investors buy 8.1% stake in the company
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Adani Power is currently trading at Rs. 283.35, up by 4.05 points or 1.45% from its previous closing of Rs. 279.30 on the BSE.
The scrip opened at Rs. 284.70 and has touched a high and low of Rs. 288.45 and Rs. 282.00 respectively. So far 1232249 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 432.80 on 22-Aug-2022 and a 52 week low of Rs. 132.55 on 28-Feb-2023.
Last one week high and low of the scrip stood at Rs. 291.50 and Rs. 274.65 respectively. The current market cap of the company is Rs. 109556.35 crore.
The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 11.99% and 13.04% respectively.
GQG Partners along with other investors has bought an 8.1 per cent stake in Adani Power for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group. GQG Partners and other investors bought 31.2 crore shares of Adani Power in a block deal.
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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