Adani Transmission moves up on signing definitive agreement with Essar Power
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Adani Transmission is currently trading at Rs. 1982.20, up by 29.20 points or 1.50% from its previous closing of Rs. 1953.00 on the BSE.
The scrip opened at Rs. 2015.05 and has touched a high and low of Rs. 2029.65 and Rs. 1925.00 respectively. So far 9435 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3000.00 on 12-Apr-2022 and a 52 week low of Rs. 860.50 on 02-Aug-2021.
Last one week high and low of the scrip stood at Rs. 2235.00 and Rs. 1900.00 respectively. The current market cap of the company is Rs. 221826.87 crore.
The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 23.78% and 1.30% respectively.
Adani Transmission (ATL) has signed definitive agreements with Essar Power (EPL) for acquiring 673 ckt kms operational inter-state transmission project owned and operated by Essar Power Transmission (EPTCL). The enterprise value for the transaction is Rs 1,913 crore. The acquisition of Essar’s transmission asset will consolidate ATL’s presence in central India. With this acquisition, ATL is well on path to achieve its 20,000 ckt kms target before time.
The acquisition is in line with ATL's value added growth strategy through organic as well as inorganic growth opportunities. With this acquisition, the cumulative network of ATL will reach 19,468 ckt kms, out of which 14,952 ckt kms is operational and 4,516 ckt kms is under various stages of execution.
Further, with this scale of operations, ATL will derive synergies in terms of O&M cost optimization and shared resources. It will also fortify its position of being the largest private sector transmission and distribution company in the country. The asset will be operated in line with ATL’s operational excellence framework committed to the highest standard of Environment, Social and Governance (ESG) aspects.
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.
