Adani Transmission rises on getting shareholders' nod to raise Rs 2,500 crore
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Adani Transmission is currently trading at Rs. 980.00, up by 10.15 points or 1.05 % from its previous closing of Rs. 969.85 on the BSE.
The scrip opened at Rs. 965.00 and has touched a high and low of Rs. 993.95 and Rs. 960.40 respectively. So far 537 shares were traded on the counter.
The BSE group 'T ' stock of face value Rs. 10 has touched a 52 week high of Rs. 1647.70 on 07-Jun-2021 and a 52 week low of Rs. 221.00 on 28-Jul-2020.
Last one week high and low of the scrip stood at Rs. 1025.00 and Rs. 926.00 respectively. The current market cap of the company is Rs. 106665.08 crore.
The promoters holding in the company stood at 74.92 % while Institutions and Non-Institutions held 22.85 % and 2.23 % respectively.
Adani Transmission has got shareholders' nod to raise up to Rs 2,500 crore in one or more tranches through the issuance of equity shares, securities and debentures. The proposal to raise up to Rs 2,500 crore was passed by requisite majority in the annual general meeting (AGM) held on July 14, 2021.
The company had proposed to have the flexibility to infuse additional capital, to tap the capital markets and to raise additional long-term resources, if necessary. This was aimed at sustaining rapid growth in the business, expanding business, and improving the financial leveraging strength of the company.
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.
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