Adani Transmission shines as its $700 million revolving facility tagged as Green Loan by Sustainalytics
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Adani Transmission is currently trading at Rs. 2084.45, up by 27.45 points or 1.33% from its previous closing of Rs. 2057.00 on the BSE.
The scrip opened at Rs. 2080.05 and has touched a high and low of Rs. 2119.95 and Rs. 2071.60 respectively. So far 3750 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. 2130.00 and Rs. 1984.15 respectively. The current market cap of the company is Rs. 232518.87 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’s $700 million revolving facility has been tagged as green loan by Sustainalytics. This provides assurance on the green loan framework for the revolving facility. The company has been a signatory to energy compact goals as part of COP26 and the energy compact with UN in November, 2021. Second Party Opinion (SPO) from Sustainalytics is the testament to overall philosophy of Adani Transmission to facilitate transition to green energy by increasing the share of renewable power in the overall grid, in line with India’s commitment on climate change.
The projects associated with the $700 million revolving facility are being implemented in the states of Gujarat and Maharashtra. In Gujarat, these projects are part of the Government of India’s Green Energy Corridor Projects (GEC), dedicated to the evacuation and transmission of renewable energy. In Maharashtra the projects are conceptualized to strengthen the Mumbai’s transmission system by enhancing grid stability and providing a stable transmission network which shall promote higher share of renewable energy in the overall grid mix ensuring more penetration of green energy to the end consumers.
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.
