Adani Transmission trades higher on receiving Letter of Intent for acquisition of Karur Transmission
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Adani Transmission is currently trading at Rs. 1786.00, up by 16.35 points or 0.92% from its previous closing of Rs. 1769.65 on the BSE.
The scrip opened at Rs. 1799.90 and has touched a high and low of Rs. 1840.00 and Rs 1780.00 respectively. So far 786 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 2030.00 on 26-Nov-2021 and a 52 week low of Rs. 400.00 on 18-Jan-2021.
Last one week high and low of the scrip stood at Rs. 1849.00 and Rs. 1660.00 respectively. The current market cap of the company is Rs. 194627.89 crore.
The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 23.59% and 1.49% respectively.
Adani Transmission (ATL) has received the Letter of Intent (LoI) for the acquisition of Karur Transmission. ATL won the project through the Tariff-Based Competitive Bidding (TBCB) process and has received the LoI for the Central RE evacuation project. ATL will build, own, operate and maintain the transmission project in Tamil Nadu for a period of 35 years.
ATL’s execution of the project will help evacuate renewable energy from the Karur-Tiruppur region and the estimated capex will be more than Rs 200 crore.
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.
