Adani Energy Solutions jumps on executing SPA with PFC Consulting to acquire 100% stake in NTL
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Adani Energy Solutions is currently trading at Rs. 1028.45, up by 24.30 points or 2.42% from its previous closing of Rs. 1004.15 on the BSE.
The scrip opened at Rs. 1009.00 and has touched a high and low of Rs. 1038.30 and Rs. 1004.25 respectively. So far 88948 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1347.90 on 01-Aug-2024 and a 52 week low of Rs. 686.90 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1038.30 and Rs. 964.00 respectively. The current market cap of the company is Rs. 123551.92 crore.
The promoters holding in the company stood at 69.94%, while Institutions and Non-Institutions held 24.04% and 6.02% respectively.
Adani Energy Solutions (AESL) has executed Share Purchase Agreement (SPA) with PFC Consulting for acquiring 100% Equity Shares of Navinal Transmission (NTL). NTL Projects includes Establishment of 4x1500 MVA, 765/400 kV Navinal (Mundra) S/s (GIS) with 2x330 MVAR, 765 kV and 1x125 MVAr, 420 kV bus reactors and setting up of around 129 km (515 ckm) transmission line. This acquisition is proposed to further AESL’s strategy for enhancing value for its shareholders through organic as well as inorganic opportunities. NTL will aim to implement to drawl of up to 4.5 GW load in Mundra area from bulk consumers/ Distribution licensee and Green Hydrogen.
Adani Energy Solutions (formerly known as Adani Transmission) is the transmission business arm of the Adani Group, one of India’s largest business conglomerates.
