Adani Energy Acquires Transmission System In MP From REC Subsidiary; Stock Up 8%
Adani Energy Solutions Ltd. on Thursday announced the acquisition of Mahan Transmission Ltd., a project SPV for development of an intrastate transmission system scheme from REC Power Development & Consultancy Ltd.
MTL will transmit 1,230 megawatt of power from Adani Power Ltd.'s upcoming 1,600 MW expansion units at Mahan in Madhya Pradesh's Singrauli district and feed into state grid, according to an exchange filing.
"This acquisition is proposed to further AESL's strategy for enhancing value for its shareholders through organic as well as inorganic opportunities," the filing said.
Equity shares of Mahan Transmission are being acquired at a face value of Rs 10 each.
Adani Energy Solutions emerged as the successful developer of this scheme under the tariff-based competitive bidding framework, with RECPDCL acting as the bid process coordinator. RECPDCL is a subsidiary of state-owned REC Ltd.
Adani Energy Share Price Up
Adani Energy Solutions share price advanced 8.2% intraday to Rs 868.95 apiece. The scrip was trading 7.8% higher by 3:00 p.m. The benchmark NSE Nifty 50 was up 0.5%.
The stock has fallen 14% in the last 12 months and risen 7% on a year-to-date basis. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 53.
All seven analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 36%.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
