Adani Power is currently trading at Rs. 131.75, up by 8.00 points or 6.46% from its previous closing of Rs. 123.75 on the BSE.
The scrip opened at Rs. 124.85 and has touched a high and low of Rs. 134.35 and Rs. 124.15 respectively. So far 5211953 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 167.05 on 09-Jun-2021 and a 52 week low of Rs. 69.95 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 134.35 and Rs. 122.30 respectively. The current market cap of the company is Rs. 50795.89 crore.
The promoters holding in the company stood at 74.97%, while Institutions and Non-Institutions held 16.56% and 8.46% respectively.
Adani Power’s board has approved an amalgamation scheme for the merger of its six wholly-owned subsidiaries with itself. The subsidiaries to be merged with Adani Power are Adani Power Maharashtra, Adani Power Rajasthan, Adani Power (Mundra), Udupi Power Corporation, Raipur Energen, and Raigarh Energy Generation. These companies are wholly-owned subsidiaries of Adani Power.
The Appointed Date of the scheme will be October 1, 2021. The entire assets and liabilities of these six arms will be transferred to Adani Power. The proposed amalgamation envisaged under this scheme is intended to achieve size, scalability, integration, improved controls, cost and resource use optimisation, greater financial strength and flexibility, thereby building a more resilient and robust organisation that address dynamic business situations and volatility in various economic factors in a focused manner, to achieve improved long-term financial returns.
There will be no change in the equity shareholding pattern of the company under the scheme, as no shares are being issued by the firm in connection with the scheme. The six arms of Adani Power are also engaged in the business of generation and sale of power. The Board of Directors of the company at its Meeting held on March 22, 2022, approved the same.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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