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Adani Power’s promoter up its stake via market purchase

08 Mar 2013 Evaluate

Adani Power’s promoter has increased its stake in the company through open market transaction. The promoter, Vinod S Adani, acquired 7.5 million shares representing 0.31% stake of its equity share capital for Rs 33.75 crore via market purchase, translating into an average market price of Rs 44.5 per share on BSE.

Vinod S Adani, although was named a part of the promoter group of Adani Power in its prospectus dated 2009, but did not hold any shares prior to acquisition on March 5, 2013. Promoters, in total, hold 68.32% stake as on December 31, 2012.

The company has reported a net loss of Rs 507.09 crore for the quarter ended December 31, 2012 as compared to a net loss of Rs 358.12 crore for the same quarter in the previous year. However, total income from operation of the company has increased by 64.17% at Rs 1829.00 crore for quarter under review as compared to Rs 1114.07 crore for the quarter ended December 31, 2011.

On the consolidated basis, the company has reported a net loss of Rs 619.01 crore for the quarter ended December 31, 2012 as compared to a net loss of Rs 356.30 crore for the same quarter in the previous year. However, total income from operation of the company has increased by 73.96% at Rs 1927.99 crore for quarter under review as compared to Rs 1108.32 crore for the quarter ended December 31, 2011.

Adani Power Share Price

225.15 -5.00 (-2.17%)
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