Adani Power Rises Over 2%, Majority Of Group Firms Settles In Green

Shares of Adani Power climbed over 2 per cent on Thursday after US-based boutique investment firm GQG Partners along with other investors bought an 8.1 per cent stake in the company for over Rs 9,000 crore (USD 1.1 billion).

The stock gained 2.58 per cent to settle at Rs 286.50 on the BSE. During the day, it climbed 3.27 per cent to Rs 288.45.

At the NSE, it climbed 2 per cent to end at Rs 285.55 apiece.

Majority of the group companies also ended in the green. Adani Ports jumped 4.47 per cent, Ambuja Cements climbed 1.91 per cent, Adani Enterprises gained 1.45 per cent, NDTV (1.26 per cent), ACC (0.64 per cent) and Adani Transmission (0.42 per cent).

GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore.

GQG Partners and other investors bought 31.2 crore shares of Adani Power in a block deal — one of the largest ever secondary market equity transactions — stock market data showed.

Adani Power is the fourth firm of the ports-to-energy conglomerate where GQG has invested since May.

Promoter Adani family, which held 74.97 per cent in the firm, sold 31.2 crore or an 8.1 per cent stake at an average price of Rs 279.17 per share.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)