Lucknow Press
Adani Power stock: Adani Power shares witnessed a big jump on Monday, September 16. The company’s shares rose 7.53 per cent in intra-day trading today to an intraday high of Rs 681.30 per share.
Similarly, shares of Adani Green Energy jumped as much as 7.39 per cent to an intraday high of Rs 1,920 per share.
Because of this there was a jump in Adani Power and Adani Green
This surge in the share prices of Adani Power and Adani Green Energy comes after the latter received Letter of Intent (LoI) from Maharashtra State Discom for supply of 6600 MW hybrid solar and thermal power.
Two Adani Group companies, Adani Green Energy (AGEL) and Adani Power, on Sunday announced that they will sign a power purchase agreement (PPA) of 6.6 gigawatt (GW) with the Maharashtra State Discom (MSEDCL).
What was the deal?
Adani Green Energy will sign a long-term power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply of 5 GW (5,000 MW) of solar energy, the companies said in their announcement.
Further, Adani Power will sign a long-term power supply agreement (PSA) to supply 1496 MW (net) of thermal power to Maharashtra.
At 11:43 am, Adani Power shares were trading 6.24 per cent higher at Rs 673.00, while Adani Green was up 6.36 per cent at Rs 1,901.85 per share. In comparison, the BSE Sensex was trading at 82,918.71 with a marginal gain of 0.03 per cent.
