Adani Power share price experienced a significant rise during morning trading. Opening at ₹749.90 per share on NSE, it quickly reached an intraday high of ₹790, marking an increase of nearly 9% from Wednesday’s close of ₹726.65. This surge is attributed to the company’s complete takeover of Mirzapur Thermal Energy (MTE) in Uttar Pradesh.
In a recent exchange filing, Adani Power announced, “We have been allotted 50,00,000 equity shares of ₹10 each by Mirzapur Thermal Energy U.P. Private Limited (MTEUPL) on a preferential basis, resulting in a 99.8% equity stake. Consequently, MTEUPL has become a subsidiary of Adani Power.”
Disclaimer: Investors should consult certified experts before making any investment decisions.
