Shares of Adani Power, led by Gautam Adani, fell by 2.72 percent to Rs 676 during intra-day deals. The drop comes amid reports that the company’s promoters may offload a 5% stake via a block deal, though Adani Group has not confirmed the news.
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Adani Power shares were trading at Rs 680.45, down 2.09% from their previous close of Rs 694.95 on the BSE. The stock is currently 24% lower than its 52-week high of Rs 896.75 on June 3, 2024. Around 1.03 lakh equity shares worth nearly Rs 7.11 crore have been exchanged on the BSE today.
Tata Power shares began the session at Rs 692.05 and have since traded in the range of Rs 697.95-676 on the BSE.
Adani Power, India’s largest private thermal power producer, operates nine power plants across Gujarat, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, Madhya Pradesh, and Jharkhand, with an installed capacity of 15,250 MW.
Adani Power, a power generation company, has a market capitalization of Rs 2,62,869.67 crore as of August 22 and is a member of the BSE 200 index.
BSE analytics show Adani Power shares have risen by 29.63% YoY, surpassing the BSE Sensex’s 12.12% increase in the same period.
As of August 22, 2024, Adani Power’s shares are listed on the BSE with a 52-week range of Rs 896.75-289.30.
BSE analytics shows Adani Power shares have seen a 21.59% return in the last six months, 96.01% in the last year, and 1,095.70% in the last five years.
