Adani Transmission rallies for 12th straight day; stock zooms 67%

October 12
22:25 2017
Adani Transmission is locked in upper circuit of 5% at Rs 213, extending its 15% gain of the last two trading sessions on the BSE, after the company said Reliance Infrastructure (RInfra) entered into exclusive talks with the company for selling its Mumbai power business.

The stock of electric utilities company was trading at its record high price, gaining for the 12th straight trading session. Since September 26, it appreciated by 67% from Rs 127, as compared to 1% gain in the benchmark S&P BSE Sensex.

The BSE and NSE with effect from today, October 12, 2017, revised price band of the stock to 5% from 10%. Till 01:41 PM; a combined 2.1 million shares changed hands and there were pending buy orders for 352,067 shares on both the exchanges.

RInfra said in a BSE filing on Tuesday, October 10, 2017 that the company has entered into a period of exclusivity until January 15, 2018 in relation to discussions for the proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai city to Adani Transmission.

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