10:39 am - Saturday November 7, 2015

Adani Power gains after becoming India’s largest private power producer

184 Viewed Alka Anand Singh Comments Off on Adani Power gains after becoming India’s largest private power producer

Adani Power rose 2.81% to Rs 53.10 at 10:34 IST on BSE after the company said it has become the largest private power producer in India.

The company made the announcement after market hours on Thursday, 3 April 2014.

Meanwhile, the BSE Sensex was down 122.10 points, or 0.54%, to 22,386.97.

On BSE, so far 8.61 lakh shares were traded in the counter, compared with an average volume of 6.87 lakh shares in the past one quarter.

The stock hit a high of Rs 53.50 and a low of Rs 52.20 so far during the day. The stock hit a 52-week high of Rs 62.40 on 21 May 2013. The stock hit a 52-week low of Rs 29.45 on 5 August 2013.

The stock had outperformed the market over the past one month till 2 April 2014, rising 39.69% compared with the Sensex’s 6.78% rise. The scrip had also outperformed the market in past one quarter, rising 34.99% as against Sensex’s 7.96% rise.

The large-cap company has an equity capital of Rs 2871.92 crore. Face value per share is Rs 10.

Adani Power, a subsidiary of Adani Enterprises and part of the Adani Group, a global integrated infrastructure player, announced the commissioning of the fourth unit of 660 megawatts (MW) at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India with an overall installed capacity of 8,620 MW.

This is an important milestone in the history of Indian power generation as Adani Power has added 2,640 MW in the last financial year, accounting for nearly 15% of the overall capacity addition of about 17,000 MW in the country. The company has commissioned two 660 MW units in the first quarter, one 660 MW unit in third quarter and one 660 MW unit in fourth quarter of the fiscal year ended March 2014 (FY14), two each at Tiroda in Maharashtra and at Kawai in Rajasthan, the company said in a statement.

“It is a proud event and a momentous occasion for everyone at Adani Power, as we are now the largest private power producer in India. This achievement is a testimony to our efforts in increasing electricity generation in the country, and only reflects our commitment towards nation building. It is a significant milestone in the path to achieve Adani Power’s target of generating 20,000 MW by 2020,” said Mr. Gautam Adani, Chairman, Adani Group.

“The company’s project management team has acquired and assimilated expertise that enables speedy and reliable execution of large power generation projects. This has allowed us to add capacity at the given pace, and address the nation’s electricity demand,” said Mr. Vneet Jaain, CEO, Adani Power.

Post commissioning of Unit 4 at Adani Power’s Tiroda power plant in Maharashtra, the company added 660 MW to its existing installed thermal capacity of 7920 MW. Apart from this, the Adani Group has also installed a 40 MW Solar power plant in Kutch district, Gujarat, taking the overall installed capacity to 8,620 MW – the highest amongst private sector producers, across all fuels, the company said.

Adani Power reported a consolidated net loss of Rs 545 crore in Q3 December 2013, lower than net loss of Rs 619.01 crore in Q3 December 2012. Total income rose 120% to Rs 4240 crore in Q3 December 2013 over Q3 December 2012.

Adani Power is the largest private thermal power producer in India. It is currently developing six power projects across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh.

Click here to submit your review.

Submit your review
* Required Field

Don't miss the stories followIndiaVision News and Information and let's be smart!
0/5 - 0
You need login to vote.
Filed in

The Central Bureau of Investigation (CBI) to examine Ratan Tata, Cyrus Mistry in Radia case


Philips India shrinks ultrasound, ECG machines

Related posts