Shares of Adani Power hit seven-month high of Rs 297.10, up 4 per cent on the BSE in Friday’s intra-day trade in an otherwise a subdued market. The stock of Adani Group integrated power utilities company was quoting at its highest level since January 2023. In comparison, the S&P BSE Sensex was down 0.39 per cent at 64,899 at 09:49 am.
In the past two days, the counter has rallied 6 per cent after Australia-listed investment firm, GQG Partners, invested $1.1 billion (Rs 9,000 crore) in Adani Power by buying an 8.1 per cent stake from the Adani family via multiple block deals.
