Adani Transmission jumps 4% as firm bags projects worth Rs 1,400 cr
NEW DELHI – Shares of Adani Transmission NSE -1.05 % jumped 4 per cent in early trade on Monday as the Adani Group firm said it has received a Letter of Intent (LoI) for the acquisition of a renewable energy evacuation system under Khavda-Bhuj Transmission Ltd, with an estimated capital expenditure of more than Rs 1,200 crore.
The counter climbed to a high of Rs 1,840 as against the previous close of Rs 1,769.65 on the BSE.
According to a press release, Adani Transmission won the bid to acquire the renewable energy evacuation system through Tariff-Based Competitive Bidding (TBCB). The company is set to build, own, operate and maintain the transmission project in Gujarat for a period of 35 years, the release read.
