DB Corp rises 17% after Adani Power buys assets from group entity

New Delhi: Shares of DB Corp NSE 13.76 % rallied more than 17 per cent to a new 52-week high, during early trade on Monday after Adani Power NSE 3.29 % acquired its group company DB Power.

Gautam Adani-led Adani Power has agreed to buy the thermal power assets of DB Power (DBPL) from Dainik Bhaskar Group for around Rs Rs 7,017 crore enterprise valuation. DB Corp is the flagship company of Dainik Bhaskar Group.