Adani Group issued a clarification stating its group company Adani Energy Solutions, erstwhile Adani Transmission, is not in discussion with Abu Dhabi National Energy Company PJSC ( TAQA) for any investment.
ET in its Friday edition reported TAQA is in discussions with the promoters of the Adani Group to evaluate an investment of $1.5-$2.5 billion in the group’s power transmission and distribution business.
“The company is not engaged in talks with TAQA for their investment in the company,” Adani Energy Solutions said in an exchange notification on Friday.
TAQA told Bloomberg news that there is “no truth” in the news.
Following the report, Adani stocks reacted sharply. Adani Energy Solutions moved 8.72%; while Adani Power moved 12% and Adani Green Energy jumped 10% in intra-day trade.
