Torrent Power sizzles on emerging highest bidder for Dadra Nagar Haveli, Daman & Diu discom
Torrent Power jumped 5.08% to Rs 383.35 after the company emerged as the highest bidder for acquisition of 51% stake in the power distribution company in the Union Territory of Dadra & Nagar Haveli and Daman & Diu.
The acquisition is subject to further formalities as prescribed under the tender documents. The bidding for the distribution business of the Union Territory has been undertaken as part of the Government of India’s initiative to privatize distribution utilities of Union Territories to usher in efficiency, which will provide a model for emulation by other utilities across the country.
