Adani Transmission surges 7%; acquires Reliance Infra Mumbai power business

Adani Transmission Ltd stock was higher by 7% at Rs. 242. The company has acquired R-Infra’s Mumbai generation, transmission and distribution business, which caters to 3mn customers.

The acquisition marks foray into distribution sector in India.

The enterprise value of the transanction is INR 12101 crore.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.