Adani Energy Solutions shares rose 3.3 per cent in trade on BSE, logging an intraday high at ₹842.45 per share. The northward movement in the stock came after the company won an order worth ₹2,800 crore in Gujarat.
Around 12:22 AM, Adani Energy Solutions share price was up 2.74 per cent at ₹837.6 per share on BSE. In comparison, the BSE Sensex was up 0.77 per cent at 76,934.47. The market capitalisation of the company stood at ₹1,00,619.43 crore. The 52-week high of the stock was at ₹1,347.9 per share and the 52-week low was at ₹588.25 per share.
"Adani Energy Solutions Ltd, India’s largest private transmission and distribution company and part of the globally diversified Adani portfolio, today said it has won a power transmission project in Gujarat, which will supply green electrons for manufacturing Green Hydrogen and Green Ammonia in Mundra, Gujarat. The project which will cost ₹2,800 crore," the filing read.
Under the contract, Adani Energy will upgrade the Navinal (Mundra) electrical substation by adding two large 765/400kV transformers. Additionally, a 75 km long 765kV double-circuit line will be constructed to connect this substation to the Bhuj substation.
The project will see the addition of 150 cKM of transmission lines and 3,000 MVA of transformation capacity to AESL’s overall transmission infrastructure, taking them to 25,928 cKM and 87,186 MVA, respectively. The project has to be delivered within 36 months.