BSE Sensex was down 16.56 points, or 0.05% to 31,610.07.
On the BSE, 1.05 lakh shares were traded in the counter so far, compared with the average daily volume of 1.52 lakh shares in the past one-quarter. The stock had hit a high of Rs 135.15 and a low of Rs 129.90 so far during the day.
According to reports, a domestic brokerage has initiated coverage on shares of Adani Transmission with a 'buy' rating and net present value (NPV)-based target price of Rs 154, citing likely strong growth ahead. The brokerage expects Adani Transmission to generate robust free cash flow, though it does anticipate high growth and M&A (merger and acquisition) appetite.
Shares of Adani Transmission fell 7.35% in three trading sessions to settle at Rs 127.35 yesterday, 25 September 2017, from its close of Rs 137.45 on 20 September 2017.
On a consolidated basis, net profit of Adani Transmission declined 31.46% to Rs 84.10 crore on 3.59% decline in net sales to Rs 609.32 crore in Q1 June 2017 over Q1 June 2016.
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