 "Adani Transmission hits fresh all-time high; stock surges 30% in a week")
Shares of Adani Transmission hit a fresh all-time high of Rs 341, up 10 per cent on the BSE on Monday in an otherwise range-bound market after the company announced buyback of non-convertible debentures (NCDs) worth Rs 135 crore.
The stock surpassed its previous high of Rs 317, recorded on Friday in intra-day trade. In the past week, the stock has rallied 30 per cent as compared to 0.22 per cent decline in the S&P BSE Sensex.
"Company has bought back 1,350 rated, listed, secured, redeemable, NCDs having face value of Rs 10 lakh each aggregating to Rs 135 crore on November 29, 2019," Adani Transmission said in a regulatory filing on Saturday.
Earlier, on November 25, the company said it had bought back 1,550 rated, listed, secured, redeemable, NCDs having face value of Rs 10 lakh each aggregating to Rs 155 crore.
Adani Transmission delivered strong financial performance in Q2, with operational EBITDA of Rs 1,082 crore, up 63 per cent, and consolidated profit after tax of Rs 230 crore, up 82 per cent year-on-year.
This was driven by robust growth and superlative operational performance. With a growing economy, the demand for power has also increased rapidly over the years.
The management said toward this effort, the company’s focus in FY19-20 has been in expanding grid network and investing in technological advancements that will supply power to deficit parts of the country. The company’s recent acquisitions will make it the country’s largest private sector transmission company in India, it added.
At 11:37 am, the stock was up 8 per cent at Rs 336, as compared to 0.25 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly four-fold with a combined 1.7 million equity shares changing hands on the NSE and BSE so far.
The stock surpassed its previous high of Rs 317, recorded on Friday in intra-day trade. In the past week, the stock has rallied 30 per cent as compared to 0.22 per cent decline in the S&P BSE Sensex.
"Company has bought back 1,350 rated, listed, secured, redeemable, NCDs having face value of Rs 10 lakh each aggregating to Rs 135 crore on November 29, 2019," Adani Transmission said in a regulatory filing on Saturday.
Earlier, on November 25, the company said it had bought back 1,550 rated, listed, secured, redeemable, NCDs having face value of Rs 10 lakh each aggregating to Rs 155 crore.
Adani Transmission delivered strong financial performance in Q2, with operational EBITDA of Rs 1,082 crore, up 63 per cent, and consolidated profit after tax of Rs 230 crore, up 82 per cent year-on-year.
This was driven by robust growth and superlative operational performance. With a growing economy, the demand for power has also increased rapidly over the years.
The management said toward this effort, the company’s focus in FY19-20 has been in expanding grid network and investing in technological advancements that will supply power to deficit parts of the country. The company’s recent acquisitions will make it the country’s largest private sector transmission company in India, it added.
At 11:37 am, the stock was up 8 per cent at Rs 336, as compared to 0.25 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly four-fold with a combined 1.7 million equity shares changing hands on the NSE and BSE so far.
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