The stock was trading close to its all-time high level of Rs 252 touched on January 18, 2018, on the BSE in intra-day trade.
MSCI, which maintains and calculates indices, have added 13 and removed 37 stocks from its MSCI Global Small Cap index. The changes in constituents will take place as of the close of November 30, 2018, the MSCI said in its semi-annual index review on November 13.
With reference to a significant movement in price, Adani Transmission said on Thursday, November 22, that movement in the share price of the company is purely market driven.
In past one month, the stock of Adani Group Company has rallied 62% as compared to a 6.6% rise in the S&P BSE Sensex. Adani Transmission is the largest power transmission company in the private sector in India.
On November 3, Adani Transmission announced that it has signed an agreement to buy the entire stake in KEC International’s Rajasthan-based power transmission arm at an enterprise value of Rs 2.28 billion.
“This is acquisition is in sync with the company’s strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities. By the end of FY 2019, the company will have 35 substations with approx. 19,300 MVA of transformation capacity across the country. With this scale of operations, the company will enjoy substantial benefits in terms of cost optimization, shared resources and will fortify its position of being the largest private sector transmission company in the Country,” Adani Transmission said in a press release.