proceeds from the stake sale shall be utilised for debt reduction."
Its consolidated net profit after tax was Rs 99.54 crore for the quarter ended on September 30, 2016
The stock up 5% at Rs 213, extending its past two days 15% gain, after the company said RInfra entered into exclusive talks with the company for selling its Mumbai power business.
Shares of Adani Transmission fell 7.35% in three trading sessions to settle at Rs 127.35
For fiscal 2017, the company reported a 13.17% increase in net profit
According to ATL, on completion of this acquisition, its transmission network is set to reach about 10,350 ckt kms
The stock hit a record high of Rs 52.80, up 13% on the BSE in intra-day trade
Now, Adani Transmission's cumulative network will reach 10,900 circuit km, out of which 9,000 circuit km are under operation
Relaince Infra signed a binding term sheet agreement, selling its power transmission assets to ATL for over Rs 2k crore
The total income from operations during the April-June quarter increased to Rs 632.01 crore
The Adani group has been on a buying spree in the power and port sectors
Picks 74% stake in Maru Transmission, 49% in Aravali Transmission for Rs 100 crore
Currently, 74% stake in MTSL and 49% stake in ATSL will be transferred to ATL with an option to acquire the balance stakes in both the projects
The outlook is for its proposed issuance of Indian rupee-denominated senior secured notes