Adani Transmission incorporates subsidiary for smart metering business, shares rise 1.6%

Adani Transmission's stock rose 1.6% on Wednesday after announcing the incorporation of its wholly-owned subsidiary BEST Smart Metering.

Adani Transmission acquired 10,000 equity shares worth Rs 10 apiece valued at an aggregate amount of Rs 1 lakh from BEST Smart Metering Ltd.

BSML is incorporated in Ahmedabad, Gujarat and is yet to commence its business operations. 

At 1440 hours on Wednesday, the company's shares were trading 1.6% higher at Rs 2,543.05.