Shares of Adani Energy Solutions settled at Rs 809 on Friday, down 3 per cent. The stock has fallen 78 per cent from its 52-week high of Rs 3,755.25 hit in September 2022.
Shares of Adani Energy Solutions settled at Rs 809 on Friday, down 3 per cent. The stock has fallen 78 per cent from its 52-week high of Rs 3,755.25 hit in September 2022.Shares of Adani Energy Solutions (erstwhile Adani Transmission) will be in focus on Tuesday morning after the company commissioned the Khargar-Vikhroli transmission line, making Mumbai a 400 KV national grid integrated. The company informed exchanges about the same on Monday. Kharghar Vikhroli Transmission Limited (KVTL) will enable additional power to be brought into Mumbai and, thus, help meeting the city’s growing and future electricity demand. "The project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry further power into the city," it said. Adani Energy Solutions (AES) is the energy solution, transmission and distribution arm of the Gautam Adani-led Adani Group. The company is the country’s largest private transmission player with a cumulative network of 18,875 circuit kilometres, of which 14,279 ckm are operational and 4,596 ckm are in various stages of construction. KVTL comprises approximately 74 circuit kilometres of 400 kV and 220 kV transmission lines, along with a 1,500 MVA 400kV Gas Insulated Substation (GIS) at Vikhroli, the first 400KV substation of its kind in Mumbai which has an area of about 9,500 square meters, the filing added. The project includes six towers on creeks and special horizontal towers in urban areas, which will provide much-needed redundancy and stability to power supply , Adani Energy said. The line languished for more than a decade and was awarded to Adani in 2021 through bidding. Shares of Adani Energy Solutions settled at Rs 809 on Friday, down 3 per cent. It commanded a total market capitalisation of more than Rs 90,000 crore. The stock has fallen 78 per cent from its 52-week high of Rs 3,755.25 hit in September 2022. It had slipped to Rs 630 level following the US-based short seller Hindenburg Research’s scathing report on the Adani group.
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