Adani Transmission clarifies rumour; stock gains above 4 per cent

Adani Transmission has responded to the clarification demanded by the exchanges regarding a news item in a recent media report stating that Maharashtra Electricity Regulatory Commission (MERC) had granted a licence to Adani Transmission for 1,000 MW transmission link.  

In its response, Adani Transmission has mentioned that MERC has issued a statutory licence for building an HVDC link between the outskirts of Mumbai to Mumbai. Additionally mentioning, the project’s licence for execution in the next 48 months has currently been approved for Adani Electricity Mumbai Infra Limited. The licence is for the construction of a 1000 megawatt high-voltage direct current transmission link from Kudus to Aarey (Maharashtra). It is of an approximate length of 80 kilometres.  

In its defence, the company added that the said licence was loaded on the website of MERC and recently downloaded by the company officials.  

Adani Transmission Limited operates as a power transmission company and is engaged in transmission of electric energy & trading of castor oil.  

On Friday, the shares of Adani Transmission were trading at Rs 868.35 per share, up by 4.17 per cent or Rs 34.80 per share. The 52-week high is Rs 890 while its 52-week low is Rs 167.20 on BSE.