The BSE said that it has sought clarification from Adani Transmission on August 28, 2018, with reference to an increase in volume. The reply is awaited.
Adani Enterprises (AEL) was up 4% to Rs 221 after the company fixed September 7, 2018, as the record date for determining the entitlement of equity shareholders of AEL for the purpose of allotment of fully paid up equity shares of Re 1 each of Adani Gas.
In January, the Adani Group decided to demerge its gas sourcing and distribution business into a new company called Adani Gas.
After the issuance and allotment of the equity shares by AGL, the AGL will complete the necessary steps to have the equity shares listed on the BSE and National Stock Exchange of India Limited (NSE), it added.
Adani Power too up 4% to Rs 35, bouncing back 8% from its early morning low after the company made the clarification on a media report that its 660 MW Kawai unit shut due to coal shortage.
The Company has a total power generation capacity of 10,480 MW operating through its various subsidiaries. Adani Power Rajasthan Limited, one of the subsidiaries of the Company, which runs the total 1,320 MW capacity Power Plant at Kawai, and is operating based on the Power Purchase Agreement ("PPA"), signed with Rajasthan Discoms and the terms of the said PPA.
“The operations per PPA are governed by various requirements such as 0&M availability, billed availability and required off takes. The availability of coal, of course, plays an important factor. Also, the matter being routine in nature; and the operations scenario changes on day to day basis, this is not material,” Adani Power said in statement.
Adani Green Energy has locked in upper circuit of 5% at Rs 58.50 with only buyers were seen on the counter. A combined around one million shares changed hands and there were pending buy orders for 293,000 shares on both the exchanges.
Adani Ports and Special Economic Zone was however trading almost flat at Rs 378, after hitting a high of Rs 383 in intra-day trade on the BSE.