The North News
Chandigarh, July 8
Adani Power shares rose on July 8 after the company completed the ₹4,000 crore acquisition and resolution plan of Vidarbha Industries Power Ltd. (VIPL), a 2×300 MW coal-fired plant in Butibori, Nagpur. Approved by the Mumbai NCLT on June 18, the plan was implemented on July 7, boosting Adani Power’s stock by nearly 3% to ₹615 on the NSE before settling at ₹604.9, up 1.3%. The stock has now gained for two consecutive days.
With this acquisition, Adani Power’s operational capacity reaches 18,150 MW, reinforcing its position as India’s largest private base load power producer. The company is also building six 1,600 MW brownfield ultra-supercritical plants across multiple states and a greenfield project in Uttar Pradesh, aiming for a total capacity of 30,670 MW by 2030. CEO SB Khyalia reaffirmed Adani’s commitment to “Electricity for All,” while Jefferies maintained a ‘Buy’ rating with a price target of ₹690, citing strong capacity growth and improved financials.
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