Adani Power shares gain nearly 5% as power generation capacity increases

MUMBAI: Shares of Adani Power today rose by nearly 5 per cent after the company said its overall generation capacity increased to 8,620 MW, making it the country's "largest private power producer".

The company's scrip settled at Rs 54.05, up 4.65 per cent on the BSE. In intra-day, the stock surged 7.26 per cent to Rs 55.40.

At the NSE, Adani Power's scrip ended 4.55 per cent higher at Rs 54.05.

On the volume front, 26.42 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE.

The leading utility recently commissioned the fourth unit, having 660 MW capacity, at its Tiroda plant in Maharashtra.

"This is an important milestone in the history of Indian power generation as Adani Power has added 2,640 MW in the last financial year, accounting for nearly 15 per cent of the overall capacity addition of about 17,000 MW in the country," the company had said yesterday.

Adani Power commissioned two 660 MW units in the first quarter, one 660 MW unit in third quarter and one 660 MW unit in fourth quarter of FY 14 -- two each at Tiroda plant in Maharashtra and at Kawai project in Rajasthan.