Tata Power plans to acquire InterGen; stock slips
Shares of Tata Power were down on profit booking even as the company plans to acquire stake in power utility company.
By ET Bureau |
MUMBAI: Shares of Tata Power were down on profit booking even as the company plans to acquire stake in power utility company.
According to reports, Tata Power is negotiating to acquire 50% stake in InterGen NV from GMR Infrastructure. The deal is likely to be announced in next two month. At least four companies are in race to acquire stake in InterGen NV.
At 11:18 am, the stock was at Rs 1244.90, down Rs 26.45 or 2.08 per cent on the NSE. It touched a high of Rs 1279.90 and low of Rs 1241 in trade so far. Around 1.33 lakh shares were traded in the counter.
According to reports, Tata Power is negotiating to acquire 50% stake in InterGen NV from GMR Infrastructure. The deal is likely to be announced in next two month. At least four companies are in race to acquire stake in InterGen NV.
At 11:18 am, the stock was at Rs 1244.90, down Rs 26.45 or 2.08 per cent on the NSE. It touched a high of Rs 1279.90 and low of Rs 1241 in trade so far. Around 1.33 lakh shares were traded in the counter.
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