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Adani Power upper circuit: Adani Power share price jumps 5% as RIL picks stake in company's MP project
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Adani Power upper circuit: Adani Power share price jumped 5 per cent to hit its upper circuit after Reliance Industries (RIL) picked a stake in the company's MP project. Adani Power share price opened at ₹547.70 against its previous close of ₹533.70 and soon jumped 5 per cent to hit its upper circuit level of ₹560.35 on BSE.
Adani Power share price jumped following its announcement on Mukesh Ambani's Reliance Industries picking up a 26 per cent stake in a Madhya Pradesh power project of Gautam Adani, and signing a pact to use the plants' 500 MW of electricity for captive use. Reliance will pick up five crore equity shares in Mahan Energen, a wholly owned subsidiary of Adani Power, of face value ₹10 at par ( ₹50 crore).
Read more on livemint.comAbout this in other media
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