Adani Power at new low as expansion plans put on hold

BSE 24 May 12 | 12:00 AM

50.40		0.8 (1.61%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 533096

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NSE 24 May 12 | 12:00 AM

50.45		0.85 (1.71%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: ADANIPOWER

Performance
1 Week	:	Rs	50.50	(-0.20%)
1 Month	:	Rs	66.50	(-24.21%)
1 Year	:	Rs	112.10	(-55.04%)

Adani Power at new low as expansion plans put on hold

SI Reporter / Mumbai 28 Dec 11 | 12:38 PM

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Adani Power has slipped 6% to Rs 63.20, a historic low, after the company said that it was putting capacity expansion projects of 6,500 Mw on hold due to uncertainties on supply of coal.

The Adani Group company had planned power plants at Bhadreshwar and Dahej in Gujarat and Chhindwara in Madhya Pradesh. This massive capacity addition plan involved an investment of Rs 30,000 crore.

“We are not starting physical construction of equipment at the power plants until there is clarity on coal linkages," a report suggests, quoting Ravi Sharma, chief executive officer of the company.

A combined 464,354 shares have changed hands on the counter so far on the NSE and BSE.