Adani Green Energy Ltd has added 19.24% over last one month compared to 17% gain in S&P BSE Power index and 4.45% rise in the SENSEX
Adani Green Energy Ltd gained 5% today to trade at Rs 1258.85. The S&P BSE Power index is up 1.24% to quote at 2785.76. The index is up 17 % over last one month. Among the other constituents of the index, Adani Power Ltd increased 2.9% and Adani Transmission Ltd added 2.02% on the day. The S&P BSE Power index went up 94.72 % over last one year compared to the 65.85% surge in benchmark SENSEX.
Adani Green Energy Ltd has added 19.24% over last one month compared to 17% gain in S&P BSE Power index and 4.45% rise in the SENSEX. On the BSE, 58315 shares were traded in the counter so far compared with average daily volumes of 55349 shares in the past one month. The stock hit a record high of Rs 1341.6 on 24 Mar 2021. The stock hit a 52-week low of Rs 219 on 18 May 2020.
Adani Green Energy today signed share purchase agreements for the acquisition of 100% interest in SB Energy India from SBG (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The transaction values SB Energy India at an enterprise valuation of approximately USD 3.5 billion.
The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW).
The portfolio comprises of 1,400 MW operational solar power capacity and a further 3,554 MW is under construction. All projects have 25 year PPAs with sovereign rated counterparties such as Solar Energy Corporation of India Ltd. (SECI), NTPC and NHPC. The operating assets forming part of the portfolio are primarily solar park based projects and have been built following best in class governan
Hester Biosciences jumped 14.1% to Rs 2820 after the company announced that it has tied up with the Government of Gujarat and with Omnibrx for manufacturing COVID vaccine.A triparty consortium has been formed between Hester Biosciences, Gujarat Biotechnology Research Centre, Department of Science & Technology, Government of Gujarat and Omnibrx to explore the prospects of manufacturing the Covid vaccine through technology from Bharat Biotech.
Government of Gujarat is the lead partner in the triparty consortium. The discussions are currently on-going with Bharat Biotech towards reviewing the infrastructure at Hester, the technology adaption process and the regulatory compliances. Based on the outcome of the review, the next course of action will be determined.
Cadila Healthcare rose 2.60% to Rs 646.10 after the company s subsidiary announced plans to sell its India focused animal health business to Multiples Alternate Asset Management led consortium.
Zydus Animal Health and Investments (ZAHL), a wholly owned material subsidiary of Cadila Healthcare, has entered into a business transfer agreement (BTA) and other ancillary agreements to sell and transfer its Animal Healthcare Established Markets Undertaking (Zydus AH) to Multiples Alternate Asset Management led consortium.
The deal is to sell one of the two business undertakings of ZAHL, called Animal Healthcare Established Markets Undertaking on a slump sale basis as a going concern, for a lump sum consideration of Rs 2,921 crore on a cash free and debt free basis, subject to certain closing date adjustments and other conditions.
Cadila Healthcare as a joint venture partner, has signed an agreement to extend the tenure of the joint venture agreement (JVA) with Bayer (South East Asia), one of the companies of the Bayer Group, for a further period of two months to explore the possibilities of further collaboration.
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