Adani Green surges 10% in 2 days on report it may acquire SB Energy

According to a Bloomberg report, the deal could value SB Energy, owned by SoftBank Group Corp. and Bharti Enterprises Ltd., at more than $650 million

Shares of Adani Green Energy were locked in the 5 per cent upper circuit band for the second straight day, at Rs 1,199.65 on the BSE on Tuesday, after a Bloomberg report suggested that the Adani Group Company is in advanced talks to acquire privately-held SB Energy Holdings Ltd.

Trading volumes on the counter nearly doubled, with a combined 708,026 equity shares having changed hands on the NSE and BSE till the time of writing of this report. There were pending buy orders for around 125,000 shares on both the exchanges, data shows.

Despite two consecutive days of