Adani Transmission jumps 6% on acquisition of Warora-Kurnool Transmission

In the past three months, the stock of Adani Transmission zoomed 113 per cent as against a 5 per cent rise in the S&P BSE Sensex

Shares of Adani Transmission (ATL) hit a new high of Rs 924.40 as they rallied 6 per cent on the BSE in intra-day trade on Tuesday on the acquisition of Warora-Kurnool Transmission Limited (WKTL) from Essel Infraprojects Limited. The company said the acquisition is done at an enterprise valuation of Rs 3,370 crore. The stock of Adani Group electric utilities company surpassed its previous high of Rs 890 touched on March 24, 2021.

As per the agreement, WKTL will develop, operate, and maintain transmission lines aggregating to around 1,750 ckt km. The two significant 765 kV inter-state transmission lines link Warora