CESC is trading higher by 4% at Rs 273 after the company said it has acquired India Bulls group outfits engaged in developing two separate hydropower projects in Arunachal Pradesh.
“The company has entered into agreements for taking over from Indiabulls Group two hydro electric power projects of an aggregate capacity of 146 MW in the state of Arunachal Pradesh,” CESC said in a filing to the stock exchanges.
“The company has acquired entire shares of Pachi Hydro Power Projects Limited and Papu Hydropower Projects Limited, for the aforesaid purpose,” it added.
The stock opened at Rs 267 and hit a high of Rs 274 on the National Stock Exchange. A combined 299,824 shares have changed hands on the counter till noon trades on both the exchanges.
