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Shares of Lanco Infratech were up nearly 6% at Rs 5.60 after the company announced sale of its Udupi power plant to Adani Power.
The sale of the unit was part of Lanco Infratech's strategy to reduce its debt. The Udupi power plant located at Udupi district in the state of Karnataka has two 600Mw imported coal based power units.
Post the sale of the Udupi power plant, the company has realised enterprise value of around Rs 6,300 crore.
The stock opened at Rs 5.60 and hit a high of Rs 5.85. At 11:55AM, over 4.7 million shares were traded on both the stock exchanges.
