Adani Power share price jumps 5% after THIS development in Bhutan. Do you own?
Adani Power share price surged as much as 5 per cent to ₹638.90 apiece in Monday’s trading session after the company announced it has signed a shareholders agreement with Bhutan’s Druk Green Power.
Adani Power shares have given significant returns in the last one year. The Adani Group stock has gained 10 per cent in a month and 27 per cent in six months.
Adani Group agreement with Bhutan’s Druk Green Power
In an exchange filing dated June 6, Adani Power said it has signed a shareholders’ agreement with Bhutan’s state-owned utility, Druk Green Power Corp, for setting up a 570 MW hydroelectric project at Wangchhu in Bhutan.
Both companies will jointly incorporate a public company with 49:51 shareholding in Bhutan to undertake the project.
