Government company BHEL has received an order of Rs 3,500 crore from Adani Power Limited to set up a thermal power plant in Raipur, Chhattisgarh. BHEL said in a notice to the stock exchange, “The company has signed a contract agreement on June 5, which includes the supply of equipment (boiler, turbine, generator) and supervision of installation and operation for two power projects of 800-800 MW based on critical technology.” The company said that the order is more than Rs 3,500 crore. Goods and Services Tax (GST) will be levied separately on this. BHEL said that boilers and turbine generators will be manufactured in its factories located in Trichy and Haridwar.
Mirzapur Thermal Energy becomes a unit of Adani Power
Adani Power, an Adani Group company, on Wednesday said Mirzapur Thermal Energy UP Private Limited has become its subsidiary after it was allotted 99.8 per cent of its equity. “The company has been allotted 50,00,000 equity shares of Rs 10 each on preferential basis by Mirzapur Thermal Energy U.P. Private Limited (MTEUPL), thereby holding 99.8 per cent equity stake in MTEUPL. As a result, MTEUPL has become a subsidiary of the company,” the company said in a filing to BSE.
Commercial activities not started
MTEUPL has not yet started commercial activities and will continue to be involved in infrastructure development activities. The entity is an associated party of Adani Power. Before the equity shares of MTEUPL were allotted to the Company, MTEUPL was a wholly owned subsidiary of Adani Infra (India) Limited (AIIL).
Huge jump in Adani Group shares
Shares of Adani Group’s portfolio of companies surged on Wednesday. This was led by Adani Green Energy and Adani Ports. The stock market jumped on Wednesday after Tuesday’s decline. Nine of Adani’s 10 listed companies registered gains, with Adani Green Energy topping the list with 11.01 per cent and Adani Ports and Special Economic Zone at 8.59 per cent. Ambuja Cements rose 7.47 per cent and flagship Adani Enterprises rose 6.02 per cent. On the other hand, ACC shares rose 5.20 per cent, NDTV 3.26 per cent and Adani Total Gas 2.67 per cent. Adani Wilmar shares rose 0.77 per cent and Adani Power 0.32 per cent.
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