Adani Power stock drops on report of high tariff charged by company

Maharashtra Power Minister Bawankule said the report will be ready by June 30 and if the tariff is more than what has been fixed by MERC, the excess amount would be adjusted in next bills of customers along with the interest.

Jun 19, 2019 09:06 IST India Infoline News Service

Shares of Adani Power slipped 1% on both the indices on Wednesday’s trade after media report said that Maharashtra Power Minister Chandrashekhar Bawankule is likely to soon get a report on the alleged high tariff of Adani Electricity, supplying power to Mumbai suburbs and that any excess amount charged from consumers will be adjusted in future bills.

Maharashtra Power Minister Bawankule said the report will be ready by June 30 and if the tariff is more than what has been fixed by MERC, the excess amount would be adjusted in next bills of customers along with the interest.

Meanwhile, Adani group shares were trading lower in the last hour of the trading session.

Stock view:

Adani Power Ltd is currently trading at Rs46.80, down by Rs0.05 or 0.11% from its previous closing of Rs46.85 on the BSE.

Adani Enterprises Ltd is currently trading at Rs143, down by Rs4.85 or 3.28% from its previous closing of Rs147.85 on the BSE.

Adani Transmission Ltd is currently trading at Rs211.50, down by Rs14.55 or 6.44% from its previous closing of Rs226.05 on the BSE.

Adani Green Energy Ltd is currently trading at Rs39.85, down by Rs0.95 or 2.33% from its previous closing of Rs40.80 on the BSE.

Adani Gas Ltd is currently trading at Rs161.95, down by Rs3.2 or 1.94% from its previous closing of Rs165.15 on the BSE.

Related Story