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Adani Power gets Competition Commission of India nod to buy power plant;stock gains [Jerusalem Post (Israel)]
[October 31, 2014]

Adani Power gets Competition Commission of India nod to buy power plant;stock gains [Jerusalem Post (Israel)]


(Jerusalem Post (Israel) Via Acquire Media NewsEdge) Shares of of Adani PowerBSE 4.15 % gained momentum in trade after the Competition Commission of India (CCI) allowed it to buy Lanco Infratech's 1,200-MW imported coal-fired power plant at Udupi in Karnataka for more than Rs 6,000 crore.



It will be the biggest acquisition in India's thermal power industry.

Post the combination, the combined market share of Adani, both in terms of installed capacity and electricity generation, would not be significant enough to raise any competition concern. The proposed combination is not likely to have any appreciable adverse effect on competition in India, the CCI observed while clearing the deal.


At 09:16 a.m.; the stock was at Rs 46.70, up 2.08 per cent, on the BSE. It touched a high of Rs 47 and a low of Rs 46.45 in early trade.

All rights reserved (c) 2014 The Jerusalem Post Provided by SyndiGate Media Inc. (Syndigate.info).

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