{"id":121458,"date":"2024-03-28T14:40:46","date_gmt":"2024-03-28T09:10:46","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=121458"},"modified":"2024-03-28T15:12:32","modified_gmt":"2024-03-28T09:42:32","slug":"adani-group-stock-jumps-after-it-signs-an-mou-with-reliance-industries-for-20-years","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/adani-group-stock-jumps-after-it-signs-an-mou-with-reliance-industries-for-20-years\/","title":{"rendered":"Adani group stock jumps after it signs an MoU with Reliance Industries for 20 years\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1729240402\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of India\u2019s largest private thermal power producer firm gained 2 percent to \u20b9 527 per share after the company signed an investment agreement with Reliance Industries for a 500 MW power purchase agreement.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2141533989\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 12:25 p.m., Adani Power Ltd. shares were trading at \u20b9524.95 per share, up \u20b98.40 or 1.63 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of \u20b9 2,01,853 crore.&nbsp;<\/p><p>Mahan Energen Limited (&#8220;MEL&#8221;), a wholly-owned subsidiary of Adani Power Limited, has signed a 20-year Power Purchase Agreement (PPA) for 500 MW with Reliance Industries Limited under the Captive User policy outlined in the Electricity Rules of 2005.&nbsp;<\/p><p>Within MEL&#8217;s Mahan thermal power plant, one unit with a capacity of 600 MW, from its total capacity of 2800 MW (including operational and upcoming capacities), will be designated as the Captive Unit for this agreement.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1763626508\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Under this policy, Reliance Industries Limited (RIL) must hold a 26 percent ownership stake in the Captive Unit, corresponding to the power plant&#8217;s total capacity. To meet this requirement, RIL will invest in 5,00,00,000 equity shares of MEL, totaling \u20b9 50 crore for the proportional ownership stake.&nbsp;<\/p><p>This development marks an exclusive agreement between two corporate entities, enabling Reliance Industries to purchase 500 MW of power on a long-term basis.&nbsp;<\/p><p>Adani Power Ltd. is a thermal power producer in India with a significant power generation capacity of approximately 12,450 MW across various operational power plants in states like Gujarat, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, Madhya Pradesh, and Jharkhand.&nbsp;<\/p><p>Adani Power shares have gained 40 percent in the last six months and 201 percent in a year.&nbsp;<\/p><p>Yearly, the company&#8217;s revenue surged by 67 percent, climbing from \u20b97,764 crore in Q3FY23 to \u20b912,991 crore in Q3FY24. Concurrently, net profit skyrocketed by 30322 percent, soaring from \u20b99 crore to \u20b92,738 crore within the same timeframe.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\">Disclaimer<\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-3728819812\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3607895240\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of India\u2019s largest private thermal power producer firm gained 2 percent to \u20b9 527 per share after the company signed an investment agreement with Reliance Industries for a 500 MW power purchase agreement.&nbsp; At 12:25 p.m., Adani Power Ltd. shares were trading at \u20b9524.95 per share, up \u20b98.40 or 1.63 percent from the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-121458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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