Adani Power shares rise
Today is seen in the stock market. Dalal Street started today with green mark and that greenery is still intact. There is still 2 hours left in the first business day of the week. The main index Sensex of the market at 1 to 18 minutes in the afternoon is at 81,121.50 at 81,121.50. Meanwhile, after the deal from Bhutan in the market rally, the shares of Gautam Adani’s company Adani Power are also seeing a jump.
The company of Adani has recently done a deal with Bhutan -based government company Druk Green Power Corporation, due to which the shares of the company have run away up to 5 per cent today. By the time the news is written, Adani Power shares are trading at Rs 636.70 with a rise of 4.43 per cent.
What is the deal
Gautam Adani has signed a shareholder agreement for the 570 MW Wangchhu Hydropower Project in Bhutan. In this project, Adani will spend a total of Rs 6,000 crore. Along with this, the convention agreement for this project has also been signed with the Royal Government of Bhutan. All these agreement were signed in the presence of Bhutan’s PM Dasho Shering Tobge and Adani Group Chairman Gautam Adani.
On the deal, the PM of Bhutan said that Bhutan and India have been working together in hydropower projects since 1960, which has benefited both countries. DGPC Managing Director Dasho Chhewang Rinjin said that Bhutan wants to create an additional capacity of 15,000 MW hydropower and 5,000 MW solar power by 2040.
With the technical and financial strength of Adani Group, these projects will be completed quickly and will become an example for future projects. There is a plan to develop 5,000 MW hydropower projects in Bhutan under the agreement between Adani Group and DGPC in May 2025. Now both sides are discussing the next projects.