Tulsian told CNBC-TV18, "If one see Adani Enterprise, this is the flagship company in fact for last - or maybe since yesterday it has been giving indication that probably it has bottomed out and if you see Adani Power has really moved by about 14-15% because the promoters have been wanting to cancel the Power Purchase Agreement, which they have entered with a State Electricity Boards and all that on a longer period of 25 years."
He further added, "If something positive if have come out in favor of the Adani Power probably that is getting reflected into the share price of Adani Enterprise also because if you see the valuation of Adani Enterprise, it is purely deriving the value of the investments it is holding in Adani Power as well in Mundra Port, which is to the extent of 75% plus, apart from that it has not been getting any valuations. Technically also Adani Enterprise was seen hugely oversold in F&O, so probably the combination, combined effect of these two things on Adani Enterprise, but on Adani Power, I will just be closely tracking this news of cancelation of their long-term power supply agreement with the State Electricity Board for 25 years at a rate of Rs 270-275 per unit."
