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Last Updated : Mar 08, 2013 02:07 PM IST | Source: Moneycontrol.com

Adani Power rises 5% as Vinod Adani buys 75 lakh shares

Gujarat-based Adani Power rallied more than 5 percent in early trade on Friday as Vinod Adani purchased 75 lakh shares, which are worth Rs 33.75 crore, in the company.

 
 
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Gujarat-based Adani Power rallied more than 5 percent in early trade on Friday as Vinod Adani purchased 75 lakh shares, which are worth Rs 33.75 crore, in the company.


Vinod Adani was named Adani Power's promoter in 2009 and did not hold any shares until now.


Adani Enterprises holds 63.99 percent stake in the company, out of which nearly 24 percent shares have been pledged as of December 31, 2012.

Meanwhile, Ventura Power Investments Private Limited has 2.96 percent stake in Adani Power, which have been completely pledged. Adani Agro holds 1.37 percent stake.
 
At 09:30 hours IST, shares rose 4.44 percent to Rs 50.55 on Bombay Stock Exchange.

First Published on Mar 8, 2013 10:09 am
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