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Legal▲ Bullish for Adani Power
Adani Power share price jumps after receipt of NCLT nod for merger of 10 wholly owned subsidiaries
The brief
- NCLT Mumbai Bench approved Adani Power’s merger of 10 wholly owned subsidiaries
- Simpler group structure may benefit Adani Power shareholders
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| ADANIPOWER | Fri, 25 Sept | +1.6% | +1.3% | 0.8× | +1.6% · Nifty +0.3% |
✓ Classifier read this as positive; ADANIPOWER rose 1.3% against the Nifty on the day it traded.
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Adani Power's merger of 10 subsidiaries
The Mumbai Bench of the NCLT approved Adani Power's plan to merge 10 wholly owned subsidiaries. The company later completed the merger following approvals from two authorities.
Friday, 25 September
- Adani Power share price jumps after receipt of NCLT nod for merger of 10 wholly owned subsidiaries