Adani Transmission is trading 5% up at Rs 71.65, slightly off a 52-week high of Rs 72.50 it touched earlier in the session, riding on an announcement from the company that it has received three letters of intent (LOI) for three transmission projects in Rajasthan.
Adani Transmission, among the largest private power transmission companies in the country, said that with these, the company's transmission network will surpass 11,000 ckt kms.
The company said that the LOIs from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam Limited) are to construct, own, operate and maintain three transmission projects in the state of Rajasthan.
With these Projects, Adani Transmission will strengthen its existent significant presence in Rajasthan with 2 operational transmission projects and Suratgarh Bikaner project, which is under construction.
The company currently owns, operate and maintains around 5500 Ckt Kms of transmission lines ranging from 400 KV to 765 KV, with a total transformation capacity of approximately 14,000 MVA. With completion of all ongoing projects and acquisition of Reliance Infra’s Operational Transmission Assets along with these three new projects, Adani Transmission's network will surpass 11,000 ckt kms.
