The apex court upheld an APTEL order allowing Adani to recover the higher cost of imported coal from Rajasthan discoms. The compensatory tariff will be calculated from 2013.
Adani Power share price gained more than 3 percent in the morning trade on Septemeber 1 after the Supreme Court allowed the company to recover compensatory tariff from Rajasthan discoms, CNBC-TV18 reported.
The apex court upheld an APTEL order allowing Adani to recover from Rajasthan discoms the higher cost of imported coal . The compensatory tariff will be calculated from 2013.
The top court also directed payment of carrying costs by Rajasthan discoms and refused to entertain allegations of over-invoicing of imported coal against Adani Power.
In some relief for the discoms, the court reduced the interest rate payable to prime lending rate, not exceeding 9 percent per annum.
The stock was trading at Rs 38.45, up Rs 1.15, or 3.08 percent. It has touched an intraday high of Rs 39.40 and an intraday low of Rs 38.
APTEL had directed for compensatory tariff and carrying cost since 2013 to be paid within two months of judgment.