Kiran Jani, Head of Technical Research at Jainam Broking, on Friday selected shares of two power distribution companies as his preferred picks from the mentioned space. "From this sector, we like Tata Pwer Company Ltd and Adani Power," Jani told Business Today TV.
Shares of Adani Power Ltd fell after five sessions on Friday amid weakness in the benchmark indices. The Adani Group stock fell up to 3.73% to Rs 618.15 against the previous close of Rs 642.15.
Adani Power shares hit a 5 per cent upper circuit limit at Rs 560.35 on BSE. The Adani group firm commanded a market capitalisation of 2,16,123.57 crore.
Adani Power said that one unit of 600 MW capacity of arm Mahan Energen, Mahan thermal power plant, out of its aggregate operating and upcoming capacity of 2800 MW, will be designated as the captive unit for this purpose.