Adani Power shares climbed 14.6 per cent in the last one month and 56 per cent in the last six months. Adani Power recently reported a multi-fold jump in its September quarter profit on strong jump in sales.
Ardour Investment Holding and Emerging Market Investment DMCC, who are part of the promoter group entities, acquired 7.92 crore shares or 2.06% stake in Adani Power between September 26 and November 16. In the early part of September, promoter entities Fortitude Trade and Investment Ltd and Emerging Market Investment DMCC had acquired 8.5 crore shares or 2.2% stake in Adani Power, which had taken the cumulative holding of the promoter group to 69.09%.
Two entities, Fortitude Trade and Investment Ltd and Emerging Market Investment Ltd, both part of the promoter group in Adani Power, have acquired a 2.2% stake in the company through open market purchases. Fortitude Trade and Investment bought 6,58,47,000 shares, representing a 1.71% stake, between September 5-21, while Emerging Market Investment acquired 1,92,00,000 shares, representing a 0.5% stake, between September 21-25.