Adani Power shares gain 7% on approval for Godda plant grid connection project buzz
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Shares of Adani Power rallied as much as 7% to their day’s high of Rs 168 on the NSE on Friday, October 17, after The Indian Express stated that the centre has granted approval to the company to lay an overhead transmission line to connect its Godda Ultra Super Critical Thermal Power Plant with the Indian grid through a Line-In Line-Out (LILO) arrangement of the Kahalgaon A–Maithon B 400 KV line. As of now, the Godda plant supplies electricity exclusively to Bangladesh. For the proposed transmission line that will traverse 56 villages across the Godda and Poreyahat tehsils in Jharkhand’s Godda district, the Centre has granted Adani Power Limited (APL) the same powers as those held by the telegraph authority under the Indian Telegraph Act, 1885. These powers permit the authority to lay and maintain telegraph lines and posts under, over, along, or across any immovable property, the report added. In a separate development, Adani Power Limite...