Adani Power gains 4%, hits new high on DB Power deal; up 47% in one month

The acquisition of DB Power's thermal power assets will help the company to expand its offerings and operations in the thermal power sector in the state of Chhattisgarh.

Shares of Adani Power hit a new high of Rs 428.20, up 4 per cent on the BSE in Monday's intra-day trade in an otherwise weak market, after the company said it has agreed to acquire the thermal power assets of DB Power for the enterprise value of nearly Rs 7,017 crore. At 09:32 am, Adani Power traded 3 per cent higher at Rs 423.50, as compared to 0.7 per cent decline in the S&P BSE Sensex.

DB Power owns and operates a running 2x600 MW thermal power plant at District Janjgir Champa in Chhattisgarh, and had a turnover