ICICI Securities Shares in Spo...
by
Tanushree Jaiswal
15/05/2024
Indian Market
Adani Transmission rebranded as Adani Energy Solutions
Tanushree Jaiswal
28th July 2023 - 05:13 pm
Adani Transmission Limited, a key division of the Adani Group involved in power transmission and distribution, has undergone a name change to become Adani Energy Solutions Limited. This renaming took effect on July 27, 2023, following the receipt of a 'Certificate of Incorporation from the Registrar of Companies.
The decision to rebrand was primarily influenced by Adani Transmission's expansion into the power distribution sector, achieved through the successful acquisition of Reliance Infrastructure Limited's power distribution business.
Additionally, the company obtained a parallel license in Maharashtra and Uttar Pradesh, further strengthening its position as the largest private transmission company in the country.
Anil Sardana, the managing director of Adani Energy Solutions Limited, highlighted that the renaming was well-timed, given the prevailing optimistic economic conditions in India. The country has been experiencing growth driven by government reforms, resilience during the pandemic, increased consumer aspirations, and the broadening of global supply chains, which have given rise to the "China +1 phenomenon."
The stock price of Adani Transmission rose by 1.80% on Friday, outperforming the benchmark Nifty, which was trading negatively at 0.40%.
The transformation to Adani Energy Solutions Limited reflects the company's commitment to providing efficient and sustainable energy solutions to meet India's growing power demands. By leveraging innovative technologies, the company aims to play a crucial role in the nation's journey toward a greener and more prosperous future.
Characters remaining
(1500)
View All
Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Get 100 trades FREE* with the code "FREEPACK"
Trending on 5paisa
02
Tanushree Jaiswal
03
Tanushree Jaiswal
05
Tanushree Jaiswal
Discover more of what matters to you.
Indian Market Related Articles
Siemens Share Price Up by 7% t...
by
Tanushree Jaiswal
15/05/2024
IRDAI Approves Stake Sale in R...
by
Tanushree Jaiswal
15/05/2024
Cipla Share Price Rise 4% Foll...
by
Tanushree Jaiswal
15/05/2024
MSCI May 2024 Update: 13 New A...
by
Tanushree Jaiswal
15/05/2024