Adani Power Shares Decline Over 2% After Report Of 8.1% Stake Sold In Block Deal

Adani Power shares fell over 2% on Wednesday after a media report suggested a promoter firm likely sold shares in a block deal to a major global fund. Block deals transferred 8.1% of the company's total stock, according to Bloomberg. The bulk and block trade data had yet to be released by the stock exchanges.

In multiple significant transactions on Wednesday, almost 8.1% of Adani Power's total equity, exchanged hands as Adani Group stepped up its efforts to recover from a US-based short-seller attack, according to CNBCTV18.

Adani Power stock on Wednesday closed at Rs 279.30 per share, 2.229% higher from its previous close. It hit high and low at Rs 291.50 and Rs 274.65, respectively. Stock jumped 0.81% in 1 week, and 15.48% in 1 month, respectively. However, it has fallen 22.91% in 1 year.