new Delhi. Adani Group has got good news from the top court of the country. Actually, the Supreme Court has given a verdict in favor of Adani Power of billionaire Gautam Adani. The court has ordered three Rajasthan-based distribution companies i.e. discoms to pay a total compensatory tariff of Rs 4200 crore to Adani Power within 4 weeks.
Adani Power’s stock has gained wings after the Supreme Court’s decision in favor of the company. The company saw an increase of more than 12 percent in today’s business on 25 February. The company’s shares closed at Rs 123.30, up by 12.15 percent.
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contempt of court case
The top court said these three Rajasthan-based distribution companies have not paid the dues after their review petitions were dismissed earlier this year. In this case, he has committed contempt of court.
It is worth mentioning that these three companies had filed a review petition for review of the order in 2022 in which it was demanded that the order of giving compensatory tariff to Adani Power be reviewed again, but the court rejected this review petition. Had done it. The Supreme Court has now ordered these companies to pay a total compensatory tariff of Rs 4,200 crore to Adani Power. tell me
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Bullish signs still remain
Shrikant Chauhan, Executive Vice President (Equity Technical Research), Kotak Securities, says that the pattern of the stock is looking very good on the daily and weekly charts. There are still signs of bullishness in this stock. For the trend-flowing traders, there is an important support at the 122-125 level. If this stock manages to stay above this level, then the level of Rs 140-147 can be seen in it.
Tags: Adani Group, Gautam Adani
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