Update for

ADANIPOWER

Investors

Resumes Full Electricity Supply to Bangladesh Shares of Adani Power Ltd rose over 5% on Thursday as the Adani Group firm has resumed full electricity supply to Bangladesh, four months after reduced feed over unpaid dues. The stock ended 4.39% higher at Rs 519.65, with the company's market cap climbing to Rs 2 lakh crore. Stock Performance and Technical Analysis The Adani Power stock traded higher than the 5-day, 10-day, 20-day, 30-day, and 50-day moving averages, but lower than the 150-day and 200-day moving averages. The relative strength index (RSI) of 44.6 signals that the stock is neither in the oversold nor the overbought zone. Adani Power's Power Supply Contract with Bangladesh Adani Power had reduced supply by 50% to Bangladesh on October 31 last year due to payment delays, leading to the closure of one unit. However, Bangladesh is now making regular payments, and Adani Power has resumed full electricity supply as per the 25-year contract signed in 2017 under former Prime Minister Sheikh Hasina. The Adani Group firm's $2 billion plant in Jharkhand sells exclusively to Bangladesh.