Adani Power down 3 %; Haryana govt to challenge CERC order

The government of Haryana will challenge the power regulator's ruling this week that allows Adani Power to raise tariffs for electricity supplied to existing clients in two states, its power minister told Reuters on Thursday.

The Central Electricity Regulatory Commission (CERC) has allowed Adani Power to charge "compensatory" tariffs for electricity from its Mundra plant in the west coast state of Gujarat, until supply conditions improve.

At 10:05 hrs Adani Power was quoting at Rs 45.55, down Rs 1.30, or 2.77 percent. It has touched an intraday high of Rs 46.00 and an intraday low of Rs 45. It was trading with volumes of 219,569 shares.

In the previous trading session, the share closed down 1.68 percent or Rs 0.80 at Rs 46.85.

With inputs from reuters