Adani Transmission shares to be in focus today

Shares of Adani Transmission will be in focus on Monday ahead of its quarterly results later in the day. The results will be reflected in a conference call hosted by Nuvama Wealth Management with Adani Transmission management to discuss the company's financial results on Tuesday at 11 a.m. IST. Anil Sardana, MD at Adani Transmission Bimal Dayal CEO Kandarp Patel, CEO for distribution Rohit Soni CFO Kunjal Mehta CFO for AEML and Vijil Jain lead IR will be present on the call.

The Adani Transmission company has recently come under fire over the decision to raise funds by issuance of shares for an aggregate amount not exceeding Rs 8.500 crore. The company intends to raise funds via qualified institutional placement QIP or other permissible mode, subject to the receiving of the necessary approvals, in accordance with the applicable laws.

A publicly traded company can adopt a capital raising method known as QIP, allowing for theissuance of equity shares, fully and partially convertible debentures, or any other security convertible into equity shares other than warrants. The value of a QIP, compared to IPO, is limited to institutions or qualified institutional buyers.

Adani Transmission had planned an in-person meeting with investors at Jefferies India Forum Equity Conference, New Delhi, on May 25. It plans to hold in-person interactions with investors at Nomura Investment Forum Equity Conference Singapore on 6 and 7 June.

Adani Transmission was among two Adani Group stocks which were excluded from the MSCI indices earlier this month. The MSCI Rejig will be scheduled on May 31 and Adani Transmission is expected to see $189 million in outflows.

Adani Transmission reported a 73 per cent jump in consolidated net profit for the December quarter compared to Rs 267 billion in the year-ago period, aided by a one-time income of Rs 240 crore from a regulatory order. In December, the company's revenue rose 16 per cent to Rs.3,037 a year compared to Rs.2,623 a year ago.

Here is what Prabhudas Lilladher, the chief executive of India's oil company, said.