The company's board at the meeting held today (22 June) approved voluntary delisting of shares of the company from the stock exchanges at a floor price of Rs 33.82 per share.

On 29 May 2020, the company received a proposal from Adani Properties (APPL), a member of the promoter and promoter group of the company, for voluntary delisting the equity shares of the company from BSE and NSE.

The promoter group collectively held 74.97% stake while the public shareholders held 25.03% stake in the company as on 29 May 2020.

The scrip's delisting floor price is near its 50-day daily simple moving average place at 33.97.

The company reported a consolidated net loss of Rs 1,312.90 crore in Q4 March 2020 as against net profit of Rs 634.64 crore in Q4 March 2019. Net sales fell 8.17% to Rs 6,172.43 crore in Q4 FY20 over Q4 FY19.

Adani Power is engaged in providing electric power generation by coal-based thermal power plants and coal trading.

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The Board of Adani Power will convene on 22 June 2020 to consider the delisting proposal.

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Adani Power will hold a meeting of the Board of Directors of the Company on 22 June 2020.

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Piramal Enterprises Ltd, BASF India Ltd, Sun Pharma Advanced Research Company Ltd and JSW Energy Ltd are among the other losers in the BSE's 'A' group today, 03 June 2020.

Adani Power Ltd lost 6.09% to Rs 37.75 at 14:53 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 32.85 lakh shares were traded on the counter so far as against the average daily volumes of 11.32 lakh shares in the past one month.

Piramal Enterprises Ltd crashed 3.76% to Rs 1134.9. The stock was the second biggest loser in 'A' group.On the BSE, 82995 shares were traded on the counter so far as against the average daily volumes of 1.13 lakh shares in the past one month.

BASF India Ltd tumbled 3.69% to Rs 1133.8. The stock was the third biggest loser in 'A' group.On the BSE, 4364 shares were traded on the counter so far as against the average daily volumes of 1937 shares in the past one month.

Sun Pharma Advanced Research Company Ltd pared 3.14% to Rs 135.9. The stock was the fourth biggest loser in 'A' group.On the BSE, 68948 shares were traded on the counter so far as against the average daily volumes of 85775 shares in the past one month.

JSW Energy Ltd fell 3.00% to Rs 43.65. The stock was the fifth biggest loser in 'A' group.On the BSE, 2.76 lakh shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one month.

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