Adani Power Limited experienced a notable uptick in its share value, rising over 4% in early trading on March 27, following the Competition Commission of India's (CCI) approval of its proposed acquisition of Lanco Amarkantak Power.

The acquisition aims to encompass 100% of Lanco Amarkantak Power's share capital and control, as part of the insolvency resolution process initiated under the Insolvency and Bankruptcy Code, 2016 (IBC).

Lanco Amarkantak Power operates primarily in the thermal power generation sector.

The CCI's order highlighted the nature of the proposed combination, emphasizing the acquirer's acquisition of the target's entire equity share capital.

Adani Power had previously disclosed receiving creditor approval for the resolution plan to acquire Lanco Amarkantak Power on March 5.

Notably, the CCI determined that this transaction would not significantly impact competition within any plausible relevant market in India.

Additionally, on March 26, Adani Power disclosed the initiation of new litigation, involving a petition filed by the Maharashtra State Electricity Distribution Company (MSEDCL) with the Maharashtra Electricity Regulatory Commission (MERC).

This petition concerns calculating domestic coal transportation costs, highlighting the complexities and challenges inherent in the energy sector.

As trading progressed, at 9:25 am, Adani Power's stock was trading at Rs 541 on the National Stock Exchange, marking a 3.7% increase from the previous closing price.

Notably, Adani Power's share price has witnessed a substantial surge of 185% over the past year, reflecting investor confidence and optimism surrounding the company's strategic moves and potential growth prospects.