Lanco Infratech, Adani Power gains on power plant deal

Mumbai: Lanco Infratech gains 4.7 per cent while Adani Power Ltd rises 2.1 per cent on Thursday, a day after Lanco sold a power plant to Adani for $327 million to cut debt.

Nomura says Lanco had to conclude the sale under a corporate debt restructuring exercise, adding that the purchase is ‘likely to be positive’ for Adani.