Shares of Lanco Infratech and Adani Power gained on Thursday after Lanco Infratech has sold its Udupi Power plant to Adani Power, for its 1200 MW Udupi power plant. The deal is valued at more than Rs 60 billion.

The Lanco Udupi Power Plant has already signed with Karnataka Government for further expansion of 1320 MW.

Shares of Lanco Infratech gained Rs 0.42, or 4.92%, to trade at Rs 8.95. The total volume of shares traded was 5,406,502 at the BSE (1.16 p.m., Thursday).

Adani Power gained at Rs 1.4, or 2.69%, to trade at Rs 53.45. The total volume of shares traded was 722,395 at the BSE (1.16 p.m., Thursday).