CESC, a power utility engaged in the generation & distribution of electricity in Kolkata and Howrah, West Bengal announced that its wholly owned subsidiary, Eminent Electricity Distribution has emerged as highest bidder for acquiring 100% stake in power distribution company for Union Territory of Chandigarh.
The above acquisition for Distribution license is subject to further formalities as prescribed under the tender documents including receipt of letter of intent. Shares of the company declined Rs 18.15, or 2.30%, to settle at Rs 770.55. The total volume of shares traded was 49,590 at the BSE (Thursday).
