India, Feb. 16 -- Shares of an integrated power utility engaged in electricity generation, transmission, and distribution were in focus after it announced the acquisition of Nabha Power from the L&T Power Development Limited for Rs 6,889 crore.

With a market cap of about Rs 74,000Cr, Torrent Power Ltd saw its stock hit an intraday high of Rs 1477 which is almost 1 percent higher than the previous close of Rs 1463. The company stock has given a compounded return of 42 percent in the last three years.

News Torrent Power Limited has entered into a definitive agreement with L&T Power Development Limited to acquire 100 percent equity and convertible instruments in Nabha Power Limited for an enterprise value of Rs 6,889 crore. The acquisition...