Adani Power shares react to fresh report on Bangladesh power deal; key details 

Shares of Adani Power Ltd cut losses and were down 0.8 per cent in Monday's trade, even as a Reuters report quoting a company spokesperson said the Adani group company has received no indication from the Bangladesh government that the latter is reviewing the power purchase agreement (PPA) with the company. The report came a day after Reuters suggested the neighbouring country was looking to renegotiate the deal.

Adani Power shares were trading at Rs 551.25, down 0.6 per cent. The scrip had fallen to a low of Rs 543.25 earlier today. To recall, High Court in Bangladesh had last week ordered a committee of experts to examine the contract under which the Adani group supplies power from its $2 billion coal-fired plant in eastern India.

Reuters had on Sunday suggested that Bangladesh wanted to sharply lower prices under the deal with Adani Group, unless the deal itself is cancelled. The court had called for an investigation into the 25-year deal.

The power deal with the neighbour was signed in 2017 by Adani and a government entity under the Sheikh Hasina rule. Hasina was later ousted this year amid an uprising and accusations of widespread corruption.

Adani Power has over $800 million in dues to recover from Bangladesh. It has been supplying 700 (megawatt) MW-750 MW from around 1,400-1,500 MW in early August, Reuters reported.

Adani Power continues to supply power to Bangladesh despite mounting dues, which are of significant concern and are rendering plant operations unsustainable, Reuters suggested a spokesperson for Adani Power saying in a statement.

"We are in constant dialogue with senior officials of Bangladesh Power Development Board (BPDB) and the Government of Bangladesh, who have assured us that our dues will be cleared soon," the spokesperson said.