Adani Enterprises Ltd shares jumped 7 per cent to Rs 1,528.30 on the BSE in intra-day trade, bouncing back 8 per cent from its day’s low of Rs 1,417 on the back of heavy volumes. The stock had hit a record high of Rs 1,718.45 on June 7, 2021. Trading volumes on the counter jumped 1.6 times, with a combined 9.74 million equity shares having changed hands on the NSE and BSE till 12:19 pm. In comparison, the S&P BSE Sensex was down 0.24 per cent at 54,363 points.
With a market capitalization (market-cap) of Rs 1.68 trillion, Adani Enterprises has become the most valuable Adani Group firm. Adani Ports and Special Economic Zone is ranked second with a market cap of Rs 1.46 trillion, followed by Adani Green Energy (Rs 1.42 trillion), Adani Transmission (Rs 1.06 trillion), and Adani Total Gas (Rs 1.02 trillion), the BSE data shows.
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Adani Enterprises is the flagship company of Adani Group, one of India’s most prominent business organizations. The next generation of its strategic business investments is centered on airport management, roads, data centre and water infrastructure, which has significant scope for value unlocking.
On August 2, 2021, Adani Enterprises announced that Adani Wilmar (AWL), a 50:50 joint venture company between the Adani group and the Wilmar group, filed its draft red herring prospectus with the Securities and Exchange Board of India about its proposed Initial Public Offering (IPO) to raise to Rs 4,500 crore.
Stock Covered in the news
