Adani Enterprises Ltd

NSE :ADANIENT   BSE :512599  Sector : Trading

About Company: Adani Enterprises Ltd is an India-based company, with primary interests in energy and logistics sectors. The company’s segments comprises of: trading, power, port, agro, real estate and others. They have diversified interests in power, mining, oil and gas explorations, natural gas distribution businesses supported by port, shipping and trading activities. Their coal mining business involves mining, processing, acquisition, exploration and development of mining assets. Their city gas distribution business is undertaken through their wholly owned subsidiary, Adani Gas Ltd. They operate the real estate sector through their subsidiary, Adani Infrastructure and Developers Pvt Ltd. Adani Enterprises Ltd was incorporated in the year 1993 with the name Adani Exports Ltd

News in Stock: On August 2, Adani Wilmar, a 50:50 joint venture company between the Adani group and the Wilmar group filed draft papers for Rs.4,500 crore-IPO with SEBI. With a market capitalization (market-cap) of Rs.1.68 trillion, Adani Enterprises has become the most valuable Adani Group firm.

Daily Chart of Adani Enterprise Limited:

Technical Outlook of Adani Enterprises Limited:

Stock on Friday, August 07,2021 Closed at 1530.65 with gains of 7.28 percent on NSE. Stock on daily charts was trading in “Triangle Pattern” and has seen fresh breakout. Awesome oscillator and Squeeze Momentum Index shows strength. Stock is trading above key daily exponential moving averages i.e. 10,20,50,100.

As already stock is in buzz for the fresh IPO we may see trading action in the stock for the next few days. As overall the market looks bullish and we recommend buying stock on dips for the targets of 1588- 1650, Weakness in the stock can be seen if it closes below 1400 levels.