Adani Enterprises (AEL) has become the fourth company of the Adani Group, with a market capitalisation of over Rs 3 trillion. The stock hit a new high of Rs 2,693.30 in intraday trade on Tuesday, up 1% on the BSE.

Shares in AEL have risen 20% in the past month, while shares in S&P BSE Sensex have risen 9.4%. Also, in six months, the stock is up 52%, while the benchmark index is down 3%.

AEL is one of the fastest growing diversified businesses offering a wide range of products and services. The company operates as an incubator, building new businesses in transportation and logistics, energy and utilities, and its increasing focus on direct-to-consumer businesses.

AEL leads decarbonisation initiatives in industry and transport through Adani New Industries Limited (ANIL). AEL’s other next-generation strategic business investments focus on airport management, roads, data centres and water infrastructure, with significant value unlocking potential.

Exchange data showed that as of 11.25 am, the market capitalisation of Rs 3.07 trillion ranked 18th in the total market capitalisation ranking of BSE-listed companies. Currently, Adani Transmission leads the group with a market capitalisation of Rs 3.77 trillion, followed by Adani Green Energy (Rs 3.62 trillion) and Adani Total Gas (Rs 3.54 trillion).

Meanwhile, AEL’s Board of Directors is scheduled to meet on Thursday, August 4, 2022, to review and approve the company’s unaudited financial results for the quarter ended June 30, 2022 (Q1FY23), raising of debt securities through the offering.

In Q4FY22, AEL posted a net profit of Rs 304 crore, up 30% compared to the same period in fiscal 2021, on the back of improved performance in developing and mature businesses. EBITDA rose 44% year-on-year to Rs 1,538 crore in Q4FY22 due to higher airport business contribution following MIAL integration. Total revenue rose 84% year-on-year to Rs 25,142 crore due to higher revenue from the Integrated Resource Management (IRM) segment.

AEL’s existing businesses strengthened its performance, and management sees exciting journeys ahead for the company’s new businesses, such as connected airport ecosystems, road and water infrastructure, and green data centres. In addition, management said that the focus on new energy businesses and digital consumption platforms, as well as the company’s ability to execute, will drive shareholder value.