Adani Enterprises rises as its arm deposits Rs 100 crore as EMD for 5G spectrum auction

Adani Enterprises is currently trading at Rs. 2454.50, up by 30.50 points or 1.26% from its previous closing of Rs. 2424.00 on the BSE.

The scrip opened at Rs. 2413.50 and has touched a high and low of Rs. 2459.00 and Rs. 2405.00 respectively. So far 43974 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 2,459.00 on 19-Jul-2022 and a 52 week low of Rs. 1333.30 on 19-Jul-2021.

Adani Enterprises
Adani Enterprises

Last one week high and low of the scrip stood at Rs. 2459.00 and Rs. 2334.00 respectively. The current market cap of the company is Rs. 278513.67 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 22.31% and 2.77% respectively.

Adani Enterprises’ arm Adani Data Networks has deposited Rs 100 crore as earnest money deposit (EMD) for the 5G spectrum auction.

EMD amounts give a broad indication of the company’s plan for picking up the spectrum in an auction.

The EMD determines the eligibility points, through which telcos target a specific amount of spectrum in a given circle.

With its EMD at Rs 100 crore, the eligibility points assigned to Adani Data Networks for the auction stand at 1,650.

Adani Enterprises is an infrastructure company.

The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution.

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