Adani Enterprises surges on getting LoAs from UPEIDA

Adani Enterprises is currently trading at Rs. 1634.25, up by 42.35 points or 2.66% from its previous closing of Rs. 1591.90 on the BSE.

The scrip opened at Rs. 1627.00 and has touched a high and low of Rs. 1638.20 and Rs. 1603.00 respectively. So far 55255 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1788.00 on 24-Nov-2021 and a 52 week low of Rs. 409.80 on 21-Dec-2020.

Last one week high and low of the scrip stood at Rs. 1727.00 and Rs. 1556.00 respectively. The current market cap of the company is Rs. 179368.03 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 21.92% and 3.16% respectively.

Adani Enterprises has received Letter of Awards (LoAs) from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for three Greenfield Ganga Expressway Projects – Group II, III and IV from Badaun to Prayagraj in the state of Uttar Pradesh on DBFOT (Toll) basis for 594 kms. The proposed Greenfield Ganga Expressway will be India’s longest expressway under PPP (Public-private partnership) framework which will connect Meerut with Prayagraj in the state of Uttar Pradesh.

The combined estimated cost as per UPEIDA for Group II, III and IV projects is Rs 17085.16 crore

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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