Adani Enterprises zooms as its arm emerges as preferred bidder for Kutrumali bauxite block in Odisha

Adani Enterprises is currently trading at Rs. 1516.90, up by 152.85 points or 11.21% from its previous closing of Rs. 1364.05 on the BSE.

Adani Enterprises
Adani Enterprises

The scrip opened at Rs. 1418.00 and has touched a high and low of Rs. 1567.00 and Rs. 1410.00 respectively. So far 1168512 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023.

Last one week high and low of the scrip stood at Rs. 1567.00 and Rs. 1103.00 respectively. The current market cap of the company is Rs. 174180.77 crore.

The promoters holding in the company stood at 72.63%, while Institutions and Non-Institutions held 20.84% and 6.53% respectively.

Adani Enterprises’ wholly owned subsidiary — Mundra Aluminium (MAL) has been declared as the preferred bidder for the Kutrumali bauxite block by the Odisha government. Also, a letter of intent has been issued to Mundra Aluminium by the Odisha government on February 27, 2023. Mundra Aluminium incorporated with an objective of carrying out the business of mining, refining, smelting, development, production and operations of bauxite, alumina and aluminium.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business organisations.

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