Adani Enterprises Ltd Share Price – NSE  /  BSE

Trading, Large Cap

Adani Enterprises announced that the board of Adani Cementation (ACL or Transferor Company), a wholly owned subsidiary of the Company, has, today i.e. 27 June 2024, approved a proposed Scheme of Amalgamation (proposed Scheme) under section 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules and regulations made thereunder for amalgamation of ACL with Ambuja Cements (Ambuja or Transferee Company). In view of the same, ACL and a step-down subsidiary Adani Cement Industries (ACIL) shall cease to be subsidiaries of the Company upon the proposed Scheme being effective.

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Adani Defence & Aerospace has signed a milestone cooperation agreement with EDGE Group, one of the world's leading advanced technology and defence groups in the UAE.

The agreement aims to establish a global platform leveraging the defence and aerospace capabilities of both companies to bring together their respective product portfolios and cater to the requirements of global and local customers. This includes evaluating cooperation across EDGE's and Adani's core product domains, including missiles & weapons covering airborne, surface, infantry, ammunition, and air defence products, platforms & systems covering unmanned aerial systems (UAS), loitering munitions, counter drone systems, unmanned ground vehicles (UGV), as well as electronic warfare (EW) and cyber technologies.

The agreement will explore the establishment of R&D facilities in India and the UAE; the setting up of development, production, and maintenance facilities of defence and aerospace solutions to not just serve the two captive markets, but also Southeast Asian and wider global markets

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Adani Enterprises Ltd rose for a fifth straight session today. The stock is quoting at Rs 3243.05, up 0.71% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.34% on the day, quoting at 23337.55. The Sensex is at 76691.49, up 0.26%. Adani Enterprises Ltd has added around 12.62% in last one month.

Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has added around 8.55% in last one month and is currently quoting at 9795.85, up 0.78% on the day. The volume in the stock stood at 24.16 lakh shares today, compared to the daily average of 46.9 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 3253.9, up 1.04% on the day. Adani Enterprises Ltd is up 30.52% in last one year as compared to a 25.46% gain in NIFTY and a 62.47% gain in the Nifty Metal index.

The PE of the stock is 131.37 based on TTM earnings ending March 24.

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EDGE Group, one of the world’s leading advanced technology and defence groups in the UAE. It has established to develop agile, bold and disruptive solutions for defence. .

The agreement aims to establish a global platform leveraging the defence and aerospace capabilities of both companies to bring together their respective product portfolios and cater to the requirements of global and local customers.

This includes evaluating cooperation across EDGE’s and Adani’s core product domains, including missiles & weapons covering airborne, surface, infantry, ammunition, and air defence products, platforms & systems covering unmanned aerial systems (UAS), loitering munitions, counter drone systems, unmanned ground vehicles (UGV), as well as electronic warfare (EW) and cyber technologies.

The said agreement will explore the establishment of research and development (R&D) facilities in India and the UAE; the setting up of development, production, and maintenance facilities of defence and aerospace solutions to not just serve the two captive markets, but also Southeast Asian and wider global markets.

Ashish Rajvanshi, CEO, Adani Defence & Aerospace, said, “Our collaboration marks the beginning of a new era in enhancing defence capabilities, emphasizing our commitment to advance technological prowess and promoting bilateral defence cooperation between India and the UAE. It is a reflection of our shared vision to fortify our nation’s capabilities by not just delivering cutting-edge solutions for the two countries but also setting new benchmarks in the global defence landscape.”

Hamad Al Marar, managing director and chief executive officer, Edge Group, said: Our agreement with Adani Defence & Aerospace, represents a significant milestone, strengthening our ties within India’s defence industry, and underscoring our mutual commitment to advancing UAE-India military ties. This agreement reflects our dedication to bringing our customers the most advanced and sophisticated products to the market, while taking advantage of the global export potential including critical UAE-grown technology. We are keen to setup the joint platform between Adani Defence and Edge to pioneer new technologies and set new standards in advanced military equipment and defence sector.”

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

The company's consolidated net profit fell 37.63% to Rs 450.58 crore in Q4 FY24 as compared with Rs 722.48 crore posted in Q4 FY23. However, the revenue from operations increased marginally to Rs 29,180.02 crore in Q4 FY24 from Rs 28,943.84 crore recorded in Q4 FY23.

The scrip rose 0.72% to currently trade at Rs 3,241.55 on the BSE.

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