Adani Enterprises Ltd Share Price – NSE /  BSE

Trading, Mid Cap

Adani Enterprises Ltd fell for a fifth straight session today. The stock is quoting at Rs 3037.6, down 0.96% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.34% on the day, quoting at 25102.65. The Sensex is at 81973.4, up 0.32%.Adani Enterprises Ltd has eased around 1.68% in last one month.Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has eased around 0.1% in last one month and is currently quoting at 9432.75, up 0.09% on the day. The volume in the stock stood at 9.99 lakh shares today, compared to the daily average of 22.26 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 3043.3, down 0.71% on the day. Adani Enterprises Ltd jumped 21.19% in last one year as compared to a 29.78% rally in NIFTY and a 42.69% spurt in the Nifty Metal index.

The PE of the stock is 122.24 based on TTM earnings ending June 24.

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Adani Enterprises has approved the public issue of up to 80,00,000 secured, rated, listed, redeemable, non-convertible debentures of face value Rs 1,000 each, amounting to Rs 400 crore with an option to retain over-subscription up to Rs 400 crore aggregating up to Rs 800 crore. The issue opens on 04 September 2024 and closed on 17 September 2024.

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The key equity indices traded with major gains in early trade. The Nifty traded near the 24,600 level. Barring the Auto shares all sectoral indices traded in green on the NSE.

At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 120.52 points or 0.15% to 80,567.13. The Nifty 50 index added 59.35 points or 0.24% to 24,600.50.

In the broader market, the S&P BSE Mid-Cap index added 0.54% and the S&P BSE Small-Cap index gained 1.21%.

The market breadth was strong. On the BSE, 2,403 shares rose and 710 shares fell. A total of 133 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 766.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,606.18 crore in the Indian equity market on 16 August 2024, provisional data showed.

Economy:

India’s forex reserves declined $4.8 billion to $670.119 billion for the week ended August 9, according to the latest RBI data.

In the previous reporting week, the country’s foreign exchange reserves had increased $7.533 billion to an all-time high of $674.919 billion.

For the week ended August 9, foreign currency assets, a major component of the reserves, decreased by $4.079 billion to $587.96 billion.

Gold reserves declined by $860 million to $59.239 billion during the week. The special drawing rights (SDRs) were up by $121 million to $18.282 billion.

India’s reserve position with the IMF increased by $18 million to $4.638 billion in the reporting week, the central bank data showed.

Stocks in Spotlight:

Adani Enterprises rose 0.27%. The company’s board has approved issuance of non-convertible debentures (NCDs) of face value of Rs 1,000 each upto Rs 400 crore with an option to retain over-subscription upto Rs 400 crore, aggregating upto Rs 800 crore.

DCX Systems rallied 4.33% after the company received Rs 107 crore orders from domestic and overseas customers for supply of electronic kits and cable & wires harness assemblies.

Samvardhana Motherson International rose 0.12%. The company incorporated a new unit in Abu Dhabi for auto component manufacturing.

Numbers to Track:

The yield on India's 10-year benchmark federal paper jumped 1.66% to 6.981 as compared with previous close 6.867.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.8750, compared with its close of 83.9500 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement advanced 0.26% to Rs 71,563.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies shed 0.12% to 102.34.

The United States 10-year bond yield shed 0.10% to 3.888.

In the commodities market, Brent crude for October 2024 settlement lost 13 cents or 0.16% to $79.55 a barrel.

Global Markets:

Asian stocks traded mixed on Monday as investors weighed optimism about a US economic soft landing against concerns over the global growth outlook.

Expectations of cooling inflation and a potential easing cycle by the Federal Reserve buoyed sentiment. However, investors remained cautious ahead of key US economic data this week and Federal Reserve Chair Jerome Powell's speech on Friday.

In Asia, market participants will closely monitor central bank meetings in Indonesia and South Korea for potential rate adjustments. Thailand's policy decision is particularly awaited given uncertainties surrounding the new government's economic plans.

US stocks rebounded from earlier losses to close higher on Friday, as a report showing improved consumer sentiment boosted investor confidence. The Dow Jones Industrial Average rose 0.24%, the S&P 500 climbed 0.20% and the Nasdaq Composite gained 0.21%.

The University of Michigan’s gauge of consumer sentiment rose to 67.8 in a preliminary August reading, up from 66.4 in the prior month. It is the first gain after four months of declines.

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Securities in F&O ban: Aarti Industries, Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Biocon, Chambal Fertilizers, Granules India, India Cements, IndiaMart Intermesh, LIC Housing Finance, Manappuram Finance, NMDC, Piramal Enterprises, PNB, RBL Bank, Sail, and Sun TV.

Stocks to watch:

Adani Enterprises’ board has approved issuance of non-convertible debentures (NCDs) of face value of Rs 1,000 each upto Rs 400 crore with an option to retain over-subscription upto Rs 400 crore, aggregating upto Rs 800 crore.

Jubilant Pharmova’s unit, Jubilant Biosys will add discovery and preclinical development capabilities. Capabilities to be added via new company incorporated in France, which will acquire Pierre Fabre’s R&D centre in the country. The company will invest upto 14.4 million pounds over seven years, including 4.4 million pounds for an 80% stake in new company.

Techno Electric & Engineering Company partnered with Indi Grip to develop greenfield transmission projects.

Bata India’s Anil Ramesh Somani resigned as chief financial officer (CFO) with effect from Wednesday, 4 September 2024.

Tamilnad Mercantile Bank said that RBI approved the appointment of Salee Sukumaran Nair as MD and CEO for 3 years.

DCX Systems received Rs 107 crore orders from domestic and overseas customers for supply of electronic kits and cable & wires harness assemblies.

Samvardhana Motherson International incorporated a new unit in Abu Dhabi for auto component manufacturing.

JNK India has received a 'major’ order from Hindustan Petroleum Corporation (HPCL). As per JNK India’s classification, the value of the said contract lies between Rs 150 crore and Rs 350 crore. The contract is for setting up a new process plant - HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery.

Caplin Point Laboratories said that Brazilian Health Regulatory Agency’s (ANVISA) inspection was conducted at its Chennai facility between 12 and 16 August 2024 and concluded with zero observations.

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