Adani Enterprises Ltd Share Price – NSE  /  BSE

Trading, Mid Cap

Mumbai Travel Retail, a step-down subsidiary of Adani Enterprises has completed the incorporation process of a joint venture company namely “KING POWER OSPREE PTE. LTD.” (“KPO) in Singapore on 16 April 2024 (confirmation of the same has been received by the Company on 16 April 2024 at 3:07 pm IST) with KING Power international, Singapore. MTRPL shall hold 50% share capital of KPO.

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In an exchange filing, the company said that the Mauritius-based company, Adani Global, has entered into a shareholders' agreement (SHA) to acquire a 49% stake in Adani Esyasoft Smart Solutions from Esyasoft Holding (EHL), UAE.

The SHA has been executed to engage in the business of developing smart solutions such as smart metering software, load forecasting, revenue maximization and other efficiency based software products and solutions for utilities both in India and globally, the Adani Group company stated in the press release.

Under the terms of the agreement, Adani and Esyasoft Holding will hold 49% and 51% shareholding, respectively, in Adani Esyasoft Smart Solutions.

Adani Enterprises 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 reported consolidated net profit to Rs 1,888 crore in Q3 FY24, steeply higher than Rs 820 crore in Q3 FY23. Revenue from operations increased 6.47% to Rs 28,336.38 crore in Q3 FY24 from Rs 26,612.23 crore posted in Q3 FY23.

Shares of Adani Enterprises declined 1.03% to close at Rs 3,208.75 on Friday, 12 April 2024.

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Kutch Copper, a subsidiary of Adani Enterprises, commissioned the first unit of its greenfield copper refinery project at Mundra on Thursday by dispatching the maiden batch of cathodes to customers.

This marks the Adani Portfolio's debut in the metal industry. The successful progress of the greenfield unit showcases the Adani Group's ability to plan and execute largescale projects.

Adani Enterprises is investing nearly $1.2 billion to set up a copper smelter with 0.5 MTPA capacity in the first phase. On completion of the second phase that will add similar capacity, Kutch Copper, with 1 MTPA, will be the world's largest single-location custom smelter, benchmarking ESG performance standards while leveraging state-of-the-art technology and digitalisation. It will create 2,000 direct and 5,000 indirect employment opportunities.

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Adani Enterprises Ltd rose for a fifth straight session today. The stock is quoting at Rs 3193, up 2.27% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 1.31% on the day, quoting at 22414.25. The Sensex is at 73914.88, up 1.26%. Adani Enterprises Ltd has dropped around 2.81% in last one month.

Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has dropped around 4.12% in last one month and is currently quoting at 8154.95, up 1.14% on the day. The volume in the stock stood at 9.94 lakh shares today, compared to the daily average of 14.95 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 3185.65, up 2.11% on the day. Adani Enterprises Ltd is up 83.46% in last one year as compared to a 31.23% gain in NIFTY and a 51.06% gain in the Nifty Metal index.

The PE of the stock is 139.01 based on TTM earnings ending December 23.

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