Mumbai, September 16 (Patrika English News). Shares of Adani Enterprises Ltd (AEL) edged higher on Tuesday after the company announced it had received a Letter of Award (LoA) from National Highways Logistics Management (NHLML) for constructing the prestigious ropeway project connecting Sonprayag to Kedarnath.
The stock opened at ₹2,419.60 on the BSE and touched a high of ₹2,419.60 before trading at ₹2,394.30, up ₹11.20 or 0.47% from the previous close. Around 22,349 shares changed hands during the session. The company’s market capitalisation currently stands at ₹2.76 lakh crore.
The 12.9 km ropeway, to be executed by AEL’s Roads, Metro, Rail, and Water (RMRW) division, will dramatically cut travel time for pilgrims. Once operational, it will reduce the current nine-hour trek to just 36 minutes, with a capacity to carry 1,800 passengers per hour in each direction. Kedarnath attracts nearly 20 lakh pilgrims annually, making the project highly significant.
The ropeway is part of the government’s National Ropeways Development Programme – Parvatmala Pariyojana. The project, being developed under a Public-Private Partnership (PPP) model, will take six years to complete. AEL will operate the facility for 29 years after construction.
In addition to easing pilgrimage access, the project is expected to generate employment opportunities and boost tourism in the region.
Adani Enterprises, the flagship company of the Adani Group, continues to build major infrastructure assets across India as part of its strategy of responsible nation-building.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.