Monday , September 27 2021

Adani Enterprises inches up as its arm planning to acquire 49% stake in MBCPNL

Adani Enterprises is currently trading at Rs. 1437.45, up by 6.75 points or 0.47% from its previous closing of Rs. 1430.70 on the BSE.

The scrip opened at Rs. 1434.90 and has touched a high and low of Rs. 1445.00 and Rs. 1428.35 respectively. So far 23534 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1718.45 on 07-Jun-2021 and a 52 week low of Rs. 196.05 on 17-Aug-2020.

Last one week high and low of the scrip stood at Rs. 1458.00 and Rs. 1407.20 respectively. The current market cap of the company is Rs. 157349.83 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 21.79% and 3.29% respectively.

Adani Enterprises’ wholly-owned subsidiary — Adani Road Transport (ARTL) is planning to acquire a 49 percent stake in Maharashtra Border Check Post Network (MBCPNL), with an option to acquire additional stake subject to regulatory approval. The acquisition is at an enterprise value of Rs 1,680 crore implying an attractive EBITDA multiple of 7x. The deal is subject to customary regulatory and lender’s approvals and is expected to close in Q3 FY22.

Adani Enterprises is an infrastructure company. The company is engaged in coal trading, coal mining, oil and gas exploration, ports, multimodal logistics, power generation and transmission, and gas distribution

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