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Adani Enterprises surges on incorporating two new subsidiary companies

Adani Enterprises is currently trading at Rs. 178.30, up by 2.00 points or 1.13% from its previous closing of Rs. 176.30 on the BSE.

The scrip opened at Rs. 175.50 and has touched a high and low of Rs. 178.80 and Rs. 173.95 respectively. So far 318036 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 180.70 on 23-May-2019 and a 52 week low of Rs. 113.00 on 16-May-2019.

Last one week high and low of the scrip stood at Rs. 180.25 and Rs. 165.20 respectively. The current market cap of the company is Rs. 19494.13 crore.

The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 21.54% and 3.55% respectively.

Adani Enterprises has incorporated two new subsidiary companies namely ‘Adani Iron Ore Mining’ and ‘Adani Railways Transport’ on October 22, 2019 and October 23, 2019 respectively.

The company has incorporated Adani Iron Ore Mining, a wholly owned subsidiary, for carrying out mining of minerals and ores activities and other allied activities in any part of India or elsewhere. Besides, Adani Railways Transport, a wholly owned subsidiary, has been incorporated for the business of Building, Construction of Transportation facilities like Railways and other Railways related infrastructure projects and Engineering, Procurement and Construction thereof.

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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