Trading higher for the fifth straight session, Adani Enterprises jumped over eight per cent to touch new life high at Rs 1713.55 on the BSE intraday at close on Friday as compared to 0.25 per cent a decline in the S&P BSE Sensex. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Adani Enterprises also become the second most valuable company among the Gautam Adani-led Adani Group of companies with a market a market capitalisation of Rs 1.85 trillion, as per BSE data.  

 

See Zee Business Live TV Streaming Below:

Adani Green Energy, which declined by 0.7 per cent at the close today, is the most valuable Adani Group company with a market capitalisation of Rs 1.99 trillion. While Adani Enterprises is now less than 10 per cent away from becoming the most valuable group company. 

The stock has rallied over 30 per cent during the week, as compared to a 1.5 per cent rise in the S&P BSE Sensex. While it has soared over 40 per cent since May 14, 2021.  

Adani Total Gas has market-cap of Rs 1.81 trillion, followed by Adani Transmission (Rs 1.76 trillion), and Adani Port & Special Economic Zone (Rs 1.70 trillion), the BSE data shows. 

On a standalone basis, Adani Enterprises has mainly integrated resources management (IRM) / coal trading, power trading and mining services businesses.  

While it has diversified businesses which include solar cell and module manufacturing, agro-processing (including the sale of branded edible oil), commodities trading, bunkering (fueling) of ships and shipping on a consolidated basis. 

Adani Enterprises reported a four-fold jump in consolidated net profit at Rs 234 crore in the fourth quarter of FY21 as against Rs 61 crore in the year-ago period. The consolidated revenue of the company during the quarter was at Rs 13,689 crore as compared with Rs 13,698 crore in the year-ago period.  

Similarly, the company has also said that Adani Airports was set to dominate the airports space with 200 million plus consumer base leveraging network effect and consumer mindset.