Adani Enterprises rises on incorporating Wholly Owned Subsidiary

Adani Enterprises is currently trading at Rs. 1834.85, up by 32.55 points or 1.81% from its previous closing of Rs. 1802.30 on the BSE.

The scrip opened at Rs. 1810.10 and has touched a high and low of Rs. 1858.45 and Rs. 1796.90 respectively. So far 77048 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023.

Last one week high and low of the scrip stood at Rs. 1858.45 and Rs. 1688.70 respectively. The current market cap of the company is Rs. 205462.40 crore.

The promoters holding in the company stood at 69.23%, while Institutions and Non-Institutions held 22.91% and 7.86% respectively.

Adani Enterprises has incorporated a Wholly Owned Subsidiary (WOS) company namely, Pelma Collieries (PCL), on April 7, 2023, with an initial Authorized Share Capital of Rs 10,00,000 and Paid-up Share Capital of Rs 5,00,000, interalia, to carry on business to develop, erection, operate of coal washery including coal handling systems and to do all necessary and incidental activities in this regard. PCL will commence its business operations in due course.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business organisations.