Adani Enterprises rises on emerging as lowest bidder in Coal India`s tender for imports of dry fuel
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Adani Enterprises is currently trading at Rs. 2275.45, up by 14.85 points or 0.66% from its previous closing of Rs. 2260.60 on the BSE.
The scrip opened at Rs. 2260.90 and has touched a high and low of Rs. 2290.30 and Rs. 2260.90 respectively. So far 18409 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2420.00 on 27-Apr-2022 and a 52 week low of Rs. 1333.30 on 19-Jul-2021.
Last one week high and low of the scrip stood at Rs. 2290.30 and Rs. 2140.50 respectively. The current market cap of the company is Rs. 258763.15 crore.
The promoters holding in the company stood at 74.92%, while Institutions and Non-Institutions held 22.31% and 2.77% respectively.
Adani Enterprises has emerged as the lowest bidder in Coal India's tender for imports of the dry fuel. The company quoted over Rs 4,000 crore for supply of 2.416 million tonne. A negotiation for the quoted price may take place as the gap between the lowest bid value and the miner's own estimates of Rs 3,100 crore is in excess of around 30 per cent. Adani's bid is the lowest but it is Rs 900 crore more than the Coal India's own estimate.
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.
