Adani Enterprises gains as its arms get financial closure for India's largest greenfield expressway project
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Adani Enterprises is currently trading at Rs. 3500.15, up by 28.15 points or 0.81% from its previous closing of Rs. 3472.00 on the BSE.
The scrip opened at Rs. 3451.00 and has touched a high and low of Rs. 3524.00 and Rs. 3370.45 respectively. So far 222620 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3883.70 on 20-Sep-2022 and a 52 week low of Rs. 1344.60 on 28-Oct-2021.
Last one week high and low of the scrip stood at Rs. 3662.25 and Rs. 3370.45 respectively. The current market cap of the company is Rs. 399792.69 crore.
The promoters holding in the company stood at 72.28% while Institutions and Non-Institutions held 21.51% and 6.22% respectively.
Adani Enterprises’ wholly owned subsidiaries -- Budaun Hardoi Road (BHRPL), Hardoi Unnao Road (HURPL) and Unnao Prayagraj Road (UPRPL) have achieved financial closure for the access-controlled six lane (expandable to eight lane) greenfield Ganga Expressway Project (Group-II, III & IV) in Uttar Pradesh (UP) respectively on DBFOT (Toll) basis under PPP mode.
The concession period shall be 30 years. The Ganga Expressway in Uttar Pradesh, which will connect Meerut with Prayagraj, will be India’s longest expressway to be implemented on DBFOT basis. Of its 594-km length, the company will build 464 km from Budaun to Prayagraj, which comprises 80% of the expressway project.
Adani Enterprises’ road portfolio has grown to 18 projects with more than 6,400 lane kms and an asset value exceeding Rs 44,000 crore. Spread over ten states in India – Uttar Pradesh, Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat, West Bengal and Odisha. The portfolio has a mix of HAM (Hybrid Annuity Mode), TOT (Toll-Operate Transfer) and BOT (Build-Operate-Transfer) type assets.
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.
