Adani Enterprises gains as its arm acquires 400MHz of spectrum in 26GHz millimetre wave band
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Adani Enterprises is currently trading at Rs. 2703.60, up by 20.70 points or 0.77% from its previous closing of Rs. 2682.90 on the BSE.
The scrip opened at Rs. 2689.00 and has touched a high and low of Rs. 2701.85 and Rs. 2687.55 respectively. So far 2288 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2,701.85 on 03-Aug-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. 2701.85 and Rs. 2532.00 respectively. The current market cap of the company is Rs. 305850.90 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 subsidiary -- Adani Data Networks (ADNL) has acquired the right to use 400MHz of spectrum in the 26GHz millimetre wave band. ADNL secured this spectrum for 20 years in the first ever 5G spectrum auction conducted by the government’s Telecommunications Department.
The newly acquired 5G spectrum is expected to help create a unified digital platform that will accelerate the pace and scale of the Adani Group’s digitisation of its core infrastructure, primary industry and B2C business portfolio. The acceleration of digital enablement will have material long term improvement in the rate of return on assets. Acquiring 400MHz of spectrum is the Group’s first step in integrating its digital infrastructure portfolio, which includes Data Centres, Terrestrial Fibre and Submarine Cables, Industrial Cloud, AI Innovation Labs, Cybersecurity and SuperApps.
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.
