Adani Enterprises gains as its arm acquires balance 49% stake in Adani Green Technology
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Adani Enterprises is currently trading at Rs. 3060.85, up by 8.35 points or 0.27% from its previous closing of Rs. 3052.50 on the BSE.
The scrip opened at Rs. 3065.55 and has touched a high and low of Rs. 3080.70 and Rs. 3027.75 respectively. So far 8411 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3349.35 on 04-Mar-2024 and a 52 week low of Rs. 1573.00 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 3164.65 and Rs. 2878.75 respectively. The current market cap of the company is Rs. 347985.34 crore.
The promoters holding in the company stood at 72.61%, while Institutions and Non-Institutions held 20.09% and 7.30% respectively.
Adani Enterprises’ wholly owned subsidiary -- Adani Tradecom (ATL) has acquired balance 49% stake in Adani Green Technology (AGTL) from Adani Trading Services LLP (ATS LLP) and hence AGTL has become a step-down wholly owned subsidiary of the Company.
Consequent to the above, Mundra Solar, a wholly owned subsidiary of AGTL, has also become a step-down wholly owned subsidiary of the Company. Further, by virtue of conversion of CCDs and OCDs issued by Mundra Solar PV (MSPVL) to promoter entities, shareholding of AGTL in MSPVL has reduced from 100% to 51%. Despite this, the economic interest of the Company, in MSPVL, continues to be 51%.
Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.
