Stocks of Adani Enterprises hit ₹1 trillion mark in market cap
- The stock hit an all-time high of Rs915 a share with market cap of Rs1.01 trillion
Mumbai: Adani Enterprises Ltd on Wednesday joined the ₹1 trillion market capitalization club with its shares nearly doubling so far in 2021.
The stock hit an all-time high of ₹944.75 on Wednesday. At the close of trading, the stock settled at ₹918.65 on BSE, up 5.28% from its previous close with a market cap of ₹1.01 trillion. It was the third Adani Group company to achieve the milestone. Adani Green Energy ( ₹1.82 trillion) and Adani Ports and Special Economic Zone ( ₹1.48 trillion) had reached the landmark earlier.
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On 2 March, Mint reported that Adani Group is considering an alternative proposal to invest in Colombo port’s West Container Terminal after the failed talks between Sri Lanka, India and Japan to develop the East Container Terminal.
Recently, Adani Group bought a 23.5% stake in Mumbai International Airport (MIAL) from ACSA Global Ltd and Bid Services Division (Mauritius) Ltd for ₹1,685.2 crore. It will also acquire a 74% stake in MIAL, including the 50.5% stake of promoter GVK Group, to get the rights of developing the upcoming Navi Mumbai airport.
In the December quarter, the company posted a consolidated profit of ₹343.17 crore compared to ₹382.98 crore in the year-ago quarter. Its total income stood at ₹11,303.97 crore, against ₹10,653.16 crore in the year-ago period.
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