Adani Enterprises share price added 3 percent on partnership with French energy major TotalEnergies.
Adani group and TotalEnergies have entered into a partnership to jointly create the world’s largest green hydrogen ecosystem, Adani Enterprises said in its press release.
In this alliance, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises, it added.
ANIL’s ambition is to invest over $50 billion over the next 10 years in green hydrogen and associated ecosystem.
In the initial phase, ANIL will develop green hydrogen production capacity of one million tonne per annum before 2030.
"In our journey to become the largest green hydrogen player in the world, the partnership with TotalEnergies adds several dimensions that include R&D, market reach and an understanding of the end consumer," said Gautam Adani, chairman, Adani Group.
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At 10:29 hrs Adani Enterprises was quoting at Rs 2,120.70, up Rs 39.25, or 1.89 percent on the BSE.
The share touched a 52-week high of Rs 2,420 and a 52-week low of Rs 1,201.10 on 27 April 2022 and 14 June 2021 respectively.
Currently, it is trading 12.37 percent below its 52-week high and 76.56 percent above its 52-week low.
The other Adani Group stocks including Adani Transmission, Adani Power and Adani Green Energy are trading up 1-4 percent.