Adani Enterprises Shares jumps by 123% in a Year

A record high was reached by Adani Enterprises shares today as broader markets followed encouraging global indications. Against the previous BSE close of Rs 3,461.95 the share price of Adani Enterprises reached an all-time high of Rs 3,506. Earlier, the BSE stock of Adani Enterprises opened higher at Rs 3,470. Shares of Adani Enterprises have increased 123.57% over the course of a year and 122.10% since the year’s beginning.

Adani Enterprises’ BSE market capitalization was Rs 3.93 lakh crore. A total of 0.59 lakh shares of the company were traded for a total transactional value of Rs 20.39 crore. On October 28, 2021, the price of Adani Enterprises stock fell to a 52-week low of Rs 1,344.60.

National Stock Exchange of India (NSE) made the announcement earlier this month that starting on September 30 the Adani Group company would replace Shree Cement in the Nifty 50 index. After Adani Ports & SEZ, this will be the second stock from the Adani Group, which is led by billionaire Gautam Adani, to be included in the index. The inclusion and deletion of stocks are reviewed by NSE every two years.

According to local brokerage and research firm Edelweiss, the inclusion of Adani Enterprises, the flagship of the diversified Adani Group, into the Nifty 50 index by this month’s end, is projected to bring inflows of roughly $285 million.

Currently the third richest man in the world and head of the Adani Group, Gautam Adani, owns seven publicly traded companies in the nation. Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission, and Adani Wilmar are included in this.

In the first quarter of the current fiscal year, the company reported solid results. For the quarter ending in June 2022, Adani Enterprises reported an increase in total net profit of 73% to Rs 469 crore. In the same time a year before, it reported a combined net profit of Rs 271 crore. Comparing Q1FY22 to Q2FY22, the combined revenue from operations increased by 225% to Rs 40,844 crore.

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