Adani Enterprises makes it to the Top-50 most valuable companies list

Adani Enterprises makes it to the Top-50 most valuable companies list

Adani Enterprises, on Friday, made it to the list of the top-50 most valuable companies in India after the company's stock price rallied 9 per cent to Rs 719, also reaching a new high, on the BSE in the process.

Adani Enterprises, trading at Rs 718, today at 2:44 pm recorded a market capitalisation (m-cap) value of Rs 78,554 crore, and stood at the 49th position in the overall rankings, according to BSE data. While on Thursday, the company was at the 55th position in the market cap ranking.

Adani Enterprises surpassed steel major Tata Steel, personal products company Godrej Consumer Products, private lender IndusInd Bank, two-wheeler company Eicher Motors, paints company Berger Paints and real estate developer DLF to bag the 49th rank.

Adani Enterprises is the flagship company of Adani Group, that have a portfolio of robust businesses. The next-generation of its strategic business investments are centered on the fields of solar PV manufacturing, airport development & management, technology parks, and water infrastructure.

Adani Airports, a subsidiary of Adani Enterprises, recently won the mandate from the centre to modernize and operate six major airports across India - Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram for a period of 50 years through a globally competitive tendering process conducted by the Airports Authority of India (AAI).

In the past one week, the stock of Adani Enterprises have rallied up to 21 per cent courtesy of Adani Airports completed acquisition of 23.5 per cent stake in the Mumbai Airport.

"Adani Airport Holdings (AAHL), the flagship holding company of Adani Group for its airports business and a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 per cent equity stake, i.e., 282 million equity shares of Rs 10 of Mumbai International Airport, from ACSA Global and Bid Services Division (Mauritius) for Rs 1,685.25 crore," Adani Enterprises revealed in a regulatory filing, on February 6.


Source: IANS