Shares of Adani Enterprises hit their record high today as broader markets moved in line with positive global cues. Adani Enterprises stock hit all-time high of Rs 3,506 against the previous close of Rs 3,461.95 on BSE. Earlier, Adani Enterprises stock opened higher at Rs 3,470 on BSE. Adani Enterprises shares have gained 123.57 per cent in one year and risen 102.1 per cent since the beginning of this year.
Market cap of Adani Enterprises stood at Rs 3.93 lakh crore on BSE. Total 0.59 lakh shares of the firm changed hands amounting to a turnover of Rs 20.39 crore. Adani Enterprises stock hit a 52-week low of Rs 1,344.60 on October 28, 2021.
Earlier, this month, National Stock Exchange of India (NSE) announced that the Adani Group firm would be included in Nifty 50 index, replacing Shree Cement, from September 30. This will be the second stock from the billionaire Gautam Adani-led Adani Group to be included in the index after Adani Ports & SEZ. NSE reviews the inclusion and exclusion of stocks semi-annually.
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The inclusion of Adani Enterprises, flagship of the diversified Adani Group, into the Nifty 50 index by this month-end, is likely to attract inflows of about $285 million, as per domestic brokerage and research firm Edelweiss.
At present, Gautam Adani, chairman of the Adani Group, the world’s third richest person, owns seven listed companies in the country. This includes Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission and Adani Wilmar.
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The firm posted a strong set of numbers in Q1 of the current fiscal. Adani Enterprises reported a 73 per cent rise in consolidated net profit at Rs 469 crore for the quarter ended June 2022. It reported a consolidated net profit of Rs 271 crore in the year-ago period. Consolidated revenue from operations surged 225 per cent to Rs 40,844 crore as compared to Rs 12,579 crore in Q1FY22.
