MUMBAI: Adani Enterprises Ltd and Adani Transmission Ltd, part of billionaire Gautam Adani’s group, are among the 50 most valuable, listed entities in India, with their stocks having surged over 60% each so far this year.
On Tuesday, Adani Enterprises’ market capitalisation stood at Rs87,000 crore, ranking 47 of 50 most valuable, listed firms in India, while Adani Transmission was at the 50th spot with a market cap of ?82,090 crore, as per data from BSE.
Shares of Adani Enterprises hit an all time high of Rs793.80 apiece on the BSE today, while those of Adani Transmission surged to record Rs746 apiece.
For the December quarter, Adani Transmission reported a net profit of Rs464 crore, up 128% from a year ago, while total income fell to Rs2,734.04 crore from Rs2835.72 crore.
The company said its transmission lines are operating at greater than 99.83% capacity and that 650 ckt km of lines were added to its network in the quarter.
It expects to commission eight of nine scheduled transmission projects by the end of 2021. Adani Transmission’s collection efficiency touched 109.9% in the third quarter due to recoveries from the first half of 2021.
Recently, Adani Group bought a 23.5% stake in Mumbai International Airport, held by ACSA Global Limited (ACSA) and Bid Services Division (Mauritius) Limited (Bidvest), for Rs1,685.2 crore.
The group plans to acquire 74% stake in MIAL, which includes the entire 50.5% stake of outgoing promoter GVK Group, thereby getting the rights to develop the upcoming Navi Mumbai airport.
News Source:- livemint