Adani Enterprises shares hit new record high

Published on Jun 02, 2021 03:38 PM IST

Adani Enterprises Ltd is the flagship company of Adani Group. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses and divesting them into separate listed entities.

File photo of Gautam Adani, Chairman of Adani Group.(Reuters)
File photo of Gautam Adani, Chairman of Adani Group.(Reuters)
By | Edited by Amit Chaturvedi, Hindustan Times, New Delhi

The stock of Adani Enterprises continued its rally on Wednesday, hitting a new high of 1,549 in the intra-day trading on the Bombay Stock Exchange (BSE). The stock price has now surpassed its previous high of 1,390, recorded on Tuesday.

Earlier this month, the company announced that its January to March profit stood at 413 crore, up seven times as against 61 crore during the same period last year.

However, total income remained constant at 13,689 crore.

For the entire financial year 2020-21, net profit was up 26 per cent at 1,182 crore. Total income in FY21 dropped to 40,291 crore as compared to 44,086 crore in FY20.

"The financial year 2020-21 was impacted by one time exceptional loss of 259 crore and there was an exceptional gain of 199 crore in FY20," the company said in a statement.

Adani Enterprises Ltd is the flagship company of Adani Group. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses and divesting them into separate listed entities.

In April, the Adani Group became India's third conglomerate to cross 100 billion dollars in market capitalisation. The total market cap of the six listed Adani Group companies stood at more than 104 billion dollars, according to BSE data.

Earlier, Tata Group and Mukesh Ambani led-Reliance Group have achieved this milestone. Tata Group's current market cap is 242 billion dollars while RIL Group's m-cap is 190 billion dollars.

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