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Adani Enterprises advances on appointing consulting firm for Australian coal project

29 Oct 2014 Evaluate

Adani Enterprises is currently trading at Rs. 467.00, up by 2.90 points or 0.62 % from its previous closing of Rs. 464.10 on the BSE.

The scrip opened at Rs. 465.00 and has touched a high and low of Rs. 471.00 and Rs. 461.00 respectively. So far 44430 shares were traded on the counter.

The BSE group 'A' stock of face value Re. 1 has touched a 52 week high of Rs. 585.00 on 16-May-2014 and a 52 week low of Rs. 199.10 on 31-Oct-2013.

Last one week high and low of the scrip stood at Rs. 478.00 and Rs. 459.75 respectively. The current market cap of the company is Rs. 51306.14 crore.

The promoters holding in the company stood at 75.00 % while Institutions and Non-Institutions held 21.59 % and 3.41 % respectively.

Adani Enterprises has reportedly appointed Parsons Brinckerhoff as consulting firm to manage contract reviews for its long-delayed $6.2 billion coal mine, rail and port project as it looks to start production by the end of 2017. The consultant would provide quality control and audit services for engineering, procurement and construction contracts, in the latest sign Adani is trying to push ahead with a mine it originally aimed to open this year.

With coal prices at five-year lows and up to a third of all Australian production running at a loss, much bigger companies than Adani, like BHP Billiton and Glencore, have shelved new coal projects in Australia.

Earlier this year, the company lined up South Korea’s POSCO Engineering & Construction Company to build the rail line for the Carmichael mine and bought out royalty rights on the coal from Linc Energy.

Adani Enterprises, the flagship company of the Adani Group, is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.b

Adani Enterprises Share Price

2225.25 -2.75 (-0.12%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Redington 227.35
Adani Enterprises 2225.25
Amrapali Industries 17.27
Rashi Peripheral 474.40
PDS 291.45
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