Adani Enterprises Ltd.

BSE: 512599 | NSE: ADANIENT
Large Cap | Trading
2247.85
-17.30 (-0.76%)
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Adani Enterprises advances on acquiring balance 49% stake in Chemoil-Adani

Date: 07-10-2015

Adani Enterprises is currently trading at Rs. 85.40, up by 1.20 points or 1.43% from its previous closing of Rs. 84.20 on the BSE.

The scrip opened at Rs. 84.90 and has touched a high and low of Rs. 86.40 and Rs. 84.20 respectively. So far 604151 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 803.90 on 26-May-2015 and a 52 week low of Rs. 65.85 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 86.50 and Rs. 78.75 respectively. The current market cap of the company is Rs. 9375.88 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 14.43% and 10.57% respectively.

Adani Enterprises has acquired balance 49% stake in Chemoil-Adani, which was a jointly-owned bunker supplier that supplied bunker fuel to vessels in Mundra and other ports in India. Chemoil Energy (Chemoil), a subsidiary of Glencore, has sold to Adani its 49% interest in Chemoil-Adani.

Going forward, Chemoil will no longer be associated with the business, which will be fully-owned and managed by Adani and renamed as Adani Bunkering.

Adani Enterprises 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.