1. Adani Enterprises shares surge over 7% on winning mining lease in Australia

Adani Enterprises shares surge over 7% on winning mining lease in Australia

Adani Enterprises share price gained over 7 per cent intraday on reports that the company's $21.7 billion coal mine project in Australia won three mining leases.

By: | New Delhi | Updated: April 4, 2016 4:16 PM
adani enterprises share price, BSE sensex, nse nifty Adani Enterprises share price gained over 7 per cent intraday on reports that the company’s .7 billion coal mine project in Australia won three mining leases. (Express Photo)

Adani Enterprises share price gained over 7 per cent intraday after the company’s $21.7 billion coal mine project in Australia won three mining leases.

At 12.02 pm, shares of Adani Enterprises were trading 6.51 per cent up at Rs 80.95. The scrip opened at Rs 79.30 and has touched a high and low of Rs 81.95 and Rs 79, respectively, in trade so far. Later, the scrip closed 5.86 per cent up at Rs 80.45.

Meanwhile, the BSE has sought clarification from Adani Enterprises with reference to news reported in a business daily- “Queensland govt grants Adani Group mining lease”.

Adani’s 21.7 billion dollars coal mine project in Australia on Sunday won three mining leases but the Indian mining giant said a final decision on investment will be taken only after the resolution of “politically-motivated” legal challenges against its plans to build one of the world’s largest coal mines.

For the quarter ended December 2015, the company reported a consolidated net profit of Rs 195.79 crore, down 55.89 per cent, against Rs 443.85 crore in the corresponding quarter a year ago.

In the past one year, the share price of the company slid 87.60 per cent to Rs 76 on April 1, 2016, whereas BSE Sensex dipped 10.58 per cent during the same period.

(With agency inputs)

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