Adani Enterprises now among top 10 most valued listed firms | The Financial Express

Adani Enterprises now among top 10 most valued listed firms

In the last six sessions, Adani Enterprises jumped 19.2%, while it advanced over 131.7% so far this year.

Adani Enterprises now among top 10 most valued listed firms
In the last six sessions, Adani Enterprises jumped 19.2%, while it advanced over 131.7% so far this year.

Adani Enterprises has entered the list of India’s top 10 most-valued listed firms after its shares rallied over 15% in the previous six sessions. Intra-day, the stock hit an all-time high of Rs 4,015 a share. At closing, the scrip settled at Rs 3,961 on the BSE, up 3.4% from its previous close. In the last six sessions, Adani Enterprises jumped 19.2%, while it advanced over 131.7% so far this year. In March 2020, the stock was trading around Rs 120 a share, and now it has surged over 3,200%.

Its market capitalisation stands at Rs 4.52 trillion. It is now ranked 10th among India’s most-valued firms. The surge in the stock came after it had reported better-then-expected earnings. The firm on Thursday reported a 117% jump in its net profit to Rs 460 crore for the September quarter, compared with Rs 212 crore a year ago. Revenue tripled to Rs 38,180 crore. Total cost rose 182% YoY to Rs 37,770 crore.

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Adani Enterprises debt-equity ratio improved to 0.32% for the quarter versus 0.66% last year. Gross debt for the quarter was at Rs 40,020 crore, against Rs 41,020 crore a quarter ago, according to its filing.

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The ports-to-power conglomerate has diversified operations into green energy, cement, airports, data centres and media.

Other Adani group stocks also rose so far this year. Adani Ports gained 17%, Adani Green Energy climbed 62%, Adani Transmission rallied 92%, Adani Total Gas jumped 121%, Adani Power gained 250% and Adani Wilmar jumped 190%.

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First published on: 08-11-2022 at 07:44 IST