Adani Enterprises share price soars over 11% after Australia clears $7 bn Carmichael project

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Updated: October 15, 2015 10:21:26 AM

After the Australian environment ministry cleared Adani's $7 billion Carmichael coal mine and rail project early in the morning, shares of Adani group companies gained in early trade on Thursday.

Adani group adani port adani enterprises After the Australian environment ministry cleared Adani’s billion Carmichael coal mine and rail project early in the morning, shares of Adani group companies gained in early trade on Thursday. (Express Photo)

After the Australian environment ministry cleared Adani’s $7 billion Carmichael coal mine and rail project early in the morning, shares of Adani group companies gained in early trade on Thursday.

At 9.54 am, Adani Enterprises share price was up 11.14 per cent at Rs 94.30. The scrip opened at Rs 84.60 and had touched a high and low of Rs 95.80 and Rs 84.60, respectively, in trade so far. Sensex was up 198 points at 26,977.63.

Adani Power and Adani Ports were up 3.74 per cent and 1.79 per cent at Rs 29.10 and Rs 330, respectively.

According to reports, Adani Group said on Thursday it had won Australian government approval to build its massive Carmichael mine and rail project after clearing environmental concerns. A court on August 5 had temporarily blocked progress on the A$10 billion ($7.34 billion) project in the inland Galilee Basin following a claim Adani failed to include conditions to protect two vulnerable species.

(With inputs from Reuters)

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