Adani Enterprises hits fresh record high, surges 11% in 2 days

Adani Enterprises

Adani Enterprises(AEL) shares were up 3 per cent, on Wednesday, and touched a new high of Rs 1,461.45 in intra-day trade on the BSE, thus surging 11 per cent in the past two trading days. AEL has now excelled its previous high of Rs 1,335, hit in January 2008, before the restructuring of its businesses.

Currently, the flagship company of the Gautam Adani led-Adani Group company on a standalone basis has mainly integrated resources management (IRM) / coal trading, power trading and mining services businesses. AEL, on a consolidated basis, has diversified businesses which include solar cell and module manufacturing, agro-processing (including the sale of branded edible oil), commodities trading, bunkering (fueling) of ships and shipping. AEL, through its subsidiaries, has invested significant funds in coal mining and related rail evacuation infrastructure in Australia and is currently incubating new businesses like airports, road development, water treatment plant, data centres etc.

In order to enable the distinct focus of investors to invest in some of the key businesses and to lend greater/enhanced focus to the operation of the said businesses, in 2015, Adani Enterprises, the holding company of the Adani group, had restructured its businesses.

The port business of Adani Enterprises folded into Adani Ports Special Economic Zone Ltd (APSEZ) and its power business merged with Adani Power as part of the restructuring. The company demerged the transmission undertaking in Adani Transmission. In 2018, Adani Enterprises had demerged its renewable energy business into associate company Adani Green Energy and demerged gas sourcing and distribution business to Adani Gas as part of simplifying the overall business structure.