Adani Enterprises shares in focus as firm raises Rs 1,250 crore
Adani Enterprises share price today: Adani Enterprises stock ended 0.48% higher at Rs 2421.80 against the previous close of Rs 2410.15 on BSE. The stock is down 37 per cent this year and gained 2.12% in a year.
- Jul 12, 2023,
- Updated Jul 12, 2023 8:43 AM IST
Shares of Adani Enterprises Ltd are in focus today after the flagship firm of the Adani Group said it has raised Rs 1,250 crore via allotment of 125,000 secured, unrated, unlisted, redeemable, non-convertible debentures. Adani Enterprises stock ended 0.48% higher at Rs 2421.80 against the previous close of Rs 2410.15 on BSE. The stock is down 37 per cent this year and gained 2.12% in a year.
Adani Enterprises stock opened marginally higher at Rs 2420 on BSE. Adani Enterprises’ market cap rose to Rs 2.76 lakh crore in the previous session. Total 0.94 lakh shares changed hands amounting to a turnover of Rs 22.88 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 56.3, signaling it's trading neither in the overbought nor in the oversold zone. Adani Enterprises stock has a one-year beta of 2.1, indicating very high volatility during the period. The stock stands higher than the 10 day, 20 day, 50 day, 100 day but lower than the 150 and 200 day moving averages.
The company did not state the purpose of raising the funds in its stock exchange filing late evening.
Care and India Ratings has rated long-term debt facilities of Adani Enterprises A+ with a negative outlook. Meanwhile, its short-term facilities have been rated A1+ by Care.
Of late, the conglomerate has been raising both equity and debt capital as its promoters look to develop a 'liquidity cushion' to help with expansion and loan servicing.
In May this year, Adani Enterprises and Adani Transmission announced plans to raise a cumulative Rs 21,000 crore. Out of the total, Adani Enterprises will raise Rs 12,500 crore, while Adani Transmission will raise Rs 8,500 crore.
On July 6, the board of Adani Green Energy cleared the proposal to raise Rs 12,300 crore through a qualified institutional placement route .
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Shares of Adani Enterprises Ltd are in focus today after the flagship firm of the Adani Group said it has raised Rs 1,250 crore via allotment of 125,000 secured, unrated, unlisted, redeemable, non-convertible debentures. Adani Enterprises stock ended 0.48% higher at Rs 2421.80 against the previous close of Rs 2410.15 on BSE. The stock is down 37 per cent this year and gained 2.12% in a year.
Adani Enterprises stock opened marginally higher at Rs 2420 on BSE. Adani Enterprises’ market cap rose to Rs 2.76 lakh crore in the previous session. Total 0.94 lakh shares changed hands amounting to a turnover of Rs 22.88 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 56.3, signaling it's trading neither in the overbought nor in the oversold zone. Adani Enterprises stock has a one-year beta of 2.1, indicating very high volatility during the period. The stock stands higher than the 10 day, 20 day, 50 day, 100 day but lower than the 150 and 200 day moving averages.
The company did not state the purpose of raising the funds in its stock exchange filing late evening.
Care and India Ratings has rated long-term debt facilities of Adani Enterprises A+ with a negative outlook. Meanwhile, its short-term facilities have been rated A1+ by Care.
Of late, the conglomerate has been raising both equity and debt capital as its promoters look to develop a 'liquidity cushion' to help with expansion and loan servicing.
In May this year, Adani Enterprises and Adani Transmission announced plans to raise a cumulative Rs 21,000 crore. Out of the total, Adani Enterprises will raise Rs 12,500 crore, while Adani Transmission will raise Rs 8,500 crore.
On July 6, the board of Adani Green Energy cleared the proposal to raise Rs 12,300 crore through a qualified institutional placement route .
Also read: PVR Inox shares in focus as clarity emerges on F&B GST in cinema halls ,
Also read: Nazara, Delta Corp shares in focus as GST Council announces 28% GST on online gaming, casinos