Adani Enterprises shares gain on Rs 4,081 crore ropeway project win; key details
On Tuesday, Adani Enterprises shares climbed as much as 1.5 per cent to hit a day’s high of Rs 2,419.60 on the BSE, compared with the previous close of Rs 2,383.10.
- Sep 16, 2025,
- Updated Sep 16, 2025 9:50 AM IST
Shares of Adani Enterprises Ltd rose in Tuesday’s trade after the company said it has received a Letter of Award (LoA) from National Highways Logistics Management Ltd (NHLML) to develop a ropeway project connecting Sonprayag to Kedarnath.
In a filing to the stock exchanges on Monday, after market hours, the company said it will invest Rs 4,081 crore in the 12.9 km ropeway, which will be developed under its Roads, Metro, Rail, and Water (RMRW) division. The project is part of the Centre’s National Ropeways Development Programme – Parvatmala Pariyojana and will be built under the public-private partnership (PPP) model on a revenue-share basis with NHLML
On Tuesday, Adani Enterprises shares climbed as much as 1.5 per cent to hit a day’s high of Rs 2,419.60 on the BSE, compared with the previous close of Rs 2,383.10. At 9:38 am, the stock was up 0.65 per cent at Rs 2,398.50, valuing the company at Rs 2.76 lakh crore. The counter is trading nearly 18 per cent above its 52-week low of Rs 2,026.90.
Once operational, the ropeway will reduce the current 8–9 hour trek to just 36 minutes, with a capacity to transport 1,800 passengers per hour in each direction. Kedarnath attracts nearly 20 lakh pilgrims annually, making the project a significant boost to religious tourism and connectivity. The company said the project is expected to take six years to complete, after which Adani Enterprises will operate it for 29 years
Calling the ropeway “more than an engineering project,” Gautam Adani, Chairman of the Adani Group, said, “By making this sacred journey safer, faster and more accessible, we honour the faith of millions while creating new opportunities for Uttarakhand’s people through our partnership with NHLML and the Government of Uttarakhand.”
On the technical charts, Adani shares are placed above their 5-, 10-, 20-, 30- and 150-day simple moving averages (SMAs) but below 50-, 100-day and 200-day SMAs. With a one-year beta of 1.6, the counter has exhibited high volatility over the past year.
Shares of Adani Enterprises Ltd rose in Tuesday’s trade after the company said it has received a Letter of Award (LoA) from National Highways Logistics Management Ltd (NHLML) to develop a ropeway project connecting Sonprayag to Kedarnath.
In a filing to the stock exchanges on Monday, after market hours, the company said it will invest Rs 4,081 crore in the 12.9 km ropeway, which will be developed under its Roads, Metro, Rail, and Water (RMRW) division. The project is part of the Centre’s National Ropeways Development Programme – Parvatmala Pariyojana and will be built under the public-private partnership (PPP) model on a revenue-share basis with NHLML
On Tuesday, Adani Enterprises shares climbed as much as 1.5 per cent to hit a day’s high of Rs 2,419.60 on the BSE, compared with the previous close of Rs 2,383.10. At 9:38 am, the stock was up 0.65 per cent at Rs 2,398.50, valuing the company at Rs 2.76 lakh crore. The counter is trading nearly 18 per cent above its 52-week low of Rs 2,026.90.
Once operational, the ropeway will reduce the current 8–9 hour trek to just 36 minutes, with a capacity to transport 1,800 passengers per hour in each direction. Kedarnath attracts nearly 20 lakh pilgrims annually, making the project a significant boost to religious tourism and connectivity. The company said the project is expected to take six years to complete, after which Adani Enterprises will operate it for 29 years
Calling the ropeway “more than an engineering project,” Gautam Adani, Chairman of the Adani Group, said, “By making this sacred journey safer, faster and more accessible, we honour the faith of millions while creating new opportunities for Uttarakhand’s people through our partnership with NHLML and the Government of Uttarakhand.”
On the technical charts, Adani shares are placed above their 5-, 10-, 20-, 30- and 150-day simple moving averages (SMAs) but below 50-, 100-day and 200-day SMAs. With a one-year beta of 1.6, the counter has exhibited high volatility over the past year.