Adani Enterprises, Adani Ports shares in news as promoter group entities raise stakes

Shares of Adani group flagship Adani Enterprises Ltd (AEL) and Adani Ports and Special Economic Zone Ltd will be in focus on Monday as data showed promoters bought additional stakes in the two companies over last couple of weeks.

In the case of Adani Enterprises, promoters upped stake by 2.06 percentage points between August 21 and September 7. They now own 71.93 per cent stake in Adani Enterprises against 69.87 per cent earlier. The name of acquirer included Kempas Trade and Investment and Infinite Trade & Investment.

Kempas Trade and Investment acquired 68,99,300 shares, or 0.61 per cent stake, between August 21 and August 22 while Infinite Trade and Investment bought 1,66,00,000 shares, or 1.46 per cent stake, in Adani Enterprises between August 30 and September 7.

On the other hand, promoters bought an additional 2.17 per cent stake in Adani Ports between August 14 and September 8, with their total holding standing at 65.23 per cent. Resurgent Trade and Investment bought 2,03,86,718 shares, or 0.94 per cent stake, in Adani Ports between August 14 and August 22. Another promoter entity Emerging Market Investment DMCC bought 2,65,00,00 shares, or 1.23 per cent stake, in Adani Ports between August 30 and September 8, a BSE filing showed.

Meanwhile, Adani Enterprises said Adani Global, Singapore, a step down wholly owned subsidiary of the Company has signed 50:50 joint venture agreement with Kowa Holdings Asia, Singapore in accordance with the terms of the agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory.

Disclaimer: Recommendations provided in this article and/ or any reports attached or relied on herein are authored by an external party. The views expressed herein are those of the respective authors/ entities, and do not represent the views of Business Today (BT). BT does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. BT further urges you to consult your financial adviser and seek independent advice regarding the contents herein, including stock investments, mutual funds, general market risks etc.

Also read: Stocks to watch on September 11, 2023: Reliance Industries (RIL), Natco Pharma, Landmark Cars, Oil India, Gujarat Gas, others