Adani Enterprises shares in news today on nod to issue of debentures

Shares of Adani Group's flagship firm Adani Enterprises are in news today after the firm said its management committee has approved the public issuance of non-convertible debentures amounting to up to Rs 400 crore, with an option to retain over-subscription up to Rs 400 crore, aggregating up to Rs 800 crore.

Adani Enterprises stock ended 2.26% higher at Rs 3108.05 on Friday. Market cap of the firm stood at Rs 3.54 lakh crore on BSE.

Total 0.44 lakh shares changed hands amounting to a turnover of Rs 13.52 crore on BSE.      

Adani Enterprises stock has a one-year beta of 1.9, indicating very high volatility during the period.  

In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 49.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading lower than the 5 day, 10 day, 50 day, 100 day, 150 day but higher than the 20 day, 30 day and 200 day moving averages.       

The stock has risen 7.26 per cent this year and gained 28% in a year.     

"We wish to inform you that the Management Committee of the Company at its meeting held on August 16, 2024 has inter alia approved and adopted the draft prospectus for public issuance of non-convertible debentures of face value of Rs 1,000 each amounting up to Rs 400 crores with an option to retain over-subscription up to Rs 400 crores, aggregating up to Rs 800 crores (“Draft Prospectus”) of the Company in connection with the Issue," said the firm.