Adani Enterprises shares rise 6% on aerospace foray with Brazil's Embraer 

Shares of Adani Enterprises rose 6% in the afternoon session today after reports said  Adani Group and Brazil's Embraer SA would establish a regional transport aircraft venture in India. The venture would cover manufacturing, assembly, and increased localisation efforts, marking the Adani Group's foray into the sector.

Adani Enterprises stock rose 6% to Rs 1973.65 in the current session against the previous close of Rs 1862.80. Market cap of the firm rose to Rs 2.26 lakh crore. 

Total 2.54 lakh shares changed hands amounting to a turnover of Rs 49.38 crore on BSE.      

In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 22.1, signaling it's trading in the oversold zone. The stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.       

The stock has fallen 19 per cent in three months and lost 30% in two years.

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