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Adani Enterprises share hits all-time high after firm wins Rs 1,169-crore project from NHAI

BusinessToday.In     April 5, 2021

Adani Enterprises share rose nearly 4% today after the Adani Group firm said it won a Rs 1,169.10 crore highway project in Odisha from the National Highways Authority of India (NHAI). The contract has been awarded to Adani Enterprises' wholly-owned subsidiary Adani Road Transport Ltd (ARTL).

The large cap share touched an all time high of Rs 1150.2, rising 3.87% against previous close of  Rs 1,107 on BSE. The stock has gained 7.89% in the last 2 days. The stock opened with a gain of 2.05% today at Rs 1,129.95 on BSE.

Adani Enterprises share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has climbed 762% in one year and 132% since the beginning of this year. Market cap of the firm rose to Rs 1.22 lakh crore.

"ARTL has received a letter of award (LOA) for the below mentioned road project in Odisha: Development of Six Lane Badakumari -  Karki Section of NH-130-CD Road from km 179 plus 000 to km 226 plus 500 under Raipur-Visakhapatnam Economic Corridor in Odisha on HAM (Package -  0D-3)," Adani Enterprises said in a filing.

In another update, the company along with its wholly owned subsidiary company, Gare Palma II Collieries Private Limited inked a coal mining pact with Maharashtra State Power Generation Company.

Adani Enterprises along with its subsidiary company, Gare Palma II Collieries Private Limited has signed coal mining agreement with Maharashtra State Power Generation Company (MAHAGENCO) for development and operation of Gare Palma Sector II coal mine.

The coal ministry had allocated the coal mine in Raigarh district of Chhattisgarh to MAHAGENCO in 2015, Adani Enterprises said in a filing to BSE on April 2.

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