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Adani Group shares gain; Adani Transmission hits new high

Adani Enterprises, Adani Ports and Adani Power were up in the range of 2% to 5% on BSE

SI Reporter  |  Mumbai 

Adani group takes a gamble on growth

Shares of companies – Adani Enterprises, Adani Transmissions, Adani Port and Special Economic Zone (SEZ) and Adani Power – have rallied by up to 13% on BSE in intra-day trade after Adani Australia said it reached agreement with the Queensland Government on royalty payments for its $16.5 billion Carmichael coal projects.

Among the individual stocks, Adani Enterprises surged 13% to Rs 125, on back of an over two-fold jump in trading volumes.

hit a new high of Rs 115.40, up 5% on BSE, followed by & SEZ (4% at Rs 342) and Adani Power (2% at Rs 27). On comparison, the S&P BSE Sensex was up 0.23% at 31,181 at 1:29 pm.

“After State Cabinet approval, the agreement with the State Government meets Adani’s expectations and requirements. This shows a strong commitment by the State Government to the project and is a benchmark decision to take this project forward”, Adani Enterprises said in a press release.

The Adani parent company board will consider the final investment decision at the next board meeting.

ADANI ENTERP. 120.50 111.30 8.3
ADANI TRANSMISSI 115.00 110.05 4.5
ADANI PORTS 341.45 328.30 4.0
ADANI POWER 27.45 26.80 2.4