Adani Enterprises declines 15% in three days

Adani Power hit 52-week low of Rs 38.45, while Adani Ports down 1% at Rs 321 on the NSE.

Shares of Adani Enterprises were trading lower by 5% to Rs 673, extending its 10% fall in past two trading sessions on the BSE, ahead of restructuring of the business.

Adani Enterprises has fixed June 4 as the record date for the scheme of arrangement and demerger involving Adani Enterprises, Adani Power and Adani Port & Special Economic Zone.

Upon the Scheme becoming effective and in consideration of the demerger and transfer of port undertaking, power undertaking and transmission undertaking of Adani Enterprises in Adani Ports and Special Economic Zone, Adani Power and Adani Transmission respectively. Once the restructuring is complete, Adani Enterprises would be left with mining operations.

Meanwhile, shares of Adani Power hit 52-week low of Rs 38.40 on BSE in intra-day trade, was down 1% at Rs 38.70.  Adani Ports too, down 1% at Rs 321 after hitting low of Rs 315 in early morning trade.