Adani Enterprises dives 80% on news of demerger

Shares of Adani Enterprise have plunged 80% to Rs 124 on the Bombay Stock Exchange (BSE) on reports stating that the company separated its port and power arm and merged them with Adani Ports and Adani Power business.

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.

The stock opened at Rs 574, touched a low of Rs 116.50 on the BSE. At 9.45 AM, a total of 3,197,373 shares changed hands on the BSE so far.