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

Shares of Adani Group 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.

Adani Transmission hit a new high of Rs 115.40, up 5% on BSE, followed by Adani Ports & 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.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
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