Adani Enterprises on Thursday announced its entry into the copper business by incorporating a wholly-owned subsidiary, Kutch Copper (KCL).
KCL is incorporated with the object to undertaking Copper business related activities such as manufacture of copper cathodes and copper rods, etc.KCL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 24 March 2021 and is yet to commence its business operations.
KCL has an authorised share capital and paid-up share capital of Rs 1 lakh each. The announcement was made after market hours yesterday, 25 March 2021.
Shares of Adani Enterprises rose 0.86% to Rs 990 on BSE. Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.
Adani Enterprises' consolidated net profit skid 11.1% to Rs 286.60 crore on 6.1% rise in net sales to Rs 11,620.45 crore in Q3 December 2020 over Q3 December 2019.
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