Adani Enterprises spurts after block deal

Adani Enterprises jumped 5.57% to Rs 143 at 14:02 IST on BSE after a block deal of 42.6 lakh shares, or 0.39% equity, was executed in the counter on BSE at Rs 140.75 per share at 12:38 IST.

Meanwhile, the BSE Sensex was up 672.12 points, or 3.37%, to 20,634.28.

On BSE, 46.47 lakh shares were traded in the counter compared with average volume of 2.73 lakh shares in the past one quarter.

The stock hit a high of Rs 143.80 and a low of Rs 138 so far during the day. The stock hit a 52-week low of Rs 126.05 on 4 September 2013. The stock hit a 52-week high of Rs 296.90 on 19 December 2012.

The stock had underperformed the market over the past one month till 18 September 2013, sliding 15.40% compared with the Sensex's 7.33% rise. The scrip had also underperformed the market in past one quarter, sliding 27.29% as against Sensex's 3.84% rise.

The large-cap company has an equity capital of Rs 109.98 crore. Face value per share is Re 1.

On a consolidated basis, Adani Enterprises reported a net loss of Rs 278.30 crore in Q1 June 2013 compared with a net profit of Rs 402.88 crore in Q1 June 2012. Net sales rose 4.5% to Rs 11524.94 crore in Q1 June 2013 over Q1 June 2012.

Adani Enterprises is the flagship company of the Adani Group. The company is the largest private sector coal importer in India.

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