Adani Enterprises spurts after partnering US firm for India's data center

Adani Enterprises (AEL) announced partnership with San Francisco-based Digital Realty to build India's data center infrastructure.

Shares of AEL rose 6.54% to trade at Rs 195.40. The stock hit a high of Rs 195.4 and a low of Rs 182.6 so far during the day.

According to the memorandum of understanding (MoU) signed between Adani Enterprises and Digital Realty, they will jointly evaluate developing and operating data centers, data center parks and cultivating undersea cable provider communities of interest across India.

The collaboration aims to leverage Digital Realty's extensive experience and industry leading solutions for their global data center customer base along with Adani's expertise in full-stack energy management, renewable power, and real estate development and management.

Digital Realty supports the data center, colocation and interconnection strategies of more than 2,000 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Latin America, Asia and Australia.

Adani Enterprises' consolidated net profit jumped 254.9% to Rs 601.20 crore on 39.74% rise in net sales to Rs 10561.37 crore in Q1 June 2019 over Q1 June 2018.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates. AEL is a fast-growing company with a diversified business portfolio comprising integrated coal management and coal mining, solar modules manufacturing as well as edible oil business.

Powered by Capital Market - Live News