Adani Enterprises up 6% after winning mining leases in Australia

Shares of Adani Enterprises surged nearly 6% today after the company's $21.7 billion coal mine project in Australia won three mining leases.

Trimming early gains, the stock closed at Rs 80.45 on BSE, up 5.86% over its previous close. Intra-day, it gained as much as 7.82% to trade at Rs 81.95.

On NSE, shares of the firm went up 5.85% to settle at Rs 80.55. Intra-day, the shares soared by 7.55% and were trading at 81.85.

Total 70,13,011 shares changed hands on NSE.

Adani's $21.7 billion coal mine project in Australia yesterday won three mining leases but the Indian mining giant said a final decision on investment will be taken only after the resolution of "politically-motivated" legal challenges against its plans to build one of the world's largest coal mines.

Queensland minister for Natural Resources and Mines Anthony Lynham approved the individual lease grantfor 70441Carmichael,70505 Carmichael Eastand 70506Carmichael North,which are estimated to contain 11 billion tonnes of thermal coal.

According to state Premier Annastacia Palaszczuk, the approvals had undergone "extensive government and community scrutiny" and were a step towards securing jobs for region, with more than 5,000 jobs expected to be generated during construction and more than 4,000 during operation.

Adani Group founder and Chairman Gautam Adani had said, "today is an important milestone in our company's plan to build a long term future with Queensland, and Australia.