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The Adani Enterprises board of directors on Tuesday gave its nod to the $16.5-billion Carmichael mine and railway project in central Queensland, Australia, which had faced several roadblocks over environmental concerns.
The announcement came a few days after the Adani Group agreed to pay royalties on the coal produced from its project, in an agreement with the Queensland government.
The markets reacted positively to these developments, with Adani Enterprises stock on the BSE jumping 8.6 per cent, or Rs 10.15 per share, to close at Rs 127.8 on Tuesday. It had touched an intra-day high of Rs 128.4.
A previous
