Adani Enterprises extends gain in a weak market; up 21% in 5 days

Adani Enterprises and French energy giant Total SA Wednesday announced a partnership to develop liquefied natural gas import terminals and fuel retailing network in India.

Shares of Adani Enterprises moved higher by 4% to Rs 167.80, extending its 17% surge in past four trading days in an otherwise weak market, after the company and French energy giant Total SA announced a partnership to develop liquefied natural gas (LNG) import terminals and fuel retailing network in India.

“Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market. The diversified portfolio includes LNG and fuel retail,” Adani Enterprises said in a press release on Wednesday after market hours.

The partnership has set a target of developing various regasification