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Adani Enterprises trades ex-date to spin off its renewable energy biz

The stock surged 12% to Rs 148 on the BSE on back of heavy volumes

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SI Reporter Mumbai
Adani Enterprises surged 12% to Rs 148 on the BSE on back of heavy volumes. The stock of Adani Group Company turned ex-date to spin off its renewable sector business with effect from today.

At 10:23 am; the stock was up 11% at Rs 147 on the BSE, as compared to 1.4% rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 12.81 million shares changed hands on the BSE and NSE so far.

In October last year Adani Enterprises had announced to demerge its renewable energy business into associate company