Volume Shocker: Adani Enterprises

A combined 15.01 million shares representing 6% of free-float equity of the company have changed hands on the counter so far

Adani Enterprises has moved higher by 5% to Rs 233 on back of over six-fold jump in trading volumes. A combined 15.01 million shares representing 6% of free-float equity of the company have already changed hands on the counter so far, against an average 2.2 million shares that were traded daily in past two weeks on both the exchanges.

The stock opened at Rs 224 have bouncing back almost 6% from day’s low of Rs 220 on the National Stock Exchange.

According to Reuters report, Adani Enterprises and Australian rail operator QR National plan to work together to study building a $6 billion rail line from Adanis Queensland coal project to the Pacific Ocean.