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Adani Enterprises ties up with Tamil Nadu Govt for data centre

Capital Market 

Adani Enterprises on Monday said that it signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu for exploring possibilities of setting up hyperscale data center facility in the state.

The company clarified that it will announce any such development as and when any concrete decision is reached in such matters after evaluation. The announcement was in response to the clarification sought by the BSE on a news report that Tamil Nadu has inked 16 pacts for Rs 5,137 crore investment.

The scrip was currently up 0.36% at Rs 166.35. It traded in the range of 163.70 and 167.80 so far during the day.

The stock has risen 3.63% in the past one month, underperforming the S&P BSE 200 index, which rose 7.09% during the same period.

Adani Enterprises (AEL) has a diversified business portfolio comprising integrated coal management and mining services, solar modules manufacturing as well as edible oil business.

The company's consolidated net profit slumped 78.4% to Rs 61.21 crore on 1.5% increase in net sales to Rs 13,428.83 crore in Q4 March 2020 over Q4 March 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 28 2020. 11:56 IST