 "Adani, Adani Group")
Shares of Adani Enterprises, the flagship company of Adani Group, were up 4 per cent to Rs 1,975 on the BSE in Thursday’s intra-day trade after the company said it's board will hold a meeting on May 13 to approve a proposal to raise funds.
The board will consider raising funds by way of issuance equity shares or other eligible securities through a private placement, a qualified institutions placement, or a preferential issue, among other methods, the company said in a statement.
Other two Group firms, Adani Green Energy and Adani Transmission will consider fund raise same day as well. Shares of Adani Green Energy (Rs 924) and Adani Transmission (Rs 908) were up 2 per cent each on the BSE in intra-day trade.
Also Read
Meanwhile, for January-March quarter (Q4FY23), Adani Enterprises reported a strong 157 per cent year-on-year (YoY) jump in EBIDTA (earnings before interest, taxes, depreciation, and amortization) to Rs 3,957 crore due to better operating performance across businesses.
Total Income increased by 26 per cent YoY to Rs 31,716 crore on account of strong performance by IRM (Integrated Resources Management) and Airports business. Attributable profit after tax increased by 137 per cent YoY to Rs 722 crore in line with increased EBIDTA, Adani Enterprises said in a statement.
The next generation of Adani Enterprises strategic business investments are centered around green hydrogen ecosystem, airport management, roads, data center and primary industry like copper and petrochem all of which have significant scope for value unlocking.
