Adani Enterprises Stock Gains Over 3%

Adani Enterprises stock sees a surge ahead of Q2 results.

Opening Strong

The stock opened at ₹2,247 per share, surpassing its previous closing price of ₹2,217.

The stock hit an intraday high of ₹2,297.95, marking a 3.45% increase.

Intraday High

Yearly Performance

Despite the recent gain, the shares have lost nearly 41% of their value this year.

Adani Enterprises reported a 44% YoY increase in its consolidated net profit, reaching ₹677 crore.

Q1FY24 Performance

A Drop in Revenue

The company's revenue from operations dropped by 37% YoY, largely impacted by the decline in coal prices.

New Ventures

Adani Global announced a joint venture with Kowa Holdings for the sales and marketing of green ammonia, green hydrogen, and their derivatives.

Stake Changes

Foreign portfolio investors reduced their stake in Adani Enterprises to 14.5%, while the company's promoters increased their stake to 72.61%.

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