Adani Enterprises drops after 12.2% rally in 2 days

capital market | Mumbai |

Adani Enterprises lost 1.87% to Rs 254.50 at 13:27 IST on BSE, with the stock sliding on profit booking after 2-day 12.24% rally.

Meanwhile, the BSE Sensex was down 20.15 points or 0.1% at 19,285.17.

On BSE, 6.66 lakh shares were traded in the counter as against average daily volume of 7.64 lakh shares in the past one quarter.

The stock hit a high of Rs 266.50 and a low of Rs 251.85 so far during the day. The stock had hit a 52-week low of Rs 151.70 on 31 August 2012. The stock had hit a 52-week high of Rs 455.75 on 20 January 2012.

The stock had outperformed the market over the past one month till 3 December 2012, surging 15.19% compared with the Sensex's 2.93% rise. The scrip had also outperformed the market in past one quarter, jumping 65.09% as against Sensex's 11.05% surge.

The large-cap company has equity capital of Rs 109.98 crore. Face value per share is Re 1.

Shares of Adani Enterprises had rallied 12.24% in two trading sessions to settle at Rs 259.35 on Monday, 3 December 2012, from a recent low of Rs 231.05 on 29 November 2012.

Adani Enterprises' consolidated net profit fell 42.1% to Rs 320.21 crore on 1.8% growth in net sales to Rs 10261.85 crore in Q2 September 2012 over Q2 September 2011.

Adani Enterprises is the flagship company of the Adani Group. The company is the largest private sector coal importer in India.

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