Adani Enterprises gains after Cabinet approves leasing out for 3 airports

Cabinet has approved the Ministry of Civil Aviation’s proposal to privatize three out of six state airports on Wednesday.

Jul 04, 2019 08:07 IST India Infoline News Service

Shares of Adani Enterprises gained 1% on the BSE in afternoon trade after the Cabinet has approved the Ministry of Civil Aviation’s proposal to privatize three out of six state airports on Wednesday.

Cabinet has approved the proposal for leasing out of three airports viz. Ahmedabad, Lucknow, and Mangaluru of Airports Authority of India (AAI) through Public Private Partnership (PPP) to the highest bidder i.e. Adani Enterprises Ltd. who quoted the highest bid for these airports, for operation, management and development under PPP for a lease period of 50 years as per the terms and conditions of the bid documents.

Adani Enterprises Ltd is currently trading at Rs155 on the BSE. The scrip opened at Rs160.80 and has touched a high and low of Rs161.75 and Rs154.20 respectively.

The BSE group 'A' stock of face value Rs1 has touched a 52 week high of Rs180.70 on 23-May-2019 and a 52 week low of Rs73.13 on 03-Jul-2018. Last one week high and low of the scrip stood at Rs158.15 and Rs148.05 respectively.

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