Adani Enterprises receives LoAs from NHAI; stock gains 3%

The company has received LoA for two road projects in Telangana.

Mar 12, 2019 06:03 IST India Infoline News Service

Adani Green Energy
Shares of Adani Enterprises were trading 3% higher on Tuesday after the company received Letter of Awards (LoAs) for two hybrid annuity road projects from National Highway Authority of India (NHAI) in Telangana.

Of the total, a project worth Rs1,041.40cr has been awarded for Four Laning of NH-363 from Mancherial (Design Km 0.000/Existing Km 251.900) to Repallewada (Design Km 42.000/Existing Km 288.510) (Design Length = 42.000 Km) in Telangana under NHDP PhaseIV under NH (0) on Hybrid Annuity Mode, the company said in a press note to the exchanges on Tuesday.

Another order worth Rs1,217.32cr has been received for four Laning of the Suryapet (Design Ch.0.420/ Existing Km 128.500 of NH-65) to Khammam (Design Ch.59.046/Existing Km. 50.750 of old SH42) of NH-365BB (Old SH-42) (Design Length - 58.626 Km) in Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode.

Adani Enterprises Ltd's share price is currently at Rs144.10, up by Rs4.95 or 3.56%, from its previous close of Rs139.15 on the BSE.
The scrip opened at Rs140.50 and has touched a high and low of Rs145.70 and Rs140.45, respectively. So far, 46,41,024 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs15,303.72cr.

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