Adani Enterprises Surges 3% as Subsidiary Targets Duty-Free Market in Macau

21 Nov 2023 , 11:27 AM

Adani Enterprises stock surges 3% on November 21 after subsidiary, Mumbai Travel Retail Pvt, incorporates wholly-owned subsidiary MTRPL Macau. MTRPL Macau formed for bidding on duty-free liquor and tobacco shops at Macau International Airport, according to regulatory filing.

Mumbai Travel Retail owns 100% of MTRPL Macau with an authorized share capital of MOP $25,000 (about Rs 2.5 lakh). Registration process for MML completed on November 20, adding to Adani Group’s diverse portfolio.

Application filed in Supreme Court against SEBI for delay in Adani-Hindenburg investigation. Supreme Court had set August 14, 2023, as the deadline for SEBI to submit a report on allegations by Hindenburg Research.

SEBI claims completion of the probe into all but two allegations against Adani Group. Shortseller’s report triggered stock price crash in January; recovery observed since then.

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