Adani Enterprises crosses Rs 1 trillion market capitalisation

Adani Enterprises
Adani Airports, a subsidiary of Adani Enterprises, last month completed the acquisition of a 23.5 per cent stake in Mumbai International Airport (MIAL)

Adani Enterprises joined the elite club of companies with Rs 1-trillion market capitalization (market-cap) on the BSE, after its share price hit a new high of Rs 911, rallying 4 per cent in intra-day trade on Wednesday.

With the market-cap of Rs 1 trillion, at 11:58 am, Adani Enterprises stood at number 39th position in the overall market-cap ranking, the BSE data shows.

Adani Enterprises is the flagship company of Adani Group and has a current portfolio of robust businesses. The next-generation of its strategic business investments are centred on the fields of solar PV manufacturing, airport management, technology parks, and water infrastructure.

Adani Enterprises became the third Adani Group company after Adani Green Energy (Rs 1.85 trillion market cap) and Adani Ports and Special Economic Zone (Rs 1.52 trillion market-cap) to achieve this feat.

Adani Airports, a subsidiary of Adani Enterprises, last month completed the acquisition of a 23.5 per cent stake in Mumbai International Airport (MIAL). MIAL is engaged in the business of development, construction and operation of Chhatrapati Shivaji Maharaj International Airport.

Adani Airports also won the mandate to modernize and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram for a period of 50 years through a globally competitive tendering process conducted by the Airports Authority of India (AAI). Of these, it took over the operations of Ahmedabad, Lucknow & Mangaluru in 2020.

Adani Enterprises and EdgeConneX, a global data centres operator with 50 facilities in 30 markets around the world, February 23, announced the establishment of a 50:50 joint venture. “The JV will develop and operate data centres throughout India, leveraging the two partners complementary expertise and capabilities,” the company said in a regulatory filing.

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