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Adani Enterprises Ltd shares is the flagship company of Gautam Adani-led Group companies, hit a fresh record high of Rs 1,390 apiece on the BSE after they rallied 5.6 per cent in Tuesday’s intra-day session. It surpassed its previous record high of Rs 1,350.5 touched on May 19, 2021. The stock of the firm was ruling 5 per cent higher at Rs 1,389 per share as against a 0.08 per cent gain in the benchmark S&P BSE Sensex.
In the month of May, shares of the Adani Group firm outperformed the benchmark index and surged 13.6 per cent on the BSE compared with a 6.5 per cent gain in the Sensex index. The sharp rally, which came on the back of a healthy March quarter performance, has resulted in the company’s market capitalization (m-cap) touching the Rs 1.52-trillion mark, BSE data shows.
In Q4FY21, Adani Enterprises reported a 282.2 per cent rise in consolidated net profit at Rs 233.95 crore compared with a consolidated net profit of Rs 61.21 crore in the year-ago period. The consolidated income of the company during the January-March quarter was at Rs 13,688.95 crore as compared with Rs 13,698.09 crore in the year-ago period, the company had said in an exchange filing.
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The company had further said that, on the consolidated basis, the company’s PAT (Profit Before Tax) attributable to owners (before exceptional item) increased to almost seven times at Rs 413 crore relative to Rs 61 crore YoY due to higher Ebitda (earnings before interest, taxes, depreciation, and amortization).
Stock Covered in the news
