Adani Group shares hit 52-week high
Shares of Adani Group companies are in focus with all four listed companies – Adani Ports and Special Economic Zone, Adani Enterprises, Adani Power and Adani Transmission – trading at their respective 52-week highs on the BSE.
Of these Adani Transmission hit a record high of Rs 72.50 since its listing, while Adani Ports was up 3.4% at Rs 353, is 6% away from its all-time high of Rs 375 touched in August 2015.
Adani Ports yesterday said that as of 31st March, 2017, the company has received back the entire outstanding loans, advances and deposits (excluding other normal business deposits) of Rs 3,500 crore given to related parties.
Company 30/12/2016 LTP % chg Adani Enterp. 76.45 114.90 50.3 Adani Power 30.10 42.35 40.7 Adani Ports 268.10 355.00 32.4 Adani Trans 56.50 72.00 27.4 S&P BSE Sensex 26626 29918 12.4 LTP : Last traded price on BSE at 11:24 am
Adani Transmission has rallied 13% in past two trading sessions after the company on Monday announced that it has received the three Letter of Intents (LOIs) from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam) to construct, own, operate and maintain three transmission projects in the state of Rajasthan.
“With these Projects, the company will strengthen its existent significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company) and Suratgarh Bikaner project, which is under construction," Adani Transmission said in a press release.
With completion of all ongoing projects and acquisition of Reliance Infra’s operational transmission assets along with these three projects, the network of Adani Transmission is expected to surpass 11000 ckt kms, it added.
Meanwhile, thus far in the calendar year 2017, all these four stocks have outperformed the market by gaining in the range of 27% to 50% as compared to 12.3% rise in the S&P BSE Sensex.
LATEST 52 WK HIGH PREV HIGH PREV DATE ADANI ENTERP. 114.25 115.20 112.00 03-Apr-17 ADANI PORTS 353.60 355.00 343.40 03-Apr-17 ADANI POWER 42.25 42.50 41.30 07-Mar-17 ADANI TRANSMISSI 72.00 72.50 70.25 03-Apr-17