| Date: |
03-02-2015 |
| Subject: |
Adani scrip on fire, adds $3 billion market cap in January |
AHMEDABAD: The market cap of Adani Enterprises Ltd (AEL), the flagship company of Adani Group, jumped by a staggering Rs 10,300 crore ($1.66 billion) in last five trading sessions starting January 27, to reach Rs 71,993.57 crore. The rise of 10,300 crore or 16.69% has come at a time when the sensex dipped 1.51%.
The cumulative market capitalisation of all the three listed companies of Adani group — AEL, APSEZ and APL — stood at Rs 1,56,306 crore on Monday. Adani Port and SEZ (APSEZ) and Adani Power (APL) market cap on Monday was Rs 69,450.23 crore and Rs 14,862.20 crore, respectively.
In January, AEL's market cap has grown by Rs 18,213 crore (around $3 billion) or 33.86%. The company's market cap on January 1, stood at Rs 53,780 crore. On Monday, AEL's share closed at Rs 654.60 on BSE, up from Rs 560.95 on January 27 and Rs 489.20 on January 1.
Analysts attribute the recent corporate restructuring approved by AEL's board for the substantial rise in the company's share prices. The board of AEL on Friday last week approved demerger of AEL's port, power and transmission business and merger of mining company with AEL.
Source : timesofindia.indiatimes.com
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