Adani Enterprises now among top 10 most valued listed firms

Adani Enterprises now among top 10 most valued listed firms

Adani Enterprises has entered the list of India’s top 10 most-valued listed firms after its shares rallied over 15% in the previous six sessions. Intra-day, the stock hit an all-time high of Rs 4,015 a share. At closing, the scrip settled at Rs 3,961 on the BSE, up 3.4% from its previous close. In the last six sessions, Adani Enterprises jumped 19.2%, while it advanced over 131.7% so far this year. In March 2020, the stock was trading around Rs 120 a share, and now it has surged over 3,200%.

Its market capitalisation stands at Rs 4.52 trillion. It is now ranked 10th among India’s most-valued firms. The surge in the stock came after it had reported better-then-expected earnings. The firm on Thursday reported a 117% jump in its net profit to Rs 460 crore for the September quarter, compared with Rs 212 crore a year ago. Revenue tripled to Rs 38,180 crore. Total cost rose 182% YoY to Rs 37,770 crore.

Adani Enterprises debt-equity ratio improved to 0.32% for the quarter versus 0.66% last year. Gross debt for the quarter was at Rs 40,020 crore, against Rs 41,020 crore a quarter ago, according to its filing.

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The ports-to-power conglomerate has diversified operations into green energy, cement, airports, data centres and media.

Other Adani group stocks also rose so far this year. Adani Ports gained 17%, Adani Green Energy climbed 62%, Adani Transmission rallied 92%, Adani Total Gas jumped 121%, Adani Power gained 250% and Adani Wilmar jumped 190%.