Adani Enterprises Shares Surge Nearly 9%, Reach 52-Week High Amid Block Deal Worth Rs 1,435 Crore

Adani Enterprises Hits 52-Week High, Shares Rise 9% Amid Block Deal

On Thursday, Adani Enterprises shares surged nearly 9 percent to reach a 52-week high, driven by a likely block deal worth Rs 1,435 crore. The stock climbed 8.89 percent to Rs 2,720 per share on the National Stock Exchange (NSE), emerging as the top gainer on the Nifty50 index. This follows a significant gain of over 12 percent in the last two trading sessions.

The company's market valuation rose to Rs 3,51,265.76 crore. A block deal of 58.92 lakh shares of Adani Enterprises worth Rs 1,435 crore was executed in the block deal window at Rs 2,435.6 apiece, according to exchange data reported by CNBC-TV18. The official buyers and sellers of the shares are not yet known.

As of the March quarter, the promoters held a significant 74.67 percent stake in the company, while public shareholders owned 25.33 percent. Among public shareholders, domestic mutual funds held a 2.7 percent stake, while Life Insurance Corporation of India owned 3.64 percent. Retail shareholders with authorized share capital of up to Rs 2 lakh held a 3.07 percent stake in the company.

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During the session, a total of 95.39 lakh shares of the company were traded on the NSE, with a trading turnover of Rs 2,524.28 crore. Other Adani group companies also settled higher on Thursday, with Adani Power rising 5.2 percent, and Adani Green Energy, Adani Ports and Special Economic Zone, Adani Total Gas, and Adani Energy Solutions gaining between 0.4 percent and 3.2 percent.