Millennium Post

Shares rocket 11% to reach 52-wk high in intra-day trade

Shares of Adani Enterprises surged nearly 10 per cent on Friday after diversified Adani group announced demerger of all ports and power assets into two already listed firms.

Following the announcement, Adani Enterprises' stock jumped 7.79 per cent to end at Rs 629.50 on the BSE. During the day, it surged 10.61 per cent to Rs 646 -- its 52-week high. At the NSE, it rose sharply by 9.87 per cent to settle at Rs 641. Shares of Adani Ports and SEZ fell by 0.90 per cent, while another listed firm Adani Power ended 0.68 per cent higher at the BSE. On the approval by the boards of three listed firms, the group would move away from its present 'holding company' structure and would instead have four independently listed entities for the four major business segments.
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