Adani scrip glows 14%

Shares of Adani Enterprises surged 14 per cent on Thursday after the group’s plan to build one of the world’s largest coal mines got a new lease of life with the Australian government giving re-approval to its 16.5 billion controversy-hit project. The stock advanced by 14.02 per cent to settle at Rs 96.75 on BSE. During the day, it gained 15.85 per cent to Rs 98.30. On the NSE, it climbed 14 per cent to close at Rs 96.75. Buying was also seen in other group stocks such as Adani Power that rose by 4.28 per cent to Rs 29.25 and Adani Ports and Special Economic Zone gained 1.42 per cent to Rs 328.80 on BSE. Over two months after an Australian court revoked the environmental approval for the project, the firm got the re-approval.