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Adani Enterprises stock hits new benchmark after 23.5%

Adani Enterprises share price gained nearly 5 percent intraday on Monday. The company’s arm Adani Airports have acquired ownership in Mumbai International Airport.

Adani Airport Holdings (AAHL) is a wholly owned subsidiary of Adani Enterprises. It has recently acquired 23.5 percent ownership in MIAL from ACSA Global and Bid Services Division for Rs 1,685.25 crore.

This new acquisition permits the Adani Group to change all the acquired debt into equity of GVKADL. However, it needs to have mutual agreements subjected to obtaining necessary regulatory approvals.

This stock was trading at Rs 628.80 high at Rs 33.25 today at 09:51 hours higher by 5.58 percent.

Further, scrip has touched its 52-week high at Rs 638.05 and has hit an intraday high of Rs 604.35.

Moreover, there is another news on the go that the AAHL has already acquired a total 23.5 percent of equity stake in the last fiscal year.

The company had total 28,20,00,000 equity shares.  The shares price are currently at Rs 10 of MIAL from the ACSA and Bidvest.

Also, company has already specified all the information regarding this event in the company’s imitation dated August 31,2020.

However, we can say that the share price of the company rose due to this acquisition as per the available market data.

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