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    512599   INE423A01024

ADANI ENTERPRISES LIMITED

(512599)
  Report
End-of-day quote. End-of-day quote Bombay Stock Exchange - 01/28
1694.7 INR   +0.59%
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As coronavirus hits travel, Adani ready for India aviation growth

09/02/2020 | 08:11am EST
File photo of Indian billionaire Adani speaking during an interview with Reuters at his office in Ahmedabad

India's Adani Enterprises says it is well placed to build the infrastructure needed to support the country's expected aviation growth, which has been curtailed by the coronavirus crisis.

The company's chairman Gautam Adani made the comment on Wednesday, only days after Adani Airports said it had agreed to buy GVK Power & Infrastructure's majority stake in Mumbai International Airport (MIAL), to give it control of one of India's biggest and busiest transport gateways.

Adani did not mention the impact of the COVID-19 pandemic on any growth plans. Global air travel has slumped since March, with government-imposed coronavirus restrictions and public wariness about travel hitting airports and airlines.

Credit rating agency Fitch in a note last month forecast consolidation in the Indian aviation sector and warned of a slow rebound in demand, with domestic passenger volume growth "in the single digits over the next few months".

Fitch also said that most Indian airlines reported passenger load factors of 50%-60% in July, versus 80%-90% last year.

India plans to build 200 additional airports and handle more than a billion domestic and international passengers, Adani said in a statement, adding that over this period India's top 30 cities are expected to require two airports.

"Adani Airports sees itself well-positioned to help build the infrastructure platform required," he said.

Adani Airports, a unit of Adani Enterprises, last year won the mandate to modernise and operate six airports in large Indian cities including Ahmedabad and Jaipur in the west and Guwahati in the east. These are major business or tourism hubs.

Adani said the acquisition of Mumbai airport, along with the other six, will give the group a "transformational platform" and create strategic opportunities for its other businesses.

Adani Group, an industrial conglomerate with revenues of over $15 billion, has businesses across power, gas distribution, renewable energy, logistics, ports, roads and rail.

By Aditi Shah


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED 0.59% 1694.7 End-of-day quote.-0.81%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED 0.15% 710.15 Delayed Quote.-2.90%
ADANI POWER LIMITED 0.09% 105.75 Delayed Quote.5.97%
GVK POWER & INFRASTRUCTURE LIMITED -4.90% 2.72 End-of-day quote.0.00%
All news about ADANI ENTERPRISES LIMITED
01/23ADANI ENTERPRISES : Updates
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01/21India's Adani Wilmar sets IPO price band at 218-230 rupees a share
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01/21Tatas, Adani Reportedly Set to Bid Third Time for Up Power Transco
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01/21Wilmar Files Prospectus for Indian JV's IPO
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01/13South Korea's POSCO, India's Adani eye steel mill project in $5-billion pact
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01/13ADANI ENTERPRISES : POSCO & Adani sign MoU for Integrated Steel Mill
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01/13Adani Group, POSCO Mull Integrated Steel Mill in Gujarat, India
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01/12South Korea's POSCO, India's Adani eye steel mill project in $5-bln pact
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01/12Tata Power Reportedly Seeks UP Transco Sale Via Swiss Challenge Method
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01/06Adani Enterprises Bags Imported Coal Contract from NTPC
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Analyst Recommendations on ADANI ENTERPRISES LIMITED
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Financials
Sales 2022 463 B 6 170 M 6 170 M
Net income 2022 14 581 M 194 M 194 M
Net Debt 2022 - - -
P/E ratio 2022 127x
Yield 2022 -
Capitalization 1 864 B 24 849 M 24 840 M
Capi. / Sales 2022 4,03x
Capi. / Sales 2023 3,60x
Nbr of Employees 790
Free-Float 75,4%
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Technical analysis trends ADANI ENTERPRISES LIMITED
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 1 694,70 INR
Average target price 1 300,00 INR
Spread / Average Target -23,3%
EPS Revisions
Managers and Directors
Rajesh Shantilal Adani Managing Director & Executive Director
Jugeshinder Singh Chief Financial Officer
Gautambhai Shantilal Adani Executive Chairman
Jatin R. Jalundhwala Secretary & Joint President-Legal
Hemant Madhusudan Nerurkar Independent Non-Executive Director
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