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    512599   INE423A01024

ADANI ENTERPRISES LIMITED

(512599)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-11-24
3903.35 INR   -0.48%
03:56aProtests at Adani's south India port block restart of construction
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11/25Investor Caution Makes Indian Equities End Flat; HDFC Life Insurance Rises 2%
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11/25Adani Enterprises to raise $2.45 billion through share sale
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India's Adani pledges shares of ACC, Ambuja Cements worth about $12.5 bln

09/21/2022 | 12:40am EST

BENGALURU, Sept 21 (Reuters) - India's Adani Group has pledged shares worth about $12.5 billion in two cement units, days after the conglomerate controlled by billionaire Gautam Adani completed purchase of stakes in those businesses from Switzerland's Holcim.

The agreement will be in the form of a non-disposal undertaking, under which Adani will not be able to offload the shares until the lender agrees that the debt is paid.

The encumbered shares of ACC and Ambuja were worth around 989.46 billion indian rupees ($12.40 billion) based on Monday's closing prices and accounted for a 57% stake in ACC and a 63% stake in Ambuja Cements.

Deutsche Bank AG's Hong Kong branch, which is the agent for the shares in ACC and Ambuja, made the disclosure in filings to India's stock exchanges on Tuesday. (https://bityl.co/EZE6) (https://bityl.co/EZEE)

ACC shares, which had climbed 3.2% on Tuesday, dropped 1.7% in Wednesday's session, while Ambuja slipped 1.8% after a 1.7% gain.

The group in May announced the acquisition of Holcim's cement businesses in India for $10.5 billion to become the country's No. 2 cement manufacturer.

After the completion of the deal, Adani said on Saturday that production capacity at the cement units was expected to double by 2027.

Adani, the world's second-richest man after Elon Musk, has made inroads into several sectors this year, ranging from media companies to cement giants, in a deal-making spree that has raised concerns about his group's debt levels. ($1 = 79.8230 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Anil D'Silva and Dhanya Ann Thoppil)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACC LTD 1.86% 2507.25 Delayed Quote.13.16%
ADANI ENTERPRISES LIMITED -0.48% 3903.35 End-of-day quote.128.46%
ADANI POWER LIMITED -0.31% 323.95 Delayed Quote.224.92%
AMBUJA CEMENTS LIMITED 1.39% 564.85 End-of-day quote.49.61%
DEUTSCHE BANK AG 0.19% 10.39 Delayed Quote.-5.70%
HOLCIM LTD 0.78% 49.34 Delayed Quote.6.08%
TESLA, INC. -0.19% 182.86 Delayed Quote.-48.09%
All news about ADANI ENTERPRISES LIMITED
03:56aProtests at Adani's south India port block restart of construction
RE
11/25Investor Caution Makes Indian Equities End Flat; HDFC Life Insurance Rises 2%
MT
11/25Adani Enterprises to raise $2.45 billion through share sale
RE
11/25Adani Enterprises Gets Board's Nod to Raise Up to $2.45 Billion from Equity Offering
MT
11/25Takeover of NDTV a 'responsibility', says India's richest man Adani - FT
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11/25India's Adani to invest $4 billion in petrochemical complex - FT
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11/23Adani mulls $5 billion fundraise after banks push for deleverage - Bloomberg News
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11/23Strong Media and Bank Stocks Aid Indian Equities to Close with Marginal Gains; Apollo H..
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11/23Adani Enterprises Weighs $1.8 Billion Fundraise
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11/22Indian tycoon Adani's mega port hangs in the balance as a fishing community protests
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Analyst Recommendations on ADANI ENTERPRISES LIMITED
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Financials
Sales 2023 717 B 8 771 M 8 771 M
Net income 2023 23 734 M 290 M 290 M
Net Debt 2023 - - -
P/E ratio 2023 188x
Yield 2023 -
Capitalization 4 450 B 54 435 M 54 435 M
Capi. / Sales 2023 6,21x
Capi. / Sales 2024 5,74x
Nbr of Employees 5 051
Free-Float 19,8%
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Technical analysis trends ADANI ENTERPRISES LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 3 903,35 INR
Average target price 3 512,00 INR
Spread / Average Target -10,0%
EPS Revisions
Managers and Directors
Rajesh Shantilal Adani Managing Director & Executive Director
Jugeshinder Singh Chief Financial Officer
Gautambhai Shantilal Adani Executive Chairman
Jatin R. Jalundhwala Secretary & Joint President-Legal
Hemant Madhusudan Nerurkar Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ADANI ENTERPRISES LIMITED128.46%54 435
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ITOCHU CORPORATION23.93%45 928
MITSUI & CO., LTD.48.82%45 204
SUMITOMO CORPORATION35.46%20 686
MARUBENI CORPORATION41.36%19 504