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    512599   INE423A01024

ADANI ENTERPRISES LIMITED

(512599)
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Indian shares end higher as Reliance gains; inflation data in focus

06/14/2021 | 06:30am EDT

BENGALURU, June 14 (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day.

The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close.

On traders' radar is consumer price inflation (CPI) data after market close on Monday, with a Reuters poll showing India's retail inflation likely rose last month after a three-month low in April on higher food and energy prices.

In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. The Nifty IT index, which rose 4.52% last week, added 0.34%.

Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%. The National Securities Depository Ltd has frozen the accounts of three foreign funds that have invested 435 billion rupees ($5.94 billion) in Adani group companies, the Economic Times reported https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms.

Adani Enterprises, the conglomerate's flagship company, ended 6.3% lower. The companies had earlier reduced some losses after they said https://bit.ly/2TtKVfq the report was "erroneous".

Among other notable losers, Lupin Ltd fell 3.1% after the drugmaker said https://bit.ly/3xitgWF it received a warning letter from the U.S. Food and Drug Administration on its New Jersey facility.

Investors are also keeping a tab on the U.S. Federal Reserve's policy meeting this week, with many expecting the central bank to maintain its dovish stance. Some Fed board members, however, have said the central bank should start discussing tapering its bond-buying. ($1 = 73.2550 Indian rupees) (Reporting by Rama Venkat in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED 1.39% 1420.9 End-of-day quote.196.64%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED 2.25% 674.5 Delayed Quote.39.43%
EURO / US DOLLAR (EUR/USD) -0.01% 1.1867 Delayed Quote.-2.65%
INFOSYS LIMITED -0.40% 1610.5 Delayed Quote.28.24%
LUPIN LIMITED 1.98% 1107.15 End-of-day quote.13.36%
RELIANCE INDUSTRIES LTD -0.87% 2035.3 Delayed Quote.2.52%
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Financials
Sales 2022 487 B 6 550 M 6 550 M
Net income 2022 13 263 M 178 M 178 M
Net Debt 2022 - - -
P/E ratio 2022 117x
Yield 2022 -
Capitalization 1 563 B 21 019 M 21 022 M
Capi. / Sales 2022 3,21x
Capi. / Sales 2023 2,94x
Nbr of Employees 790
Free-Float 80,8%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 1 420,90 INR
Average target price 1 094,00 INR
Spread / Average Target -23,0%
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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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