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    512599   INE423A01024

ADANI ENTERPRISES LIMITED

(512599)
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Nifty, Sensex end flat as Reliance losses counter vaccine hopes

08/25/2020 | 06:38am EDT
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

Indian shares ended little changed on Tuesday after hitting a six-month intraday high, as losses in index heavyweight Reliance Industries countered optimism around U.S.-China trade talks and a potential coronavirus vaccine.

The NSE Nifty 50 index rose as much as 0.52% to its best intraday level since late February in early trade, but ended just 0.05% higher at 11,472.25 for a third straight day of gains.

The S&P BSE Sensex closed up 0.12% at 38,843.88, after having crossed the 39,000-level in early trading for the first time since March 2.

Conglomerate Reliance Industries Ltd, India's largest firm by market value, fell 0.7% after a modest rise on Monday. The stock has more than doubled in value since late March on a slew of foreign investments into Reliance's digital arm.

The top four boosts on the Nifty 50 were all financial stocks. Bajaj Finance jumped 4.8%, while ICICI Bank Ltd, State Bank of India and Kotak Mahindra Bank gained between 1.1% and 3.4%.

Analysts said Tuesday's rise reflected an upbeat global mood in the absence of any major domestic catalysts, following recent gains on better-than-feared corporate earnings and management commentary.

Other global shares also rose, propped up by the United States and China saying they are still committed to their Phase 1 trade deal, and increased optimism around COVID-19 vaccine development.

Shares in Adani Enterprises Ltd ended 23.7% higher following a report on Monday that the conglomerate was in talks to buy out some of its partners in the entity that runs Mumbai's international airport.

(Reporting by Sachin Ravikumar; Editing by Ramakrishnan M.)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED 0.26% 1508.3 End-of-day quote.214.89%
BAJAJ FINANCE LIMITED 0.00%End-of-day quote.0.00%
BANK OF INDIA LIMITED -1.66% 77 End-of-day quote.58.27%
ICICI BANK LIMITED 1.50% 634.05 Delayed Quote.16.76%
KOTAK MAHINDRA BANK LIMITED 0.07% 1738 End-of-day quote.-12.90%
NIFTY 50 0.66% 15790.45 Delayed Quote.12.20%
RELIANCE INDUSTRIES LTD -2.35% 2153.5 Delayed Quote.11.08%
SENSEX 30 0.75% 52699 Real-time Quote.9.54%
STATE BK OF INDIA -0.39% 417.2 Delayed Quote.52.34%
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Financials
Sales 2022 487 B 6 567 M 6 567 M
Net income 2022 13 263 M 179 M 179 M
Net Debt 2022 - - -
P/E ratio 2022 125x
Yield 2022 -
Capitalization 1 659 B 22 367 M 22 373 M
Capi. / Sales 2022 3,41x
Capi. / Sales 2023 3,12x
Nbr of Employees 790
Free-Float 83,1%
Chart ADANI ENTERPRISES LIMITED
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Adani Enterprises Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends ADANI ENTERPRISES LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 1 508,30 INR
Average target price 1 094,00 INR
Spread / Average Target -27,5%
EPS Revisions
Managers and Directors
NameTitle
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.Capitalization (M$)
ADANI ENTERPRISES LIMITED214.89%22 314
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SUMITOMO CORPORATION11.06%17 041