Adani Enterprises shares in news today as firm to consider raising of funds
Adani Enterprises stock closed 8.01% higher at Rs 3391.20 on Thursday against the previous close of Rs 3139.60 on BSE.
Shares of Adani Enterprises are in news today after the firm said its board would consider and approve the proposal of raising of funds by way of issuance equity shares or any other eligible securities through permissible modes on May 28. Adani Enterprises stock closed 8.01% higher at Rs 3391.20 on Thursday against the previous close of Rs 3139.60 on BSE. Adani Enterprises stock opened higher at Rs 3150 on BSE. Adani Enterprises market cap rose to Rs 3.86 lakh crore. Total 3.37 lakh shares changed hands amounting to a turnover of Rs 111.87 crore on BSE.
Adani Enterprises stock has a one-year beta of 1.2, indicating very high volatility during the period.
In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at72.2, signaling it’s trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
The stock has risen 16.26 per cent this year and gained 29% in a year.
“A meeting of the board of directors of AAdani Enterprises Limited (the “Company”) will be held on Tuesday, 28th May 2024 at Ahmedabad, inter alia, to consider and approve the proposal of raising of funds by way of issuance equity shares or any other eligible securities (“Securities”) through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the Company. Further, as per the Company’s Code of Conduct for Prohibition of Insider Trading, the Trading Window for dealing in securities of the company will remain closed with effect from date and time of this intimation till 48 hours after the conclusion of the meeting to be held on 28th May, 2024,” said Adani Enterprises in a communication to bourses.
The stock rallied in the previous session amid reports that said Adani Enterprises was likely to replace Wipro in the benchmark Sensex as a part of the semi-annual rebalancing exercise for BSE indices. The official announcement in this regard is likely to come by Friday (May 24) and adjustment will take place on June 21.
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