Adani Enterprises rises 3% on stake sale in subsidiary company

Shares of Adani Enterprises rose 3 percent intraday Monday as company sold its stake in the subsidiary company.

The company sold 51 percent stake in its wholly owned subsidiary company Adani Chendipada Mining.

The company has entered into agreement for stake sale on May 25 and received Rs 51000 as consideration from sale.

At 09:59 hrs Adani Enterprises was quoting at Rs 127.15, up Rs 2.85, or 2.29 percent on the BSE.

The share touched its 52-week high Rs 223.35 and 52-week low Rs 105.10 on 14 February, 2018 and 22 August, 2017, respectively.

Currently, it is trading 43.07 percent below its 52-week high and 20.98 percent above its 52-week low.