Oz govt in final stages of granting loan to Adani Enterprises

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The Australian government is in its final stages of granting loan to Adani Enterprises, reported a global news agency on Friday.

Adani Enterprises is awaiting a concessional loan of around USD 700 million from the Northern Australia Infrastructure Facility (NAIF), a government agency to help the company build a 380-km rail link into its controversial Carmichael project located in the remote Galilee Basin.

Adani's proposed Carmichael mine in Queensland state has faced years of delays amid opposition from environmental groups who argue it will contribute to global warming and damage the Great Barrier Reef.

Adani Enterprises was trading at Rs 139.15, down by Rs 1.70 or 1.21% as at 1127 hours on Friday, on the BSE.

Stock view :-

Adani Enterprises Ltd is currently trading at Rs 139.65, down by Rs 1.2 or 0.85% from its previous closing of Rs 140.85 on the BSE.

The scrip opened at Rs 141 and has touched a high and low of Rs 141 and Rs 138.5 respectively. So far 2996775(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 15490.68 crore.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 160.6 on 18-Apr-2017 and a 52 week low of Rs 58.35 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 144.4 and Rs 132.85 respectively.

The promoters holding in the company stood at 74.92 % while Institutions and Non-Institutions held 21.02 % and 4.06 % respectively.

The stock is currently trading above its 50 DMA.

Adani Enterprises Ltd :-

BSE 139.55 [1.30]    ([0.92]%)
NSE 139.55 [1.25]    ([0.89]%)


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