Shares of Adani Enterprises Ltd gained 2.56% to ₹2,471.75 in early trading on December 30, 2024, following the company’s announcement regarding its stake dilution in Jhar Mineral Resources.
Key Announcement Highlights:
- Stake Dilution in Jhar Mineral Resources:
- The company’s stake in Jhar Mineral Resources Private Limited (JMRPL) has been diluted from 100% to 51% due to the allotment of additional equity shares by JMRPL.
- JMRPL is now classified as a subsidiary rather than a wholly owned subsidiary.
- The restructuring is effective from December 27, 2024.
- Strategic Significance:
Adani Enterprises is known for nurturing businesses from inception to demerger, with successful ventures like Adani Ports, Adani Green Energy, and Adani Total Gas.
Business Growth Outlook:
A recent report forecasts robust growth for Adani Enterprises:
- Consolidated Revenue: Expected to grow at a CAGR of 17.5% between FY24 and FY27.
- Net Earnings: Estimated growth of 45.8% CAGR over the same period.
Diversified Portfolio:
Adani Enterprises is incubating various businesses, including:
- Airports
- Solar module and wind turbine manufacturing
- Green hydrogen
- Road construction
- Data centers
- Copper manufacturing
TOPICS:
Adani enterprises