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Adani Enterprise has received rating action from ICRA as under:
3,000
2,000
14,893
At 11:25 IST, the barometer index, the S&P BSE Sensex, added 78.06 points or 0.10% to 78,052.21. The Nifty 50 index advanced 24.50 points or 0.10% to 23,682.85.
In the broader market, the S&P BSE Mid-Cap index fell 1% and the S&P BSE Small-Cap index declined 1.40%.
The market breadth was strong. On the BSE, 1,202 shares rose and 2,615 shares fell. A total of 167 shares were unchanged.
Buzzing Index:
The Nifty Media index declined 1.53% to 1,524.95. The index jumped 8.41% in the past five consecutive trading sessions.
Dish TV India (down 5.54%), Hathway Cable & Datacom (down 3.59%), Network 18 Media & Investments (down 3.43%), Den Networks (down 2.62%) and PVR Inox (down 1.96%), Zee Entertainment Enterprises (down 1.43%), Saregama India (down 0.87%), Tips Music (down 0.81%), Nazara Technologies (down 0.78%) and Sun TV Network (down 0.08%) declined.
Stocks in Spotlight:
Interarch Building Products rose 1.23% after the company announced that it has entered into a memorandum of understanding (MoU) with Moldtek Technologies (MTTL).
Adani Enterprises declined 1.41%. The company has announced that its wholly owned subsidiary, Adani New Industries (ANIL), has incorporated a wholly owned subsidiary, Adani New Industries One (ANIOL).
Garden Reach Shipbuilders & Engineers advanced 1.01% after the company said that it has signed a contract with Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG for the construction and delivery of the seventh and eighth 7,500 DWT multi-purpose vessels (MPVs).
Global Market:
Asian stocks traded mixed on Tuesday, as investors assessed U.S. President Donald Trump's tariff threats.
In China, the central bank announced changes to the way it sells medium-term loans, a move that market participants believe could further diminish the role of such instruments in guiding monetary policy. The People’s Bank of China (PBOC) stated it will issue 450 billion yuan ($62.03 billion) in one-year medium-term lending facility (MLF) loans on Tuesday. Starting this month, MLF operations will be conducted using a fixed-quantity, interest-rate bidding, and multiple-price bidding method, the PBOC added.
On Wall Street, U.S. indices surged on Monday amid reports that Trump’s April 2 tariffs will be less harsh than previously feared. The Dow Jones Industrial Average jumped 1.42%, the S&P 500 climbed 1.76%, and the tech-heavy Nasdaq Composite soared 2.27%.
Tesla shares, which had been declining for nine consecutive weeks, rebounded nearly 12%, building on their Friday gains. Meta Platforms and Nvidia also saw gains of more than 3%.
Meanwhile, 23AndMe Holding Co plummeted 59% after filing for Chapter 11 bankruptcy protection.
The economic activity in the US' private sector expanded at an accelerating pace in March, with the S&P Global Composite PMI rising to 53.5 (preliminary) from 51.6 in February. The Services PMI climbed to 54.3 in March from 51 in February, while the manufacturing PMI declined to 49.8 in March from 52.7 February.
Wall Street has been under pressure in recent weeks amid concerns that Trump’s tariffs could drive up inflation, disrupt global trade, and slow economic growth. Earlier this month, major indices slumped to six-month lows on such fears.
While Trump has repeatedly described April 2 as “liberation day” for the U.S., investors found some relief in signs that the tariffs' scope may be narrower than initially expected, potentially limiting their economic impact.
The newly incorporated subsidiary will focus on the business of trading and supplying various components, equipment, and materials related to solar and wind manufacturing. This includes, but is not limited to, solar panels, inverters, wind turbines, blades, and other related equipment, as well as providing a range of associated services.
The authorized and paid-up share capital of ANIOL is Rs 1,00,000, divided into 10,000 equity shares. Adani New Industries (ANIL) holds 100% of the share capital of ANIOL, which is yet to commence its business operations.
Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centered on the fields of airport management, technology parks, roads, data centers, and water infrastructure.
The company’s consolidated net profit tanked 96.93% to Rs 57.83 crore in Q3 FY25 as against Rs 1,888.45 crore reported in Q3 FY24. Revenue from operations declined 8.78% to Rs 22,848.42 crore in Q3 FY25 from Rs 25,050.23 crore recorded in the same period a year ago.
The counter slipped 1.23% to Rs 2,340.50 on the BSE.
The company has been incorporated under the Dubai Integrated Economic Zones Authority in Dubai Silicon Oasis. However, CIFZCO has not yet commenced its business operations.
The official announcement was made on 21 March 2025, after market hours.
The counter rose 1.04% to end at Rs 2,363.30 on the BSE on Friday.
Adani Enterprises, through its subsidiary Kutch Copper, formed a 50/50 partnership with Praneetha Ventures to launch PEL. It will focus on manufacturing and distribution of metal products, cables, and wires. PEL, based in Ahmedabad, is newly incorporated with an authorized and paid-up share capital of Rs 10 lakh.
Shares of Adani Enterprises were up 0.47% at Rs 2332.
Shares of Adani Enterprises shed 0.05% to Rs 2,320 on the BSE.
Following the announcement, shares of other wire makers slumped on fears of increased competition. Shares of KEI Industries fell by 13.31%, Polycab India dropped 9.19%, Havells India saw a 3.85% decrease, and other peers like RR Kabel and Finolex Cables declined by 1.83% and 3.97%, respectively.