The shares of Adani Enterprise were trading in green till the afternoon on Friday at Rs 3,616 levels. In the past five days, the stock has gained approximately 9 percent. In the past four months, the stock has appreciated by 62 percent.
In January 2022, the stock was trading at Rs 1,717 a piece. From there it has spiked up to the current levels delivering a multibagger return of 110 percent YTD.
In a year, the stock has delivered a multibagger return of 143 percent. The stock has delivered a multibagger return of 943 percent in two years, with the price rising from Rs 352 in November 2020 to current levels.
Along with delivering multibagger returns, the company has reported robust Q2 results.
In the latest quarter, the company reported a 117 percent increase in its net profit which stood at Rs 461 crore compared to Rs 212 crore in the same quarter the previous year.
The company’s total revenue tripled to Rs 38,175 crore in Q2 FY23 as compared to Rs 13,218 crore which they earned in Q2FY22.
Adani Enterprises Limited, led by Gautam Adani, is the flagship company of the Adani Group which stands as one of India’s largest business organizations.
The promoters hold a 72.63 percent stake in the company and have pledged a 2.66 percent stake. In addition to that, Foreign Institutional Investors (FIIs) hold a 15.59 percent stake. The Life Insurance Corporation (LIC) of India also holds a 4.02 percent stake in the company.
Adani Enterprise Limited has a market cap of Rs 4,31,950 Crores making it the 12th largest company in India by market capitalization as on November 4th, 2022.
Written by Anoushka Roy
