{"id":92892,"date":"2023-03-01T12:33:00","date_gmt":"2023-03-01T07:03:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=92892"},"modified":"2023-03-01T12:30:10","modified_gmt":"2023-03-01T07:00:10","slug":"adani-enterprises-surged-15-after-bagging-loi-for-a-bauxite-block-in-odisha","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/adani-enterprises-surged-15-after-bagging-loi-for-a-bauxite-block-in-odisha\/","title":{"rendered":"Adani Enterprises surged 15% after bagging LOI for a bauxite block in Odisha\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-211412589\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mundra Aluminium Limited (MAL), a wholly-owned subsidiary of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/ADANIENT\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Adani Enterprises<\/a><\/strong> has emerged as the \u201cpreferred bidder\u201d for a bauxite block in Odisha. Following the announcement, the shares of Adani Enterprises appreciated to the tune of 15% to \u20b9 1568.00 apiece against its previous close of \u20b9 1363.85.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1219362275\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing, MAL had participated in the auction proceedings invited by the government of India, during which it was declared as the preferred bidder and received a Letter of Intent (LOI) dated February 27, 2023, from the Government of Odisha in respect of the Kutrumali Bauxite Block in Odisha.&nbsp;<\/p><p>The Kutrumali bauxite block is estimated to have resources worth 128 million tonnes and is located in the Kalahandi and Rayagada districts of Odisha.&nbsp;<\/p><p>MAL is a wholly owned subsidiary of the flagship company of the Adani group. It was incorporated with the objective of carrying out the business of mining, refining, smelting, development, production and operations of bauxite, alumina and aluminium.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2337702373\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Interestingly, Adani Enterprises\u2019 share price took a sharp U-turn on Tuesday and has gained a whopping 36.49% in the past two days to trade at \u20b9 1520.00 apiece at 12:03 PM on Wednesday.&nbsp;<\/p><p>Adani Enterprises has a market capitalization of 1,55,479 crores and is a large-cap company. It has a low return on equity of 3.94% and a high debt-to-equity ratio of 1.31. Its shares were trading at a price-to-earnings ratio of 74.88, which is significantly higher than the industry P\/E of 24.97, indicating that its shares might be overvalued as compared to its peers.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1207372321\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mundra Aluminium Limited (MAL), a wholly-owned subsidiary of Adani Enterprises has emerged as the \u201cpreferred bidder\u201d for a bauxite block in Odisha. Following the announcement, the shares of Adani Enterprises appreciated to the tune of 15% to \u20b9 1568.00 apiece against its previous close of \u20b9 1363.85.\u00a0 According to an exchange filing, MAL had participated [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":33682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3414,6813,6822,1251,6821,5800,6814,6816,6817,6818,6819,6820,948,936,3153,3157,2597,6815],"class_list":["post-92892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-adani-enterprises","tag-adani-enterprises-jumps-15","tag-adani-enterprises-latest-deals","tag-adani-enterprises-news","tag-adani-enterprises-orders","tag-adani-enterprises-share","tag-adani-enterprises-upper-circuit","tag-mundra-aluminium-limited","tag-mundra-aluminium-limited-latest-news","tag-mundra-aluminium-limited-owner","tag-mundra-aluminium-limited-parent-company","tag-parent-company-of-mundra-aluminium-limited","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch","tag-why-are-adani-stocks-hitting-upper-circuit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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