Shares of Adani Enterprises witnessed a jump of 4% in Tuesday’s trading session as the company applied for funds from Northern Australian Infrastructure Facility (NAIF).
The fund will be utilised to build a rail line, which will be part of a $16 billion project in state of Queensland, Australia. Speculation is rife that NAIF is considering the company’s proposal.
Adani Enterprises’ stock on the NSE has delivered 47% returns in one year period, outperforming the BSE Mid-cap and Nifty Service Sector indices over the same time span.
Adani Enterprises is an integrated infrastructure company with businesses spanning coal trading, coal mining, oil and gas exploration, ports, multi-modal logistics, power generation and transmission and gas distribution. Its segments include trading, power, port, agro, mining, City Gas Distribution (CGD), renewable energy and others.
Credit By : Indiainfoline.com
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