Adani Enterprises bags NHAI order with bidding cost of Rs1,546cr; stock up 1%

Shares of Adani Enterprises Limited (AEL) gained 1% in the afternoon trade on the BSE. The company said that Adani Group has announced the award of the Hybrid Annuity Road Project from National Highways Authority of India (NHAI).

The company is focused on incubating successful businesses to address the Country's growing appetite for Infrastructure. With reference to our vision of Nation-building, we remain committed to building Infrastructure to boost India's socio-economic growth, Adani Ent said

AEL has recently participated in a tender issued by NHAI under Hybrid Annuity Mode ("HAM") and the Company led consortium has received a letter of award (LOA) from NHAI for a road project in the state of Andhra Pradesh, the company said.

“Six laning of Vijaywada Bypass from Gollapudi (Design Ch. 30+000) to Chinnakakani (design Ch. 47+881) including a major bridge across river Krishna in Vijayawada Gundugolanu section of NH-16 under Bharatmala Pariyojana on Hybrid Annuity Mode (Pkg. IV),” the company added.

The stock is currently trading at Rs201.50, up by Rs1.5 or 0.75% from its previous closing of Rs200 on the BSE.

The scrip opened at Rs196 and has touched a high and low of Rs204.90 and Rs196 respectively.

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