5 Reasons Why Sensex Surged 617 Points Today

Market participants were also tracking Adani Enterprises' share price.

Shares of the company hit a fresh 52-week high of Rs 683, up 7% after Adani Airports completed the acquisition of a 23.5% stake in Mumbai Airport.

"Adani Airport Holdings (AAHL), the flagship holding company of Adani Group for its airports business and a wholly-owned subsidiary of Adani Enterprises, has acquired 23.5% equity stake, i.e. 282 million equity shares of Rs 10 of Mumbai International Airport, from ACSA Global and Bid Services Division (Mauritius) for Rs 1,685.25 crore," Adani Enterprises said in a regulatory filing.

In August 2020, Adani Group had signed an agreement with GVK Group to acquire its 50.5% stake in Mumbai airport. The deal also included the acquisition of a 23.5% stake held by the two South African companies.

Adani Enterprises' share price ended the day up by 5.6%.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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