Adani Enterprises bags LoA for NHAI project in Gujarat

The shares of Adani Enterprises were trading higher by 2 per cent intraday on Friday after the Group announced that it has received an award for a toll-operate-transfer (TOT) road project from National Highways Authority of India (NHAI).  

Adani Road Transport Limited secured a letter of award (LoA) from NHAI for tolling, operation, and maintenance of Palanpur-Radhanpur-Samkhiyali section of NH-27 in Gujarat, India. The total length of the project is 53.60 km with a concession period of 20 years.   

Adani Road Transport Ltd is a wholly-owned subsidiary of Adani Enterprises Limited, incorporated to carry out the business of construction, operation & maintenance of roads, highways, and expressways. The company would continue to evaluate and bid for attractive opportunities in the transport sector, which generates value for the stakeholders.  

With this project award, Adani Group will have a total of seven NHAI road projects under the hybrid annuity model (HAM) and toll-operate-transfer (TOT), in the states of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, and Gujarat.  

On Friday, Adani Enterprises Limited closed at Rs 889.40, up by 2.07 per cent or Rs 18.05 per share, against a 1.30 per cent gain in the benchmark index. The 52-week high of the company is recorded at Rs 944.75 while its 52-week low is Rs 116.25 on BSE.