Adani Enterprises zooms over 5 per cent; heres why!

Adani Enterprises Ltd has business interests in various economic areas such as mining, infrastructure such as airports, roads, rail, water, data centres, solar manufacturing, agro and defence. 

Adani Enterprises announced partnership with Total Energies to create the world’s largest green hydrogen ecosystem. With this deal, company will be able to produce 1 million tons green hydrogen per annum before 2030. The company informed the exchange that the French multi-energy major Total Energies will invest at least $12.5 billion to acquire 25 per cent interest in Adani New Industries. The amount to be paid by Total is undisclosed. 

The Indian government is taking all efforts to promote green hydrogen production as it aims to speed up the shift away from fossil fuels. This deal between Adani-Total will assist the government to achieve the goal. 

As a result, most of the green energy stocks jumped today. Kotyark Industries locked up in 10 per cent upper circuit and KPI Green Energy also surged over 7.5 per cent. Shares of Adani Enterprises jumped more than 5 per cent and witnessed spurt in volume by more than 2.56 times. Adani Power and Adani Ports climbed nearly 3 per cent each. Adani Wilmar was also near to its 5 per cent upper circuit. 

Adani Enterprises Ltd has business interests in various economic areas such as mining, integrated resources management, infrastructure such as airports, roads, rail, water, data centres, solar manufacturing, agro and defence. Considering the positive long-term outlook for the sector as well as the opportunities that lie ahead for green energy stocks, keep a close eye on these counters.