Adani Enterprises Ltd and Navayuga Engineering Company forms JV

Adani Enterprises Ltd and Navayuga Engineering Company Limited have incorporated a new company namely, "Vijayawada Bypass Project Private Limited" (VBPPL) on 15th May, 2020 in the ratio of 74:26.

The Company has incorporated a new subsidiary to carry out the development, maintenance and management of the project "Six laning of Vijaywada Bypass from Gollapudi (Design Ch. 30+000) to Chinnakakani (design Ch. 47+881) including major bridge across river Krishna in Vijayawada Gundugolanu section of NH-16 under Bharatmala Pariyojana on Hybrid Annuity Mode (Pkg. IV)."

VBPPL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on 15th May, 2020 and is yet to commence its business operations.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.140.9 as compared to the previous close of Rs. 140.75. The total number of shares traded during the day was 117502 in over 1861 trades.

The stock hit an intraday high of Rs. 143.8 and intraday low of 140. The net turnover during the day was Rs. 16661460.

Source : Equity Bulls

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