Adani Enterprises Limited receives HAM project from NHAI

Adani Enterprises Limited (AEL or the Company) is focused on incubating successful businesses to address the Country's growing appetite for Infrastructure. With reference to its vision of Nation building, it remains committed to building Infrastructure to boost India's socio-economic growth. Adani Group has announced the award of another Hybrid Annuity Road Project from National Highways Authority of India (NHAI). AEL has recently participated in tender issued by NHAI under Hybrid Annuity Mode (HAM) and AEL has received a letter of award (LOA) from NHAI for below mentioned road project in the state of Kerala:

- Six Laning of Azhiyur to Vengalam section of NH-17 (New NH-66) from Des. Ch. 189+200 (Ex. km 188+000) to Des.Ch. 232+100 (Ex. km 230+400) [except Six laning of Paloli to Moorad section from Des. Ch. 203+000 (Ex. km 201+590) to Des.Ch. 205+100 (Ex. km 203+900)] in the State of Kerala on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojna.

AEL would continue to evaluate and bid for attractive opportunities in transport sector which generates value for the stakeholders. The Group would use its immense expertise and experience of setting up complex and mammoth infrastructure projects in record time and to world class quality standards and also successfully operating them. With this project award, Adani Group will have total Six NHAI road projects under HAM in the states of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh and Kerala.

The company's bid for the project was Rs. 1838.10 crore. The Construction Period is 2.5 Years and Operation Period is 15 Years.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.532.1 as compared to the previous close of Rs. 536.9. The total number of shares traded during the day was 173831 in over 3179 trades.

The stock hit an intraday high of Rs. 541 and intraday low of 528.2. The net turnover during the day was Rs. 92954800.

Source : Equity Bulls

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