Adani Enterprises gains 5% on buzz of demerger into four verticals

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Adani Enterprises gains 5% on buzz of demerger into four verticals

July 4, 2017 Anand Gupta

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Adani Enterprises gained nearly 5 percent intraday on Monday as investors cheered the buzz of demerger for the company.

According to a CNBC-TV18 report, the company is said to be mulling a demerger into four verticals of coal and mining, renewables, city gas distribution as well as agriculture business.

Sources further told the channel that the demerger exercise could be undertaken to unlock value in the trading and mining business and focus on renewables going forward.

The management refused to comment on the matter.

At 12:03 hrs Adani Enterprises was quoting at Rs 137.15, up Rs 4.65, or 3.51 percent. It touched an intraday high of Rs 138.80 and an intraday low of Rs 131.05.