Latest News | Adani Ent Shares Climb over 3 Pc as IHC Hikes Stake

New Delhi, Oct 4 (PTI) Shares of Adani Enterprises Ltd climbed more than 3 per cent on Wednesday after Abu Dhabi conglomerate International Holding Company (IHC) raised its stake in the Adani group's flagship firm.

The stock jumped 3.22 per cent to Rs 2,464.40 on the BSE. During the day, it rallied 4.76 per cent to Rs 2,501.40.

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On the NSE, it climbed 3.22 per cent to Rs 2,464.30.

Days after selling its stake in two of Adani group companies, Abu Dhabi conglomerate IHC on Tuesday said it has raised its stake in Adani Enterprises Ltd to above 5 per cent.

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IHC raised its stake from 4.98 per cent to 5.04 per cent through open market purchase, according to a stock exchange filing by AEL.

IHC separately said, "This strategic increase reflects IHC's conviction in the world leading incubation model of AEL."

Stating it has increased its stake in AEL to above 5 per cent, IHC said it believes that "the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India's robust growth journey."

"IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders' return," it added.

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