Adani Enterprises, the flagship company of the Adani Group, has garnered significant market attention following a major block deal by Abu Dhabi-based IHC Capital Holding. The diversified investment group sold 84.48 lakh shares, equivalent to a 0.73% stake in Adani Enterprises, for ₹1,832 crore through open market transactions on Wednesday.
Details of the Transaction
The shares were sold at an average price of ₹2,168.10 per share, according to block deal data on the Bombay Stock Exchange (BSE). The transaction was executed through IHC Capital’s subsidiaries, Green Vitality RSC and Green Energy Investment Holding RSC. Despite the sale, Adani Enterprises’ stock witnessed a 4.57% rise, closing at ₹2,244.85 on the BSE.
Market Reaction
The block deal has brought Adani Enterprises into the spotlight, with the stock showing resilience amidst market fluctuations. The company has demonstrated a weekly return of 5.45%, reflecting investor confidence despite the recent transaction. Shares of other Adani Group companies, including Adani Green Energy, also saw gains, with some rising over 10%.
Adani Enterprises’ Performance
Adani Enterprises has faced challenges in recent months, including a 97% drop in net profit for the third quarter of FY25 due to reduced coal trading volumes and forex losses. However, the company remains a key player in transformative infrastructure and energy transition sectors, as highlighted by its Chairman, Gautam Adani.
Looking Ahead
The sale by IHC Capital marks a significant development for Adani Enterprises, underscoring the dynamic nature of its shareholder base. As the company continues to navigate market challenges, its focus on core sectors and strategic initiatives will remain critical to sustaining investor confidence and driving future growth.
