Shares of Adani group's flagship entity, Adani Enterprises surged nearly 2 percent in Thursday's trade, ahead of the announcement of the company's March quarter results and dividend, if any. The firm will announce its fourth quarter results amid an ongoing investigations by Sebi following a damning report by US-based short seller Hindenburg Research.

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At around 10 am, the stock was trading 1.66 percent higher at Rs 1,869.55 apiece on the NSE. The scrip has gained 9.49 percent in the last one month, while it fell 51.60 percent on a year-to-date basis.

Shares of Adani Enterprises hit a 52-week high of Rs 4,189.55 on December 21, 2022, while it touched a 52-week low of Rs 1017.1 on February 3, 2023.

The Adani group's flagship firm had earlier informed the stock exchanges that the company's board will meet today to discuss the fourth quarter earnings and recommend dividend, if any.

"We would like to inform you that the meeting of the board of directors of the company will be held on Thursday, 4th May, 2023 inter-alia to consider and approve the audited financial results of the company for the quarter and year ended 31st March, 2023 and to recommend dividend, if any on the equity shares of the company for the financial year 2022-23," the company said in a filing on April 27.

"Further, as per the company's code of conduct for Prohibition of Insider Trading, the trading window closure period will end 48 hours after the results are made public on 4th May, 2023," it added.

The estimates for the company's fourth quarter profit and revenue figures are not available. In the third quarter ended December, Adani Enterprises had posted a consolidated net profit of Rs 820 crore, against a net loss of Rs 11.63 crore a year ago.

Revenue from operations rose around 42 percent year-on year to Rs 26,612.23 crore.

Consolidated operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), doubled on year to Rs 1,968 crore.