Adani Enterprises Ltd on Wednesday announced that it would declare its financial results for the quarter ended September 2023 on November 2.

Share Market Live

NSE

“We would like to inform you that the meeting of the board of directors of the company will be held on Thursday, November 2, 2023, inter-alia to consider and approve the unaudited financial results of the company for the quarter and half year ended September 30, 2023," the company said in a stock exchange filing.

The company added that the trading window closure period will end 48 hours after the results are made public on November 2, 2023, as per the company's code of conduct for prohibition of insider trading.

Adani Enterprises will also hold a post-results conference call with investors on the same day to discuss its financial performance during the quarter.

Shares of Adani Enterprises are down for the ninth-straight session on Thursday, October 26, losing a cumulative of 13% of their value during this period. The stock was down as much as 4% on Thursday morning to hit an intra-day low of ₹2,167.05 on BSE. The stock has fallen 43% this year, so far.

Shares of all ten Adani Group companies are trading with losses today, with stocks falling between 2% and 7%.

In the previous quarter, Adani Enterprises had reported a 44% year-on-year jump in net profit to ₹674 crore. Total revenue was, however, was down 38% to ₹25,438 crore.

Earlier this month, Adani Enterprises had announced that it had successfully secured ₹700 crore in funding through a strategic move of allotting 70,000 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs). These NCDs, with face value of ₹1 lakh each, were issued on a private placement basis.

In a separate development, Abu Dhabi-based International Holding Co. (IHC) also announced that its holding in Adani Enterprises had increased to above 5%. However, IHC did not mention the amount invested in the company.

Also Read: IRM Energy shares list at 5.5% discount to IPO price: should investors buy, hold or book profit?

(Edited by : Shloka Badkar)