Adani Enterprises surges on announcing strategic collaboration with France based TotalEnergies

Adani Enterprises surges on announcing strategic collaboration with France based TotalEnergies

by 5paisa Research Team Last Updated: Jun 14, 2022 - 12:29 pm 25.1k Views
Listen icon

In alignment to this, TotalEnergies shall acquire a 25% minority interest in Adani New Industries Ltd from Adani Enterprises Ltd.

Adani Enterprises Ltd (AEL), the incubation arm of Adani Portfolio, has entered into a new partnership with TotalEnergies, an energy supermajor based in France for creating the world’s largest green hydrogen ecosystem. TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity.

As a part of this alliance, TotalEnergies shall acquire a 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd.

Why ANIL? 

ANIL has ambitious plans to invest over USD 50 billion in green hydrogen and associated ecosystem over a period of the next 10 years. In the initial phase, the company (ANIL) will develop a green hydrogen production capacity of 1 million tons per annum before 2030.

In this partnership, Adani will bring in its deep knowledge of the Indian market, rapid execution capabilities, operations excellence and capital management philosophy. On the other hand, the France based TotalEnergies will contribute its deep understanding of the global and European market, credit enhancement and financial strength to bring down the financing costs, and expertise in underlying technologies.

With the contribution of these respective strengths, both partners will help ANIL deliver the largest green hydrogen ecosystem in the world. The latter, in turn, will deliver the lowest cost of Green Hydrogen to the consumer and help speed up the global energy transition.

Owing to this development, the strategic collaboration between the Adani Portfolio and TotalEnergies now covers LNG terminals, the gas utility business, renewables business and green hydrogen production.

At 12.19 pm, the shares of Adani Enterprises Ltd were trading at Rs 2,192, an increase of 5.31% from the previous day’s closing price of Rs 2081.45 on BSE. The stock has a 52-week high & low of Rs 2,420 and Rs 1,201.10, respectively on BSE.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.