On Tuesday, Adani Enterprises declared incorporation of a wholly-owned arm 'Mundra Petrochem Ltd' (MPL). In a filing to BSE, the firm said MPL is so far to inaugurate its business operations.
"MPL is incorporated with the object to set up various feedstocks (coal, petcoke, coke, limestone, salts, sand, tar, oil, LPG, LNG, Ethane,
LPG, green fuels etc.) based refinery, petrochemical and chemical plants in a phased manner in India and to undertake all such activities associated with land acquisition, design and engineering, procurement...and other related undertakings," the filing said.
MPL is incorporated in India and was registered with the Registrar of Companies, Gujarat at Ahmedabad on Monday, it added.
Adani Enterprises Ltd (AEL), the flagship entity of Adani Group, is an incubator focusing on establishing diverse new businesses.
Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.1136.3 as compared to the previous close of Rs. 1160.7. The total number of shares traded during the day was 690393 in over 17006 trades.
The stock hit an intraday high of Rs. 1153.25 and intraday low of 1060.4. The net turnover during the day was Rs. 778904752.
