Adani Enterprises gain on bagging SECI order for electrolysers manufacturing

Adani New Industries, a wholly owned subsidiary, has received letter of award from Solar Energy Corporation of India for setting up annual electrolysers manufacturing capacity of 198.5 MW

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Adani Enterprises traded a tad higher in the early trade on January 15 after the Adani group flagship announced receiving order from Solar Energy Corporation of India (SECI) for set up manufacturing capacity for electrolysers in India.

At 9.31 am, Adani Enterprises was quoting at Rs 3,109.00, up Rs 4.75, or 0.15 percent, on the BSE.

“Adani New Industries, a wholly owned subsidiary, has received Letter of Award (LoA) from Solar Energy Corporation of India (SECI) for setting up electrolysers manufacturing capacity of 198.5 MW per annum in India under strategic interventions for Green Hydrogen Transition Scheme (Tranche-I),” the company said in exchange note.

The project, covered by the production linked incentive scheme, has to be completed within 30 months from the date of LoA.

The maximum incentive to be allocated over the period of five years from scheduled commissioning date is Rs 293.78 crore.

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The share touched a 52-week high of Rs 3,739 on January 16, 2023 and a 52-week low of Rs 1,017.10 on February 3, 2023. The stock is trading 16.85 percent below its 52-week high and 205.67 percent above its 52-week low.

The share price gained 68 percent in the last 9 months.

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