Adani Enterprises surges 6% as it gives nod to Australia coalmine project

In the past one year, the scrip rallied 63.2% against just 17% gains in Sensex

Shares of Adani Enterprises rallied over 6% after the company gave final investment approval for its controversial $4 billion Carmichael mine and rail project in Queensland.

The stock surged as much as 6.6% to Rs 125 on the BSE. So far, 20 lakh shares of the company exchanged hands on the counter against its two-week average of 16 lakh shares. 

The stock outperformed the market over the past one month by rising 3.8% compared with nearly 5% rise in the Sensex. The scrip also outperformed the market in the past one quarter, rising 20.17% against nearly 8% rise in Sensex. In the