Adani Enterprises arm emerges preferred bidder for Kutrumali Bauxite Block in Odisha

Mundra Aluminium Limited ("MAL"), is a wholly owned subsidiary of Adani Enterprises Limited, incorporated with an objective of carrying out the business of mining, refining, smelting, development, production and operations of bauxite, alumina and aluminium.

MAL recently participated in the auction proceedings invited by Government of Odisha. Based on the outcome of the auction proceedings, MAL has been declared as "Preferred Bidder" and subsequently a Letter of Intent ("LOI") dated 27th February 2023 has been issued by Government of Odisha in respect of the following mineral block in Odisha.

Total Geological Resources is 128.0 (Million Tonnes).

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 1364.05 as compared to the previous close of Rs. 1194.20. The total number of shares traded during the day was 2070706 in over 143665 trades.

The stock hit an intraday high of Rs. 1421.95 and intraday low of 1103.00. The net turnover during the day was Rs. 2671045556.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 MundraAluminium PreferredBidder KutrumaliBauxiteBlock Odisha