Adani Enterprises shares surge after ₹1.08L/cr aluminum JV with IRH
Adani Enterprises's stock soared to ₹3,206.90 on Friday, nearly hitting its highest point this year.
The boost came after the company announced a massive aluminum joint venture with Abu Dhabi's IRH, with a memorandum of understanding signed with the Odisha government, worth ₹1.08 lakh crore.
Trading was lively, with buy orders making up over half of all trades and Adani's market value reaching ₹4.16 lakh crore.
Adani up over 40%, 53,500 jobs
Adani's shares have returned more than 40% so far in 2026, way ahead of the Nifty 50 index, which actually dropped by almost 7%.
This new project isn't just about profits; it's expected to create around 53,500 jobs in India.
QIP at ₹3,034.68 floor with firms
Adani also kicked off a qualified institutional placement (QIP) of shares at a floor price of ₹3,034.68 each, with top financial firms helping manage the process.