Adani Enterprises shares jump 5% after nearly 60 lakh shares worth Rs 1,435 crore change hands in block deal

Shares of flagship Adani firm Adani Enterprises rallied as much as 5.3% to their day’s high of Rs 2,634 on the BSE on Thursday after nearly 60 lakh shares changed hands in a block deal.

With today’s gain, the stock is up 10% in two sessions.

The Economic Times could not independently verify the buyers and sellers involved in the transaction.Adani Enterprises Q4 ResultsAdani Ent reported a net loss of Rs 221 crore for the fourth quarter, compared with a profit of Rs 3,845 crore in the corresponding period last year.

Revenue from operations, however, rose 20% year-on-year to Rs 32,439 crore during the quarter.

Adani Enterprises said profitability during the quarter was impacted by higher depreciation charges related to newly commissioned assets at Navi Mumbai and the copper plant.Operationally, performance remained relatively stable, with EBITDA rising 3% year-on-year to Rs 4,479 crore from Rs 4,346 crore in the year-ago period.