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Adani Enterprises trades flat despite signing MoU with Andhra Pradesh

10 January, 2019 4:09 AM
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Adani Enterprises trades flat despite signing MoU with Andhra Pradesh

Adani Group will invest Rs 70,000 crores to build 'green' data centre parks in Andhra Pradesh, potentially creating over 100,000 jobs over 20 years, the company said in a statement

Shares of Adani Enterprises erased gains and traded flat in the early trade on January 10 after signing an agreement to develop solar-powered data centre parks in Andhra Pradesh.

Adani Group and the government of Andhra Pradesh signed a memorandum of understanding (MoU) to build data centre parks up to 5 GW capacities in and around Visakhapatnam over the next 20 years.

"Adani Group will invest Rs 70,000 crores, potentially creating over 100,000 jobs over 20 years," the company said in a statement.

The stock traded flat after gaining as much as 2.5 percent initially on the BSE, quoting at Rs 153.15.

Source: moneycontrol.com

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