Adani Enterprises opened strong today, 1% higher at Rs.2100 and rose to an intraday high at Rs.2212.95, rising almost 6.5%. Its 52-week high stands at Rs.2420.
The stock price rose after it announced today morning that it has entered into a new partnership with TotalEnergies of France, to jointly create the world’s largest green hydrogen ecosystem.
In this strategic alliance, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises.
ANIL’s ambition is to invest over USD 50 billion over the next 10 years in green hydrogen and associated ecosystem. In the initial phase, ANIL will develop green hydrogen production capacity of 1 million ton per annum before 2030.