Adani Enterprises shares rise after issuing clarification US SEC probe, fixing record date for dividend – Business Today

Shares of Adani Enterprises were hogging the spotlight during the early trading session on Tuesday on the back of multiple factors including clarification on the US SEC matter and finalizing the record date for the dividend. The stock has rebounded sharply from Friday’s carnage. Adani Enterprises has fixed July 7, 2023 (Friday) as the record date for the purpose of determining entitlement of the members of the company, the company said in an exchange filing. The company has fixed Tuesday, July 11, 2023 as the cut-off date for determining the members holding shares in physical form or dematerialized form, for casting their votes, it said. The company had announced a dividend of Rs 1.2 apiece, 120 per cent over the face value of Re 1 each, for the financial year 2022-23. The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after July 21, 2023, subject to deduction of tax at source as applicable, the filing added.
Watch: Gautam Adani earns Rs 2.38 crore salary in FY23 as Adani Enterprises chairman; see how Adani Group went from commodity trading to ports-to-renewable energy conglomerate Following the announcement, shares of Adani Enterprises rose more than 2 per cent to Rs 2,344.30 on Tuesday, commanding a total market capitalization of more than Rs 2.63 lakh crore. The scrip had settled at Rs 2,295.70 on Monday. The stock has gained over 6 per cent in the last two sessions. Commenting on the US SEC investigation, Adani Enterprises said that it is not aware of any subpoena to the US investors. “All of our disclosures are a matter of public record. It is routine that various regulators will seek access to public material in an easy & referenceable manner,” the company said in a separate exchange filing. The expert committee, appointed by the Supreme Court of India, has already filed a report. The report states that Adani Group has taken mitigation measures such as paring down debt, fresh infusion, which led to an increase in investor confidence. Adani operates a robust corporate governance framework and is strongly committed to following all applicable laws and regulations, it added.
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