The reason for the spectacular performance by the company inthe stock markets is the announcement of the company winning a project fromNHAI (National Highway Authority of India) which is worth Rs 1,169 crore.
Specifically, the project has been won by Adani RoadTransport Limited (ARTL), which is a wholly-owned subsidiary of Adani Enterprises.
Talking about technical analysis, the about 4% rise today madethe stock of the company touch Rs 1150.2. Interestingly, the stock has gainedabout 8% in the last two trading days.
Further, today the stock opened with a gap up i.e. the firstprice printed and the last price printed in the previous working day had avacuum. The gap-up was a huge 2% to the upside.
Also read: Adani Ports now owns Krishnapatnam Port
Now, taking about the fundamental analysis trigger for the positiveperformance today, the company revealed in its filing to the stock exchanges, "ARTLhas received a letter of award (LOA) for the below mentioned road project inOdisha: Development of Six Lane Badakumari - Karki Section of NH-130-CD Road from km 179 plus 000 to km 226 plus 500under Raipur-Visakhapatnam Economic Corridor in Odisha on HAM (Package - 0D-3). "
So, as Indian recovers from the pounding its economyreceived at the hands of the pandemic Covid 19, people who invested in the rightcompanies at the right time at the right price are being rewarded by the stockmarkets.
Now, the question for those who are sitting on huge profits is,“Should I sell Adani Enterprises or keep holding for any future potential gain?”