As Adani Group Set To Acquire Trainman, Shares Fall Over 1%

Shares of Adani Enterprises Ltd witnessed a decline of over 1% in morning trade on Monday after Adani Enterprises Ltd informed BSE on June 16 about its plan to acquire 100% stake in Stark Enterprises Private Ltd, also known as Trainman. Meanwhile, Indian Railway Catering Tourism Corp ruled out the possibilities of facing any competition from Adani Group's acquisition of Trainman. Check Details below:

Adani Enterprises To Acquire Trainman: According to the BSE filing of Adani Enterprises, "With reference to the captioned subject, we would like to inform you that Adani Digital Labs Private Limited ("ADL"), a wholly owned subsidiary of the Company has signed a Share Purchase Agreement ("SPA") in relation to its proposed acquisition of 100% stake in Stark Enterprises Private Limited ("SEPL"), also known as Trainman, an online train booking and information platform."

Adani Enterprises Stock Performance & Return: Current market price of Adani Enterprises share is Rs 2483.60 per share at 10:25 am on BSE. The stock's 52-week high price is Rs 4189.55 apiece and 52-week low price is Rs 1017.10 per share, respectively. The company has a market capitalisation of Rs 2,83,022.38 crore. Adani Enterprises shares fell 0.33% in last 1-week. In last 2-weeks, Adani Enterprises stock surged 1.81%, gave 26% return in last 1-month, and 32% return in last 3-months. In last 6-months, Adani Enterprises share declined 39%, gave return of 18% in last 1-year, 66% return in last 2-years, and gave 1521% return in last 3-years.

Adani Enterprises About: It is engaged in the business of coal and power trading. Adani Enterprises Limited (AEL) is the flagship company of the Adani Group, one of India's largest business organisations.The company operates via the various segments such as Integrated Coal Management, Mining and Services, Solar Manufacturing, Shipping, and Uncubating Business, among others.

About Trainman: Trainman is a train booking app, a Gurugram-based startup, which is an authorized IRCTC partner. Established in 2016, Trainman is an all-in-one train ticket booking platform that provides a one-stop solution for Booking Train Tickets online, for checking PNR status, and predicting 94% accuracy of Ticket confirmation status before booking on waitlisted tickets. Trainman has successfully raked in over Rs 100 crore in annual ticket sales with over 2.5 crore visits. Trainman is a profitable firm and it expects to see multifold growth in the coming years, according to its LinkedIn page.