Adani Enterprises shares surge as Group confirms participation in 5G auction
New Delhi, July 11: Shares of Adani Enterprises rose substantially on Monday after the Adani group cleared the air about its participation in the upcoming 5G spectrum auction.
Confirming several media reports, Gautam Adani-led Adani group on Saturday said it will participate in the bidding process of the 5G telecom spectrum auction. However, the group has no intention to enter the consumer mobility space.
At 1.30 p.m., the shares of the company traded at Rs 2,348, up 2.4 per cent from Friday’s closing.
“As India prepares to roll out next-generation 5G services through this auction, we are one of the many applicants participating in the open bidding process,” Adani group spokesperson said in a statement.
