Adani Shares in Focus: Relief for Adani, MIAL as Bombay HC lifts stay on ground handling tender
The Bombay High Court today lifted the stay on Mumbai International Airport Limited (MIAL) from finalising a new ground handling service provider to replace Celebi, providing relief to the Adani Group, which operates the airport.
In May, the court had granted interim relief to Celebi, restraining MIAL from appointing a replacement. However, the HC today revoked that protection, observing that holding up MIAL from finalising the tender was 'not tenable.'
This development paves the way for MIAL to proceed with awarding the contract to a new service provider.
Shares of Adani Group companies were in focus today following the order. As of 12:14 PM, Adani Green Energy was up over 2%, while Adani Enterprises and Adani Total Gas gained nearly 1% each on the NSE. Other group stocks like Adani Energy Solutions, Adani Ports, and Ambuja Cement traded with mixed trends.
Market participants are closely watching further developments at MIAL, which is a key part of the Adani Group's infrastructure portfolio.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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