Adani Enterprises shares in news today, here's why 

Shares of Adani Group's flagship firm Adani Enterprises are in news today after April Moon Retail, a joint venture company of Adani Airport Holdings, completed the acquisition of a 74% stake in Cococart Ventures. Cococart Ventures is now a joint venture of Adani Airport Holdings and the company. Adani Airport Holdings is a wholly owned subsidiary of Adani Enterprises.

Adani Enterprises stock ended 4.78% lower at Rs 2135.80 on Tuesday. Market cap of the firm stood at Rs 2.48 lakh crore on BSE.

Total 5.47 lakh shares changed hands amounting to a turnover of Rs 120.17 crore on BSE.      

Adani Enterprises stock has a one-year beta of 2.1, indicating very high volatility during the period.  

In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 21.7, signaling it's trading in the oversold zone. The stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.       

The stock has risen 26.30 per cent this year and fallen 45% in two years.     

"We would like to inform you that April Moon Retail Private Limited (“AMRPL”), a joint venture company of Adani Airport Holdings Limited (“AAHL”), which is a wholly owned subsidiary of the Company, has completed the contemplated acquisition of 74% stake of Cococart Ventures Private Limited (“CVPL”) and thereby CVPL becomes joint venture of AAHL and the Company," said the firm in a communication to bourses.