Confirms MOU with Embraer to build regional aircraft ecosystem in India
ADANIENT · price
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On the reaction day the stock moved 0.7 pts more than Nifty 100 and 0.9 pts more than its Metals & Minerals Trading peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Adani Enterprises clarified to the stock exchange about a recent share price movement. It confirmed that its wholly owned subsidiary Adani Defence Systems and Technologies has signed an MOU with Brazil's Embraer S.A. to develop a regional transport aircraft ecosystem in India. The two firms will now work on cooperation details before entering into definitive agreements. The company said the price movement was purely market driven and no fresh material event requiring further disclosure exists at this stage.
Positive confirmation of tie-up with a global aircraft major; strengthens the defence and aerospace growth story for the Adani group.