Stocks In News - Ex Business

1. Adani Enterprises have gone ex-gas business as the company had decided to hive off the businesses separately.
2. Investors will get one share of Adani Gas for every share of Adani Enterprises held.
3. As an effect of the split, shares of Adani Enterprises, effectively fell over 30 percent, discounting for the value of gas business. This segment will be later listed on the exchanges.
4. Earlier this year, the company had announced the demerger of its city gas distribution unit into Adani Gas. The spin-off will also provide financial flexibility to the business for raising capital, according to a statement by the firm in January 2018.
5. The company recently purchased Mumbai electricity distribution business from Reliance Infrastructure.