Adani Group MML has been formed with the aim of bidding for liquor and tobacco duty free shops at Macau International Airport. Macau International Airport had floated an open tender in August for duty free alcohol and tobacco service, which will close on November 29.
On one hand, the central and state governments in India earn the most by imposing taxes on cigarettes and liquor. On the other hand, India’s second richest businessman Gautam Adani is planning to earn big money by selling tax free liquor and cigarettes. Yes, but his plan is for Macau Airport. In fact, Adani Group has planned to bid to open duty-free shops at Macau International Airport. India’s largest airport operator group has planned to operate duty-free shops at foreign airports to increase its presence abroad.
This is the whole matter
The group’s flagship company Adani Enterprises told the stock market that it has formed a subsidiary company MTRPL Macau Limited (MML) in Macau. The company said that MML has been formed with the aim of bidding for liquor and tobacco duty free shops at Macau International Airport. Macau International Airport had issued an open tender in August for duty free alcohol and tobacco services, which will close on November 29. This airport has the capacity to handle 60 lakh passengers annually.
Airport out of Adani’s hands
Adani Group had entered the airport business in the year 2019. The group has six airports in the country – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. The company also has 73 percent stake in Mumbai International Airport Limited. This business is done through Adani Airport Holdings Limited, a unit of Adani Enterprises.
Adani Enterprises shares rise
However, today there was an increase in the shares of Adani Enterprises. By the time the market closed, the company’s shares had reached Rs 2195.15 with a rise of 2.15 percent. However, today the company’s shares opened at Rs 2158. Reached the day’s high with Rs 2232. The company’s market has now crossed Rs 2.50 lakh crore. Once the company had come in the list of top 10 companies. After the report of Hindenburg Research, the company’s shares fell and the market cap also reduced significantly.
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