Shares of Adani Enterprises jumped on Australian coal project hopes. The stock jumped as much as 7.7 per cent in its biggest intraday percentage gain since June 6.
The company said said it plans to begin work on the controversial Carmichael coal project in Australia, which has been delayed for years by court challenges, in October.
Adani added it plans to make first shipment of coal from its Australia mine in March 2020.
Up to Friday's close, the stock had risen 42.6 per cent this year.