Mumbai Metro 3 Introduces Free Bus Service Between Airport's A2 And T2 Gates

The Mumbai Metro Rail Corp., through its official 'X' account, announced the launch of a bus service for Mumbai Metro Line 3 passengers from the A2 entry gate on the west side to the P4 entry gate in Terminal 2 of the airport, which is used for international flights.

The bus is a '21-seater' and will run every 15 minutes, from 6:30 a.m. to 11:00 p.m. on Monday to Saturday and 8:15 a.m. to 11 p.m. on Sundays.

"Chatrapati Shivaji Maharaj's International Airport Terminal T2 is 500 m away from the A2 entry of Metro 3 T2 station. Permanent, seamless connectivity to the airport will be available after Mumbai Metro Rail Development Authority's underground station of Line 7A is completed and also after Mumbai International Airport Ltd. builds forecourts above stations. Till then MMRC introduces this facility for passengers," Ashiwini Bhide, the Managing Director of Mumbai Metro Corporation, said.

Phase 1 of Mumbai Metro Line 3 (also known as the Aqua Line) opened on Oct. 8 of this year and stretches from Bandra-Kurla Complex to Aarey Colony, covering 12.69 km. The route is part of the larger 33.5-km Colaba-Santacruz Electronics Export Processing Zone-Aarey Metro Line 3.

Mumbai International Airport Ltd. is a subsidiary of Adani Airport Holdings Ltd., which in turn is a subsidiary of Adani Enterprises Ltd.

Shares of Adani Enterprises Ltd. closed 0.07% higher at Rs 3,103.25 apiece on the NSE, compared to a 0.28% decline in the benchmark Nifty 50. The stock has fallen 8.98% on a year-to-date basis and 26.49% over the past 12 months.

The stock closed 0.87% higher at Rs 3,128.00 per share.

Out of the three analysts tracking the company, three have a 'buy' rating on the stock, none suggest a 'hold' and none recommend a 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential upside of 36.3%.