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Brokerage firm Bernstein said concerns surrounding the Adani Group following the 2023 short-seller episode and subsequent US regulatory developments now appear largely behind the group, potentially paving the way for a revival in foreign funding and broader investor participation. In a report covering four listed Adani companies - Adani Ports and Special Economic Zone, Adani Green Energy, Adani Power and Ambuja Cements - Bernstein said many global funds had stayed away from the group pending clarity on US-related developments, leaving several stocks under-owned despite strong operational execution. The report said the settlement of the US SEC case and moves by US prosecutors to drop charges against the group had removed a major overhang on Adani stocks, many of which still trade below pre-crisis levels despite a sharp recovery from earlier declines. "The group has gone through two big events in the last 4 years - the short seller event in January 2023 and US SEC-DoJ related ...
Adani Power on Thursday said it has entered into definitive agreements to acquire a 24 per cent stake in Jaiprakash Power Ventures and other thermal assets from Jaiprakash Associates for about Rs 4,193.59 crore. According to a regulatory filing, the company has also inked a Share Purchase Agreement for the acquisition of 24 per cent shares of Jaiprakash Power Ventures Ltd, held by Jaiprakash Associates. Further, Adani Power has inked a Business Transfer Agreement for the acquisition of the 180 MW thermal power plant of Jaiprakash Associates located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by Jaiprakash Associates. It stated that the consideration for 24 per cent of the shareholding of JPVL, held by JAL, stood at Rs 2,993.60 crore and for the 180 MW thermal power plant of JAL located in Churk and other related assets, including 11.49 per cent shares of Prayagraj Power Generation Company Ltd, held by JAL, is Rs
Adani Group on Monday agreed to pay USD 275 million to settle allegations of violation of US sanctions on Iran, with the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) saying the Indian conglomerate extended "extensive cooperation" with the investigation and made "proactive" disclosures. Adani Enterprises, the group's flagship firm, had bought shipments of liquefied petroleum gas (LPG) from a Dubai-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran. The settlement does not constitute a finding of guilt or wrongdoing and resolves all related liabilities. "AEL agreed to settle its potential civil liability for 32 apparent violations of OFAC's Iran sanctions," OFAC said. From November 2023 to June 2025, AEL purchased shipments of LPG from a Dubai-based trader purporting to supply Omani and Iraqi gas. While the Dubai supplier represented itself as a reputable middleman supplying LPG primarily from Oman, as well as Iraq, in .
Congress leader Rahul Gandhi on Friday accused Prime Minister Narendra Modi of signing a trade deal with the US only to secure the "release" of billionaire businessman Gautam Adani. "Compromised PM did not strike a trade deal, but a bargain for Adani's release," Gandhi said in a post in Hindi on X, after reports that the US has agreed to settle the lawsuit that accused Adani of hiding alleged bribery. The US government has agreed to settle the lawsuit filed against Adani, who is accused of duping investors by concealing that his company's huge solar energy project in India was being facilitated by an alleged bribery scheme, according to court filings published Thursday. Reacting to the reports, Congress general secretary in-charge communications Jairam Ramesh said it was now clear why the PM agreed to the "hopelessly one-sided Indo-US trade deal that was really a steal by the US". "And it is also clear why he abruptly halted Operation Sindoor on May 10, 2025, acting on President ..
The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the two petitions filed by Vedanta Ltd, where the mining group challenged the selection of Adani Enterprises' bid for debt-ridden Jaiprakash Associates Ltd (JAL). A two-member bench comprising Chairperson Ashok Bhushan and Member Technical Barun Mitra said: "No grounds have been made out by the appellant (Vedanta) to interfere with the decision of the adjudicating Authority (NCLT)." "There is no merit in the appeal. Both appeals are dismissed. There shall be no orders to pass," said NCLAT. The decision of the Committee of Creditors was based on "overall consideration of the respective resolution plan and was taken in its commercial wisdom," said the appellate tribunal. NCLAT also said there has been "no material irregularity committed by Resolution Professional while conducting the plan resolution process." NCLAT also dismissed Vedanta's plea, where it had questioned the evaluation metrics adopted and had said
Sagar Adani, Executive Director of Adani Group entity Adani Green Energy Ltd (AGEL), on Wednesday called for building robust domestic infrastructure to ensure energy security in a bid to withstand global shocks and disruptions, especially wars and conflicts. Addressing a session at Resilient Futures Summit organised by Economist Enterprise, the industrialist advocated for energy security and noted that countries should shift their priorities from how fast they can grow to how well they can withstand disruptions. "We've all seen how conflict in one region can disrupt supply chains across continents. We've all seen how shocks in energy markets can ripple through economies overnight," he said, noting that the question for every nation is no longer just how fast can you grow, it is: How well can you withstand disruption." Highlighting that energy is the foundational element, he said water security needs energy for desalination, treatment, and distribution, while food security needs ener
Adani Airport Holdings Ltd and MakeMyTrip on Monday announced a partnership to enable international travellers browse and pre-book duty-free products on the travel booking platform before departure or arrival at Adani-managed airports. Adani Airport Holdings Limited (AAHL) operates duty-free outlets across Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur and Thiruvananthapuram. Additional services will be introduced in phases, MakeMyTrip stated.
Adani Enterprises Ltd (AEL) said its step-down unit has incorporated three wholly-owned subsidiaries focused on hotel and real estate development as part of its airport city expansion strategy. Adani Airport City Ltd, a step-down wholly-owned subsidiary of the company, has set up Adani Navi Mumbai Airport City Ltd, Adani Guwahati Airport City Ltd and Adani Ahmedabad Airport City Ltd. The new entities will undertake real estate activities including construction, along with hotels featuring integrated restaurants, banquets and business centres, according to a regulatory filing by the company. The newly incorporated entities "shall be engaged in the business of real estate activities with own or leased property, construction of buildings carried out on own - account basis or on a fee or contract basis - hotels with integrated restaurants, banquets and business centres," it said. It however did not elaborate if the plan included construction of hotels within the vicinity of airports it
The US Securities and Exchange Commission and Indian businessmen Gautam Adani and Sagar Adani have jointly requested a US court for more time to file key submissions in a civil securities case, proposing a revised schedule for motions and responses. In a filing before the US District Court for the Eastern District of New York, the parties said they had conferred in line with the court's April 7 directive and agreed on a new timeline, which has been submitted for approval to Judge Nicholas G Garaufis. The SEC had sued Adani Group founder Gautam Adani and his nephew, Sagar, in November 2024, alleging they had misled investors by failing to disclose an alleged bribery scheme tied to Indian state officials, framing the case under US securities laws. Denying all allegations, the two, through their lawyers, on April 7, filed a pre-motion letter ahead of a planned April 30 motion, seeking dismissal of a fraud lawsuit, arguing the case represents an impermissible extraterritorial applicatio
Tycoon Gautam Adani has overtaken fellow Gujarat business czar Mukesh Ambani to become Asia's richest person, as a sustained rally in shares of his ports-to-energy conglomerate lifted his net worth. With a net worth of USD 92.6 billion, Adani surpassed Ambani, whose fortune stands at USD 90.8 billion, to become the richest person in India and Asia, according to the latest billionaire rankings. Adani, founder of his eponymous group, oversees India's largest private seaport network, is the country's biggest renewable energy producer and private airport operator, and ranks among the world's largest coal traders. He is currently ranked No. 19 on the Bloomberg Billionaires Index, which tracks the world's 500 richest individuals and is updated daily. Adani's wealth is largely derived from his shareholdings across the group's 10 listed companies. A recent surge in Adani Group stocks has added billions of dollars in market value, underscoring strong investor appetite for assets linked to .