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Adani Defence & Aerospace has signed a five-year agreement with Indo-Russian Rifles Pvt Ltd to supply indigenously produced 7.62x39 mm ammunition for AK-203 assault rifles being manufactured in India, creating an integrated domestic supply chain for the India-Russia rifle programme. Under the agreement, Adani Defence will supply the small-calibre ammunition required for the AK-203 programme for five years, providing an Indian source of supply and supporting continuity of ammunition availability over the contract period, according to the company. The pact brings together rifle production by Indo-Russian Rifles, or IRRPL, and ammunition manufacturing by Adani Defence, linking two parts of the AK-203 programme within India's defence manufacturing ecosystem. IRRPL was established in 2019 under an India-Russia intergovernmental agreement to manufacture AK-203 rifles for the Indian Armed Forces. Its manufacturing facility is located at Korwa in Uttar Pradesh's Amethi district. The joint
Billionaire Gautam Adani urged India's credit-rating agencies on Monday to develop broader analytical frameworks for infrastructure projects, arguing that conventional models can underestimate the economic and strategic value of large platforms that create new markets and industrial ecosystems. Speaking at the CareEdge Group Annual Summit in Mumbai, the Adani Group chairman said India did not need lower credit standards but "wider lenses" to assess infrastructure whose value extends beyond the cash flows of a single asset. "India does not need lower standards. India needs wider lenses," Adani said, calling on CareEdge to develop what he described as the world's first comprehensive credit framework for "integrated platform infrastructure." The remarks come as India accelerates investment in ports, renewable energy, power transmission, digital infrastructure and manufacturing as it seeks to build a more developed economy by 2047. Adani argued that conventional credit models, often bu
HAL on Friday said it has entered into partnerships with the Indian industry-Adani Defence Systems and Technologies Ltd and BEML-for manufacturing fuselage structures for the 'Prachand' Light Combat Helicopter (LCH), further expanding India's indigenous helicopter production ecosystem. Under the agreements, Bharat Earth Movers Limited (BEML) and Adani Defence will manufacture 48 and 42 fuselage structures, respectively. Tushar Ranjan Behera, General Manager, Helicopter Division, signed the agreement with Cmde (Retd.) R. G. K. Rao, ED, Aerospace & Maritime for BEML and Prasanna Karthik, Vice President, ADSTL, for Adani Defence in the presence of the senior leadership of HAL, BEML and ADSTL, the company said in a release. "This partnership marks a significant step in strengthening India's aerospace ecosystem. For the first time, the private industry is being integrated into the production of helicopter fuselage structures. This partnership will expand capacity, strengthen the ...
A promoter group entity of Adani Power on Tuesday sold 12.48 crore shares of the company Adani Infra (India) Ltd for Rs 2,627 crore through open market transactions. According to the block deal data on the National Stock Exchange (NSE), Ardour Investment Holding Ltd, a promoter entity, offloaded 12,48,00,000 shares, representing a 0.65 per cent stake in Adani Power Ltd. The shares were disposed of at an average price of Rs 210.50 apiece, taking the deal size to Rs 2,627.04 crore. Following the latest transaction, Ardour Investment Holding Ltd's stakeholding in Adani Power has declined to 3.03 per cent from 3.68 per cent. Meanwhile, Adani Infra (India) Ltd purchased an equal number of shares at the same price. Shares of Adani Power fell nearly 2 per cent to close at Rs 209.95 on the NSE. On Monday, Adani Infra (India) Ltd, a promoter group entity of Adani Green Energy Ltd, bought a 1.03 per cent stake from another promoter arm, Ardour Investment Holding Ltd, for Rs 2,380 crore. P
Adani Infra (India) Ltd, a promoter group entity of Adani Green Energy Ltd, has bought 1.03 per cent stake in the company for Rs 2,380 crore, according to block deal data on the NSE. Adani Infra (India) Ltd purchased 1.7 crore shares, representing a 1.03 per cent stake in Adani Green Energy Ltd (AGEL). The transactions were executed on Monday at an average price of Rs 1,400 apiece, taking the aggregate deal size to Rs 2,380 crore. The seller was Ardour Investment Holding Ltd, a promoter entity of AGEL, which offloaded an equal number of shares at the same price, as per the data. Following the deal, Adani Infra's stake in the renewable energy company increased to 2.34 per cent from 1.31 per cent, while Ardour Investment Holding's stake declined to 4.01 per cent from 5.04 per cent. After the transaction, shares of Adani Green Energy Ltd (AGEL) rose 1.48 per cent to trade at Rs 1,415.60 apiece on the National Stock Exchange (NSE). Market participants said the transaction did not res