Page 11 - Adani Enterprises

Adani Group 'fleecing' people to the tune of Rs 12,000 crore: Rahul Gandhi

Congress leader Rahul Gandhi on Wednesday cited a media report to accuse the Adani Group of over-invoicing in coal imports and fleecing people to the tune of Rs 12,000 crore in electricity rates. Addressing a press conference at the AICC headquarters here, Gandhi attacked Prime Minister Narendra Modi, asking him to come clean on the Adani issue by initiating a probe into the matter and defend his credibility. "Why is the prime minister silent on the issueI am only helping the prime minister and asking him to come clean by starting an investigation and defend his credibility," Gandhi said. The former Congress chief displayed a recent Financial Times report at the press conference which claimed that the Adani Group appears to have imported billions of dollars of coal at prices well above market value. Gandhi claimed that as per the report Adani over-invoiced coal imports and took out Rs 12,000 crore from "people's pockets". Adani bought coal in Indonesia and when it reached India, i

Political stability must for investment in ports overseas: Karan Adani

Karan Adani, chief executive officer (CEO), Adani Ports & SEZ, and chairman of ACC, talked about the future plans for ports, airports and cement businesses in an interaction with Dev Chatterjee

MCA probes accounts of Adani Enterprises' Mumbai, Navi Mumbai airports

India's Ministry of Corporate Affairs had in February initiated another probe into the Adani Group's financial statements

Stocks to Watch: TCS, Adani Group, IndusInd Bank, Aster DM, RVNL, Cipla

Stocks to Watch on October 12, 2023: RBI has allowed SBI Mutual Fund to acquire up to 9.99 per cent stake in IndusInd Bank

HDFC Bk, HUL help Sensex cut losses, index sheds 286 pts; Nifty below 19450

Closing Bell on October 4, 2023: Nestle India, HDFC Bank, HUL, Infosys, and TCS rallied between 0.6 per cent and 3 per cent. Axis Bank was the biggest laggard, down 5 per cent

Adani Group shares in focus; Adani Enterprises up 5% as IHC hikes stake

In an exchange filing with the BSE, AEL said Green Vitality RSC had on Tuesday, Oct 3, acquired an additional 643,134 equity shares representing 0.06% total equity in the company from the open market.

Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%

Move comes a week after IHC sold its stake in Adani Green and Adani Transmission

Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%

Days after selling its stake in two of Adani group companies, Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it has raised stake in the group's flagship Adani Enterprises Ltd to above 5 per cent. In a filing to Abu Dhabi stock exchange, IHC said, "This strategic increase reflects IHC's conviction in the world leading incubation model of AEL." Stating it has increased its stake in AEL to above 5 per cent, it said it believes that "the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India's robust growth journey." "IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders' return," it added. Last week, IHC had stated that as part of a "portfolio rebalancing strategy" it will sell its 1.26 per cent stake in Adani Green Energy Ltd and 1.41 per cent stake in Adani Energy Solutions.

Adani-Hindenburg saga: Plea cites conflict of interest, seeks new SC panel

The next hearing in the case is likely on October 13

Sensex extends winning run into 11th day, gains 320 pts; Nifty nears 20,200

CLOSING BELL ON SEPTEMBER 15, 2023: The BSE Sensex hit a new life-time high at 67,927, and the Nifty registered a peak at 20,222 on Friday

Adani Enterprises-Kowa partnership for exports to Japanese market

Adani Enterprises said it has formed a joint venture company named Kowa Green Fuel Pte. Ltd, which is a 50:50 joint venture with Kowa Group

Nifty ends near 20,000-mark; Sensex zooms 528 pts amid broad rally

Closing Bell on September 11, 2023: Among sectors, the Nifty PSU Bank index surged 3 per cent, followed by the Nifty Metal and Auto indices (up 1.7 per cent each)

Adani hikes stake in two group companies to work on claw back strategy

Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses. The promoters had last month increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent. The promoter group has also increased stake in Adani Ports and Special Economic Zone Ltd from 63.06 per cent to 65.23 per cent, the filings showed. Resurgent Trade and Investment Ltd bought almost one per cent stake in Adani Ports and Special Economic Zone Ltd in open market transactions and another 1.2 per cent was purchased by Emerging Market Investment DMCC. Both are promoter group .

Promoters acquired 2.06% more stake in Adani Ent between Aug 21 and Sept 7

With this, the total promoter holding in Adani Group's flagship firm has now risen to 71.93%

Adani forms JV with Kowa Holdings for green ammonia, H2 marketing

Adani Group's earlier stated timeline to start green hydrogen generation is the end of the calendar year 2025 or the start of 2026

Weekend Bites: Beleaguered tycoon, GDP, Ambani children, and Wonderlust

In which we munch over the week's platter of news and views

What is OCCRP that has levelled allegations against Adani and Vedanta?

A report published by OCCRP has accused Adani Group of routing investments in its publicly traded stocks through "opaque" Mauritius funds. But what is OCCRP, and why is it accusing the Adani Group

Market regulator Sebi examined funds named by OCCRP in Adani Group probe

The funds named today are already a part of a regulatory probe into violations of public float norms by the Adani Group and any new facts will be considered, sources added

Adani Group, Hindenburg, Supreme Court and OCCRP: All you need to know

Just months after the Hindenburg report led to a sharp sell-off of Adani Group shares in the Indian share market, another report has come up with similar allegations. Here is all you need to know

Adani Group rubbishes allegations of 'opaque' funding by family's partners

The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained gun at billionaire Gautam Adani's group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures. The