Page 16 - Adani Enterprises

Expect stable cash flows and earnings in FY24, Adani tells banks

Gross debt at Rs 2.27 trillion in FY23 after repayment

Adani Power inks an agreement with MPSEZ Utilities for power supply

The power supply agreement is for 15 years, the company said

Congress raises questions over Maharashtra govt's Dharavi project rebidding

The Congress on Tuesday alleged that the Maharashtra government's Dharavi project rebidding "deliberately excluded" the previous winner, and asked if the tender conditions were changed to help Prime Minister Narendra Modi's "favourite business group" Adani. The opposition led by the Congress has been seeking a Joint Parliamentary Committee probe after the Hindenburg Research made a litany of allegations against the Adani Group, including fraudulent transactions and share-price manipulation. The Gautam Adani-led group has dismissed the charges as lies, and said they comply with all laws and disclosure requirements. In a statement, Congress general secretary Jairam Ramesh said that as part of the party's 'Hum Adani ke Hain Kaun (HAHK)' series in February it had asked Modi to explain the change in bid conditions that excluded the previous winner of a tender to redevelop Mumbai's Dharavi area and "allowed the Adani Group to win a fresh tender with a much lower bid". Citing news reports

Adani's Rs 20,000-cr FPO subscriber info not available: Sebi to RTI query

"The respondent, in response to the aforesaid queries, informed that the information sought is not available with Sebi," noted the Appellate Authority under the RTI Act

Stocks to Watch: TCS, HDFC Bank, Adani Ent, Sugar, Paras Defence, BHEL

Stocks to watch today: Lenders of debt-ridden Reliance Capital (RCap) have fixed April 26 as the new date for the second auction. As per the earlier schedule, it was to be held on April 11

Adani Enterprises Ltd incorporates subsidiary Pelma Collieries for coal

Adani Enterprises Ltd (AEL) on Tuesday said it has incorporated a wholly-owned subsidiary for carrying out coal washery related business. "The company has incorporated a WOS (Wholly-Owned Subsidiary) Pelma Collieries Ltd (PCL) on April 7, with an initial authorised share capital of Rs 10,00,000 and paid-up share capital of Rs 5,00,000," it said in a regulatory filing. The entity will carry on business to develop, erection, operate of coal washery, including coal handling systems and to do all necessary and incidental activities in this regard, the filing said. It will commence its business operations in due course.

Congress questions LIC's 'increased' holding in Adani Enterprises

The Congress on Tuesday alleged that public-sector LIC is being "forced" to use its policyholders' funds to "bail out" the Adani group and stressed the demand for a JPC probe is "essential and urgent". Congress general secretary communications Jairam Ramesh claimed in a statement that Life Insurance Corporation of India (LIC) holding in Adani Enterprises, one of the listed companies of the Adani Group, at the end of June 2021 was 1.32 per cent and by the end of December 2022, it reached 4.23 percent. "The revelation that LIC's holding in Adani Enterprises has increased while its stock value has fallen sharply once again strengthens the case for a JPC (Joint Parliamentary Committee) to investigate the PM-linked Adani 'Mega Scam'," Ramesh said on Twitter. He said "serious questions" began to be raised about the Adani Group on January 24, 2023 "Now it turns out that LIC's holding in Adani Enterprises had further increased to 4.26 percent by the end of March 2023," he said. The LIC ha

Adani Green, Adani Enterprises shares jump after group issues clarification

On Monday, Adani Group said that the transactions that have been inquired about in an FT report have been publicly disclosed

Adani pins hopes on 20% earnings growth every year to repay $23 bn debt

Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities, energy, cement and data centres, to repay about USD 23 billion of debt over the next 3-4 years in a comeback strategy, sources said. Adani group executives have met bankers, bond holders, analysts and investors from Singapore to the US in the last three weeks to address stakeholders' concerns in the aftermath of a damning US short seller report that ripped off USD 135 billion in market value of listed companies of the conglomerate. Sources aware of the development said Adani at these roadshows presented the growth story of the sprawling conglomerate that is refocusing its energies on higher efficiency in business and bringing down debt rather than breakneck speed expansion. The group saw a 20 per cent growth in EBITDA or earnings before interest, taxes, depreciation, and amortization, helping it pare debt. Between 2013 and 2022, ...

The next day: Adani Group stocks rise after group denies news reports

As a result, the combined market capitalisation of the group rose by over Rs 20,000 crore

Six Adani Group stocks locked in 5% lower circuit; ACC hits 52-week low

The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares

Stocks to Watch: Indian Oil, NTPC, HDFC AMC, Uno Minda, Sterling and Wilson

Stocks to Watch: RIL/ONGC/Oil India may be in focus as the windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne

3 Adani group stocks out of ASM, Should you be bullish?

Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles

Hindenburg fallout: Adani suspends work on Rs 35K-cr petchem project

Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project

Shares of seven Adani Group end higher, Adani Enterprises jumps 2%

Shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets. At the close of the session, seven of the group firms including Adani Enterprises closed in the green territory while three were in the red. Shares of Adani Enterprises climbed 1.88 per cent to settle at Rs 1,877.15 per scrip on BSE. The flagship firm's market valuation rose to Rs 2.13 lakh crore. Adani Transmission closed at Rs 1,024.85 and Adani Green Energy at Rs 816.80. The scrip of these companies bounced 5 per cent each and also closed at their upper price bands on the bourse. Shares of Adani Wilmar jumped 1.52 per cent to end at Rs 427.35 apiece, Adani Total Gas rose 1.07 per cent to settle at Rs 897.95 and Adani Power went up 0.60 per cent to close at Rs 199.95. Also, shares of Adani Ports and Special Economic Zone (APSEZ) gained 0.14 per cent to settle at Rs 680.10 per scrip on the BSE. On the

Vinod Adani part of promoter group of various listed firms: Adani Group

This comes after questions were raised about his status following short-seller Hindenburg Research naming him prominently in its January report

Adani's investor Elara also a co-owner with conglomerate in ADTPL: Report

Elara holds a 1.6 per cent stake in Adani Enterprises, 3.62 per cent in Adani Transmission and 1.62 per cent in Adani Total

Mutual funds pare holdings in Adani Group stocks in February, shows data

Ambuja Cements and Adani Enterprises were also among the top five large-cap companies that witnessed selling by MFs

Four Adani Group stocks hit upper circuit today: All you need to know

Adani Group stocks: Last night, it was reported that Gautam Adani and his family had prepaid all loans backed by the company shares

India Ratings lowers outlook on Adani Enterprises, Adani Green to negative

Flags interest rate risks, uncertainty on cash flow mismatches