Adani plans to start producing around 10 million tonnes of coal a year and eventually ramp up to 27.5 million tonnes at the mine
The subsidiary was formed on December 26 with an authorised and paid-up share capital of Rs 100,000
The stock moved 8% higher at Rs 170 on BSE on back of heavy volumes after the company said it will fund the entire cost of its controversial Queensland coal mine and rail project in Australia.
Founded in 1988, Adani has grown to become a global integrated infrastructure player
Adani Enterprises and French energy giant Total SA Wednesday announced a partnership to develop liquefied natural gas import terminals and fuel retailing network in India.
The stock moved higher by 7% to Rs 161, bouncing back 15% from its early morning low of Rs 140 on the BSE on back of heavy volumes.
Adani Green Energy, Adani Transmission and Adani Ports and Special Economic Zone were up in the range of 2% to 7% on the BSE.
The stock surged 12% to Rs 148 on the BSE on back of heavy volumes
The company, without disclosing the name of the buyer, said 'the buyer does not belong to the promoter/promoter group/ group companies'
We have a mine in Indonesia, and we are looking for more options there: Rajendra Singh,
The country is pricing the entrepreneurial genius of Gautam Adani and his capacity to grow existing businesses
Adani Enterprises Ltd (AEL) has a renewable energy portfolio of 2,148 MW in India
It would look to sell a minority stake in the project to help raise funds
The group has no option but to go ahead with the project even as tide turns against coal globally
In the past one year, the scrip rallied 63.2% against just 17% gains in Sensex
State govt ruled out use of public money to subsidise the controversial project
Adani said its board had deferred a final investment decision that had been expected by end of May
Queensland state government has not yet signed off on a royalty deal for the mine
Victims include members of Adani 'family' who work at its Abbot Point bulk coal loading facility
The government's aim of reducing coal import and improving domestic production could pinch the plan of Adani Enterprises, one of the country's largest importers of the fuel.Some early signs are already showing. Analysts are also sceptical of the company's mining and trading targets for the year 2020.Part of the Adani Group's 'Year 2020' vision is to achieve a mining and trading volume of 200 million tonnes by then. These were set when the government had not declared an intention to cut import and Coal India, the state-owned near-monopolistic producer in the country, was lagging.There has since been a change, with a ramp-up of volumes at Coal India, in turn reducing the country's import. India is expected to import 160.2 million tonnes (mt) in the current financial year (April 2016-March 2017), down 20 per cent from a year before.According to data in the company's presentations and annual reports, its coal trading volume for 2015-2016 was 78 mt. The management expects 80 mt this ...