Page 15 - Adani Group

Adani, Aditya Birla Group to compete in wire, cable industry after cement

After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector. In less than a month, both groups -- who have been fiercely competing in the cement sector leaving smaller players way behind -- announced their entry into the wires and cables segment, which is dominated largely by unorganised players and some smaller companies. Entry of the two big players will intensify competition in the wires and cables industry, which posted 13 per cent compound annual growth rate (CAGR) in revenue between FY19 and FY24 and is migrating towards an organised branded market. This was evident as sensing disruption from these deep pockets, share prices of listed players in the wires and cable segments slumped a day after March 19, when Adani Enterprises informed bourses of entering the segment. Share price of Polycab India, a leader in

Ambuja Cements appoints Vinod Bahety as CEO, reassigns Ajay Kapur as MD

Ambuja Cements, part of Adani Group, in a top-level rejig, has appointed Vinod Bahety as its new CEO and designated the incumbent Ajay Kapur as the managing director. The board of Ambuja Cements has approved the "Appointment of Vinod Bahety as Additional Director and Whole-time Director and Chief Executive Officer of the Company for a term of three years", the company said in a regulatory filing. Besides, Ambuja Cements, the second largest cement producer in the country, has also announced the appointment of Rakesh Tiwary as Chief Financial Officer of the company. The board also approved the appointment of Praveen Garg as a Non-Executive Independent director on the Board of the Company for three years. All these changes are going to be effective from April 1, 2025, the filing said. Meanwhile, ACC, a step-down subsidiary of Ambuja Cement, also informed the cessation of Ajay Kapur as its whole-time director and CEO. The board of ACC also approved the appointment of Vinod Bahety as

Adani Group eyes Jaiprakash Associates acquisition by insolvency route

Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group's flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order dated June 3, 2024, passed by the National Company Law Tribunal, Allahabad Bench. Sources said that Adani Group has submitted an Expression of Interest (EOI) to acquire the bankrupt JAL. Earlier this month, the National Company Law Tribunal (NCLT) directed that the resolution plans to acquire JAL through the insolvency process should be invited for the entire company as a going concern and not by dividing its different business verticals. The JAL's total outstanding loans from banks and financial institutions stood at Rs 55,493.43 crore as of February 20, 2025. The company also recently inform

Dharavi redevelopment survey in final leg; 63K tenements assessed

The survey is being conducted to determine the eligibility of the residents and businesses of Dharavi for rehabilitation

Adani Energy Solutions wins $325 million transmission project in Gujarat

The project will create a power transmission system for a green hydrogen/ammonia manufacturing unit in Mundra, Gujarat and will be completed in three years

Adani Group defends key projects amid alleged environmental law violations

Adani Group is defending itself against allegations made in India's National Green Tribunal that it started work on a $2 billion power plant without waiting for environmental clearance

HC rejects Adani Cargo's plea against Kolkata Airport cargo terminal bid

Adani Global Air Cargo Solutions said it was excluded from participating in the bidding process due to a technical glitch that prevented it from logging in to submit its online bid

Adani, Emaar said to be discussing deal structure for $1.4 bn India unit

Adani family and Emaar are discussing the structure of a transaction, which could include an unlisted Adani unit infusing about $400 million in equity

Markets Today: GIFT Nifty; Feb WPI; Wall St.; Gold; Paradeep, Divine IPOs

At 7:00 AM, GIFT Nifty Futures were up 126 points at 22,570, suggesting a gap-up start.

Adani group commits Rs 1.1 trillion capital expenditure for FY26

To be funded through a mix of cash, debt/equity sale

Navi Mumbai Airport inauguration set for June after revised timeline

Adani Group Chairman Gautam Adani visited the NMIAL site on Sunday to review the progress of the project

Indian govt asks Ahmedabad court to serve US SEC summons to Gautam Adani

The summons would require Gautam Adani or his legal counsel to appear in the case in the United States

Adani Group wins Rs 36,000 cr Mumbai's Motilal Nagar redevelopment project

After the Dharavi slum redevelopment project, billionaire Gautam Adani's group has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar in Mumbai, sources said. Motilal Nagar I, II & III is one of Mumbai's biggest housing redevelopment projects, covering 143 acres in western suburb of Goregaon (W). Adani Properties Pvt Ltd (APPL) emerged as the highest bidder, offering more built-up area than its nearest rival, L&T, sources aware of the matter said. Letter of Allotment (LoA) will be issued in due course. This will be the second mega redevelopment project of Adani Group in Mumbai. It is already redeveloping Dharavi, one of Asia's largest slums in Mumbai. Adani Group did not offer any comments on the story. The Mumbai High Court last week gave Maharashtra Housing and Area Development Authority (MHADA) a go-ahead to redevelop Motilal Nagar through a construction and development agency (C&DA). The state government has declared it as a 'special ..

Fitch assigns negative outlook to Adani Energy citing governance concerns

Fitch assesses that the US indictment for alleged securities and wire fraud reflects a corporate governance risk

Adani Grp stocks rally: Power, Ports, Enterprises jump up to 6% on March 10

On Friday, Fitch Ratings affirmed Adani Energy Solutions Limited's (AESL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'

Fitch cuts Adani Energy's outlook to negative, cites US probe risks

The US indictment may lead to negative rating action in the near to medium term for Adani Energy

Dharavi redevelopment contract: SC seeks response from Maha govt, Adani

UAE-based SecLink Technologies had filed a plea challenging the state govt's decision to cancel its 2019 bid for the Dharavi redevelopment project and award the tender to Adani Properties in 2022

SC refuses to stay Dharavi project, asks Adani to maintain separate account

The SC ruling follows Seclink Technologies' challenge to Maharashtra's decision to award Asia's largest urban rehab project to Adani Group, disputing the bidding process

Bombay HC permits Adani Group firm to cut mangroves for jetty project

The Bombay High Court on Wednesday permitted Adani Cementation Limited to cut 158 mangrove trees for its proposed jetty project along the Amba river in Maharashtra's Raigad district. A division bench of Chief Justice Alok Aradhe and Justice Bharati Dangre, however, emphasised the importance of balancing development with environmental conservation and directed the company to strictly adhere to the conditions imposed by regulatory authorities. While the project serves commercial interests, it must not lead to excessive depletion of natural resources, the HC said. The court said a balance needs to be struck between the necessity of the project, which aims at meeting the ever-increasing need for cement, and, at the same time, not compromising the ability of future generations to meet their own needs. It is necessary to ensure that the project results in minimum damage to the environment and natural resources, particularly when the entire planet is coping with the crisis of climate ...

Adani Wilmar share price soars 7% on acquisition of GD Foods; check details

The acquisition will be executed in multiple tranches, with 80 per cent of the shares to be acquired in the first tranche, and the remaining 20 per cent to be acquired over the next three years