Page 15 - Adani Group

Adani Green Energy arm bags 1250 MW pumped hydro storage project from UPPCL

Adani Green Energy on Tuesday said its arm Adani Saur Urja has bagged an order from Uttar Pradesh Power Corporation (UPPCL) for procurement of 1,250 MW energy storage capacity from pumped hydro storage projects. Adani Saur Urja, a wholly-owned subsidiary of the company, has received a Letter of Award (LOA) from UPPCL in this regard. The capacity is secured through the e-Reverse Auction conducted by UPPCL, a regulatory filing said. According to the statement, the Annual Fixed Cost payable under the LOA stood at Rs 76,53,226 per MW per annum (taxes extra) for the entire period of 40 years from the commercial operation date.

Adani Power share jumps 10% on heavy volume; other Group stocks rise too

Adani Power share price: Adani Power share surged in trade on news of Vidharbha Industries acquisition

Smallcap company, Jyoti Structures, bags Rs 389-cr order from Adani Energy

Jyoti Structures share price: Excluding Adani Energy's latest order, Jyoti Structures boasts of orders worth approximately Rs 2,000 crore, in hand

MPGIS 2025: Talks underway on setting up Deregulation Commission, says PM

Speaking at the MP Global Investors Summit 2025 in Bhopal, Adani mentioned that the Adani Group is in talks with the state government for additional investments

Adani Group releases tax transparency reports to rebuild investors' trust

The reports, published independently by seven of the group's listed entities, detail direct and indirect tax contributions across global

Adani lines up Rs 30K cr investment in Kerala for port, airport expansion

Gadkari assures Rs 3 trillion worth of road projects in state during current tenure of central government

'Not a personal matter': Rahul Gandhi slams PM Modi over Adani bribery case

Last year, US Department of Justice accused Adani of being involved in a plan to pay a bribe of over $ 250 million to secure the solar power contracts in the US, worth billions of dollars

Adani Green Energy in talks with PFC to restructure $1.1 bn loan in rupees

The proposed fundraising comes after Adani Green Energy scrapped a $600 million dollar bond amid the US probe against founder Adani and and his nephew, Sagar Adani

Adani Group plans to invest Rs 30,000 cr in Kerala in next 5 years

Adani Group will invest Rs 30,000 crore in Kerala in the next five years, a top executive said on Friday. The diversified group that is developing the Vizhinjam port and operating the airport at Thiruvananthapuram, will be developing a logistics and e-commerce hub as well as expanding its cement manufacturing capacity in the state. The group is developing the Vizhinjam port and has already invested Rs 5,000 crore. "We are committing an additional investment of Rs 20,000 crore," Adani Ports & SEZ Ltd Managing Director Karan Adani said at the Invest Kerala Global Summit here. He said the group will be expanding the capacity of the Thiruvananthapuram airport from 4.5 million passengers per annum, to 12 million passengers per annum with an investment of Rs 5,500 crore. Also, a logistics and e-commerce hub will be set up in Kochi and the cement manufacturing capacity will be increased in Kochi, he added. In total, Adani said the group will invest Rs 30,000 crore in the next five years

Stocks to Watch, Feb 21, 2025: Religare Ent, CIE Automotive, TCS, Vedanta

Stocks to Watch, Feb 21, 2025: Here is a list of stocks that could be buzzing in trade today

Ten Adani Group stocks settle in green; Adani Wilmar, NDTV climb over 3%

Ten Adani Group stocks ended higher on Thursday after the group said it has enough cash to service debt obligations and that its business achieved record pre-tax profits in the 12 months ending December 2024. Shares of Adani Wilmar jumped 3.48 per cent, NDTV surged 3.11 per cent, Adani Ports climbed 2.85 per cent, ACC rallied 1.10 per cent, Adani Energy Solutions went up by 1.04 per cent, Adani Total Gas (0.89 per cent), Ambuja Cements (0.61 per cent), Adani Power (0.44 per cent), Sanghi Industries (0.20 per cent) and Adani Green Energy (0.03 per cent) on the BSE. However, the stock of Adani Enterprises dipped 0.06 per cent. Adani Group on Thursday said it has enough cash to service debt obligations and that its business achieved record pre-tax profits in the 12 months ending December 2024 as it looked to reassure creditors and investors of a robust business profile. Cash balances exceed long-term debt repayments for the next 28 months, while portfolio-level cash balances were at R

Adani Group touts cash, strong Ebitda growth to reassure investors

Adani Group on Thursday said it has enough cash to service debt obligations and that its business achieved record pre-tax profits in the 12 months ending December 2024 as it looked to reassure creditors and investors of a robust business profile. Cash balances exceed long-term debt repayments for the next 28 months, while portfolio-level cash balances were at Rs 53,024 crore, the port-to-power conglomerate said in a report for the first nine months of the financial year ending March 2025 released on Thursday. "Sufficient liquidity is maintained across portfolio companies to cover debt servicing requirements for at least the next 12 months," it said. The cash balance as of September 30, 2024, compared with the Rs 59,791 crore balance generated in the full 2023-24 financial year (April 2023 to March 2024 or FY24 fiscal). Cash balance represents 20.5 per cent of gross debt. "These expanding cash flows have enabled consistent investments while keeping the leverage at an all-time low.

Adani Portfolio posts double-digit growth, record Ebitda till Dec 2024

Adani Portfolio, India's largest infrastructure group with businesses in cement and mining, has continued its strong double-digit growth despite external challenges. For the twelve-month period ending December 2024, EBITDA reached Rs 86,789 crore, marking a 10.1 per cent year-on-year growth. Adjusted for prior income, the growth stands at 21.3 per cent. In the December quarter alone, EBITDA rose 17.2 per cent to Rs 22,823 crore, a company statement said. A key to this growth is the emerging businesses under Adani Enterprises, including solar and wind manufacturing and airports. These businesses, part of AEL's infrastructure division, grew 45 per cent Y-o-Y in the December quarter and 33.3 per cent in the trailing twelve-month period. Since FY19, the Adani Portfolio has shown strong growth, with EBITDA expanding at a CAGR of 25 per cent, despite challenges such as the Hindenburg report and the ongoing US indictment. Around 85 per cent of the group's profits come from its infrastruc

PM Modi declared Adani issue personal matter, will he oblige US SEC: Cong

The Congress on Wednesday said Prime Minister Narendra Modi has already declared the Adani issue to be a personal matter and asked whether he would oblige the US Securities and Exchanges Commission's (SEC) request in the ongoing probe against the business group. The opposition party's assertion came after the SEC told a federal judge in New York that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are ongoing. This included a request for assistance to the Indian authorities. Congress general secretary in-charge communications Jairam Ramesh said the SEC has just informed a New York district court that it has sought the assistance of the Modi government to serve complaints on the violations of US laws by Gautam Adani and some of his colleagues. "The PM has already declared the Modani issue to be a personal matter. Will he oblige the SEC?" Ramesh said on X. To a question on whether the issue relating to Adani figured in the talks, Modi

Adani stocks crack up to 5% as US SEC seeks India's help in bribery case

Adani bribery case, Adani share price: US federal prosecutors have accused Gautam Adani of bribing Indian government officials to buy electricity from Adani Green Energy

Efforts to serve complaint on Gautam Adani, Sagar Adani ongoing: US SEC

The US Securities and Exchange Commission (SEC) has told a federal judge here that its efforts to serve its complaint on Gautam Adani and Sagar Adani in the alleged bribery scheme are ongoing, including through a request for assistance to the Indian authorities. The SEC submitted a status update Tuesday to Judge Nicholas Garaufis at the United States District Court, Eastern District of New York regarding its efforts to serve its complaint on Gautam Adani and Sagar Adani. The SEC said that both Gautam Adani and Sagar Adani are located in India, and the SEC's efforts to serve them there are ongoing, including through a request for assistance to the Indian authorities to effect service under the Hague Service Convention for Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters. The SEC said that its complaint dated November 20 last year alleges that Gautam Adani and Sagar Adani violated the antifraud provisions of the federal securities laws by knowingly

US SEC requests help from Indian authorities in Adani fraud probe

Last year, federal prosecutors in Brooklyn unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy

SL president Dissanayake says no regret over Adani exit from energy project

Sri Lanka President Anura Kumara Dissanayake here on Monday said his government does not have any regret over Adani Group quitting its green energy projects in the island. "We have got an offer to provide wind power at 4.65 US cents so why would we cry over losing an offer at 8.26 cents?" Dissanayake, who is also the finance minister, said without naming the Adani Green Energy during his 2025 Budget presentation. Adani last week announced that they were quitting the over USD 400 million investment for its green energy project in the northeastern region of the island. "There are those who are crying claiming an investor had left the country," Dissanayake said, referring to opposition criticism that the NPP government policies would scare away potential investors. Adani Group left the project after the Dissanayake government decided late in December to review the Adani wind power project and renegotiate the power purchase agreement. The project had also met legal snags with ...

Adani Group pledges Rs 2,000 crore to establish schools across India

Adani group on Monday announced Rs 2,000 crore donation for building at least 20 schools across the country as it continued to reveal details of the Rs 10,000 crore charity committed at the wedding of founder Gautam Adani's younger son. The conglomerate had previously announced Rs 6,000 crore for constructing hospitals and another Rs 2,000 crore for skill development. The Adani Foundation, the philanthropic arm of Gautam Adani-led group, "has collaborated with GEMS Education, a global leader in private K-12 education, to establish temples of education across the country. "With an initial donation of INR 2,000 cr from the Adani family, the partnership will prioritize making world-class education and learning infrastructure affordable to people from all strata of society," it said in a statement. Earlier this month, Adani had committed to spending Rs 10,000 crore on social causes when his younger son Jeet tied nuptial knots. Stating that the partnership with GEMS Education will also

Adani-backed firm among 3 finalists for India's small satellite rocket bid

That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market