Page 17 - Adani Group

Sri Lanka revokes Adani wind power deal; Group denies cancellation claims

Sri Lankan President Anura Kumara Dissanayake began investigations into Adani's local projects after founder Gautam Adani faced bribery allegations from the United States last year

Adani Energy Solutions Q3 results: Net profit jumps 73% to Rs 561 crore

Segment-wise, AESL said the under-construction transmission pipeline increased to Rs 54,761 crore in Q3FY25 from Rs 17,000 crore earlier

Adani Green Energy Q3FY25 results: Net profit jumps 85% to Rs 474 cr

Adani Green Energy Ltd (AGEL) on Thursday posted over 85 per cent rise in consolidated net profit to Rs 474 crore for December quarter on the back of higher revenues from power supply. The company had logged a net profit of Rs 256 crore in the year-ago period, according to a BSE filing. Revenue from power supply rose to Rs 1,993 crore in the quarter from Rs 1,765 crore in the same period year ago. "We are steadily developing the world's largest RE plant in Khavda, Gujarat as well as large-scale plants in Rajasthan and other sites, supported by well-aligned transmission planning." "Our updated strategy now includes largescale deployment of Battery Energy Storage Systems (BESS), given significant cost declines in last few quarters," CEO Amit Singh said in a statement. BESS can be deployed relatively quickly and will be crucial in grid integration, supporting rapid renewable growth and complementing the company's existing solar, wind and hydro pumped storage projects, Singh ...

Adani seeks partial de-notification of its multi-product SEZ at Mundra

Adani Ports & Special Economic Zone Ltd has approached the Centre for partial de-notification of its multi-product SEZ in Mundra, Gujarat, and the proposal will be taken up by the commerce ministry on Friday. The proposal will be discussed in the meeting of the Board of Approval, the highest decision-making body for special economic zones (SEZs). The board, headed by Commerce Secretary Sunil Barthwal, will meet here tomorrow. "Adani Ports & Special Economic Zone (APSEZ) Ltd has requested for partial de-notification of 333.7396 out of 8282.7670 Ha. As regards reasons, the developer has submitted that due to stiff competition in the solar market and severe dumping of solar equipment into India, the units in EMC (Electronics Manufacturing Cluster) are becoming economically unviable within the SEZ," according to the agenda of the meeting. To survive in this difficult market, it has become essential for these units to exit from SEZ, it noted. "In view of this, the constituent units

Adani Infra to acquire key stake in PSP Projects, CCI approval pending

Adani Infra seeks CCI clearance to acquire a significant stake in PSP Projects in a Rs 685.36 crore deal, aiming to enhance construction sector synergies

Adani Energy Solutions Q3 results: Net profit jumps 80% to Rs 625 crore

Adani Energy Solutions on Thursday posted a nearly 80 per cent rise in its consolidated net profit to Rs 625.30 crore in December quarter compared to a year ago on the back of higher revenues. The company reported a consolidated net profit of Rs 348.25 crore in the quarter ended on December 31, 2023, a BSE filing showed. Total income rose to Rs 6,000.39 crore in the quarter from Rs 4,824.42 crore in the same period a year ago.

Meet Diva Shah, daughter of diamond tycoon, set to wed Adani's youngest son

On February 7, 2025, Gautam Adani's son Jeet Adani is set to marry Diva Jaimin Shah. Diva Shah is the daughter of diamond trader Jaimin Shah, owner of C Dinesh & Co. Pvt. Ltd

From Adani to Vedanta, global giants drop anchor in Thoothukudi Port race

Adani, Vedanta, DP World among key players vying for Rs 7K crore project; bids to open on February 11, first phase set to sail by 2028

Will increase investment in UP: Adani after participating in Maha Kumbh

Gautam Adani, Chairman of the Adani Group, visited the Maha Kumbh on Tuesday along with his wife Preeti Adani and said that his group is committed to increasing investment in Uttar Pradesh. "There are immense opportunities in Uttar Pradesh, and the state government is working in the right direction for development. The Adani Group will continue to contribute to this progress. We are committed to making further investments in Uttar Pradesh," he told the media. About his experience at the Maha Kumbh, he said, "I would like to thank Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, on behalf of the citizens of the country, for the grandeur and the arrangements here." He further added, "Millions of people come to this fair, and the cleanliness and other arrangements here are a subject of study for management institutes and corporate houses. It has been an amazing experience to be here." An official from the company informed that Gautam Adani along with his wife and Adani

Adani made Rs 10,000 commission from first trade in 1981 at the age of 19

Billionaire Gautam Adani, a college dropout who built a multi-billion dollar infrastructure empire spanning ports to energy, on Monday revealed that he made a commission of Rs 10,000 from his first trade at the age of 19. Born in Ahmedabad, Adani, 62, moved to Mumbai at the age of 16 and joined a diamond assortment company. He quickly picked up trade and in about three years, started his own diamond trading brokerage in Mumbai's Zaveri Bazar. "I still recall the day I did my first trade with a Japanese buyer. I made a commission of Rs 10,000. I was 19 years old, and this was the start of my journey as an entrepreneur," he said while speaking at the Adani International School here. This was in the year 1981. He soon returned to Gujarat to help his elder brother Mahasukhbhai run a small-scale PVC film factory the family had acquired in Ahmedabad. In 1988, he set up a commodities trading venture under Adani Exports and listed it on the bourses in 1994. The firm is now called Adani ...

Two of the world's largest law firms to defend Adani in US indictment case

These law firms are the Chicago-based Kirkland & Ellis and Los Angeles-based Quinn Emanuel Urquhart & Sullivan LLP which specialises on business litigations

Adani Energy Solutions' order book grows to Rs 54,700 cr with new projects

Adani Energy Solutions Ltd, India's largest electricity transmission and distribution company, has won two new transmission projects, helping swell its order book to Rs 54,700 crore -- more than three times of the work order it had at the start of current fiscal in April 2024. In October-December 2024 -- the third quarter of the fiscal year April 2024 to March 2025 (FY25), won two new transmission projects worth Rs 28,455 crore in Rajasthan, related to the renewable energy park, Jefferies said in a report. The orders include the 25,000-crore Bhadla-Fatehpur HVDC project, which is AESL's largest order win till date. These order wins have pushed up the company's market share in TBCB (tariff-based competitive bidding) orders to 24 per cent, from 17 per cent in the second quarter. AESL's current order book now stands at Rs 54,700 crore, as compared to Rs 17,000 crore in the beginning of the current financial year. This is the highest order book amongst all private sector transmission .

Iskcon, Adani Group tie up to give meals to nearly 100k daily at Maha Kumbh

The International Society for Krishna Consciousness (ISKCON), in partnership with the Adani Group, is providing meals to nearly one lakh people daily at the ongoing Maha Kumbh, a spiritual organisation's official said. At a camp on Harshvardhan Marg here, ISKCON's one kitchen prepares food for 30,000 - 35,000 people in one session, and more than one lakh people are served food in three sessions a day, its Director (CSR) Madhukant Das told PTI. ISKCON's food -- which includes dal, chole or rajma, vegetables and roti and rice, and halwa or boondi laddu in sweets-- is completely balanced. These meals are prepared on a clay stove over a fire of wood and cow dung cakes, which makes them taste amazing, he added. Das said meals are being distributed at 40 centres across Prayagraj, including bus stands, railway stations and several holding areas, where the crowd of devotees are halted on the main bathing days. He also informed that the food is also being distributed to 15,000 employees ...

Dubai's Emaar confirms stake sale talks with Adani Group for Indian ops

Dubai's Emaar confirms it's in talks with Adani Group to sell a stake in its Indian subsidiary. The deal, valued at Rs 40-50 billion, is still being finalised

Hindenburg Research announces winding up of operations; Adani shares rally

The firm's founder Nate Anderson posted about the disbanding on Hindenburg's website without specifying any single reason for the decision

Hindenburg's Nate Anderson: Man who 'shook empires that needed shaking'

In his parting shot, Anderson said he was naïve about the dangers he would face when he started Hindenburg but was drawn to the path he chose "magnetically"

Adani group stocks rally as Hindenburg shuts shop, NDTV surges over 9%

Adani group stocks rallied on Thursday after Hindenburg Research, which made international waves with campaigns targeting billionaire Gautam Adani that wiped billions from market value of his group companies, founder Nate Anderson announced its shutdown. Shares of NDTV surged 9.15 per cent, Ambuja Cements jumped 3.88 per cent, Adani Green Energy rallied 3.35 per cent, Sanghi Industries climbed 3.34 per cent and Adani Power went up by 2.45 per cent on the BSE. The stock of Adani Ports advanced 2.03 per cent, Adani Total Gas (1.78 per cent), Adani Enterprises (1.74 per cent), Adani Energy Solutions (1.54 per cent) and ACC (0.77 per cent). Shares of Adani Wilmar, however, declined 1.19 per cent. In intra-day trade, NDTV zoomed 15.59 per cent, Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent, Adani Enterprises climbed 7.72 per cent, Adani Total Gas jumped 7.10 per cent and Adani Energy Solutions advanced 6.63 per cent The stock of Adani Ports climbed 5.48 per

Trump 2.0 or scrutiny on short sellers? Why Hindenburg Research shut shop

Was it regulatory scrutiny, Trump's political resurgence, or personal stress? Hindenburg Research's exit sparks debate on the future of activist short-sellers

'Kitne ghazi aaye, kitne ghazi gaye': Adani CFO after Hindenburg shutdown

Hindenburg Research, which had accused Adani Group of financial mismanagement, caught many by surprise by announcing its sudden shutdown

Hindenburg, Adani, and Buch: The investigations that shook markets

Hindenburg's reports revealed major corporate issues, including Adani's $100 billion market loss and other industry investigations. The firm has now announced its closure