Page 18 - Adani Group

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

Adani Total's Dhamra LNG terminal expansion not imminent: CEO Lamba

Lamba said the 5 million tons per annum (mtpa) LNG terminal on India's east coast operated at an average utilisation rate of 25 per cent in 2024

Adani Group signs $207 million private loan for Australia coal port unit

The ability for Adani to secure new debt demonstrates that it is recovering from a fallout after the US indicted Gautam Adani over a bribery plot in November

FCPA suspension may delay legal action against Adani Group in US: Experts

US President Donald Trump on Monday signed an executive order directing the DOJ to halt all prosecutions of Americans accused of bribing foreign officials

Bombay HC allows Adani group to cut 209 mangroves for power line project

The Bombay High Court has permitted the Adani group to cut 209 mangroves for the construction of a high voltage transmission line proposed to increase electricity supply in the city and suburbs, noting it was a project of public importance. The electricity transmission line construction project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry any further power into the city, a division bench of Chief Justice Alok Aradhe and Justice Bharati Dangre said in its order on February 6. The HC allowed a petition filed by the Adani Electricity Mumbai Infra Limited, seeking permission to cut 209 mangroves near Vasai creek for setting up a High Voltage Direct Current (HVDC) link between two of its transmission substations. The project involves an 80 kilometre stretch, of which 30 km would be overhead transmission lines and the remaining 50 km would be underground cable in the mangrove area. The HVDC lines would pass through Mumbai, Thane a

US Congressmen slam Biden admin for 'misguided crusade' against Adani Group

The six Congressmen questioned why the DOJ proceeded with the indictment despite the allegations being centred in India, involving Indian officials

Adani group stocks in focus; Enterprises, Power, Green Energy gain up to 4%

Gautam Adani, Chairman of the Adani Group, has announced the launch of Adani Health City integrated health campuses, to be implemented through the Group's not-for-profit healthcare arm

Adani plans to donate Rs 6,000 cr to set up health infra with Mayo Clinic

The AHCs will comprise 1,000-bed multi-specialty hospitals, medical colleges and research facilities, among others

Adani to spend Rs 6,000 cr on setting up health infra with Mayo Clinic

Adani Group will spend Rs 6,000 crore in setting up two 1,000-bed multi-specialty hospitals and medical colleges in Mumbai and Ahmedabad in partnership with Mayo Clinic. The expenditure is part of Rs 10,000 crore that Gautam Adani, chairman of Adani Group, had pledged when his younger son Jeet got married last week. Mayo Clinic, the world's largest integrated not-for-profit medical group practice, will provide technical expertise, Adani Group said in a statement. "Adani Group will fully meet the cost of building affordable, world-class medical care and medical education to people from all strata of society pan India," it said. "The family will donate upwards of Rs 6,000 crore to build the first two of these integrated health campuses in Ahmedabad and Mumbai." Gautam Adani has plans for more such integrated Adani Health Cities in cities and towns across India, the statement said without giving details. Each of these integrated campuses will comprise 1,000-bed multi-super-specialty

Adani Wilmar bets on urban revival, quick grocery delivery to boost growth

Top executives in sectors such as consumer goods and automobiles expect India's plans to cut personal income tax rates

Adani, Tata profit misses add to concern over stock market outlook

Citigroup Inc. and HSBC Holdings Plc are among banks that have cut profit forecasts as the latest earnings from some of India's top firms

Hindenburg's Nate Anderson stands by Adani report: 'No threat behind closure'

Founded in 2017, Hindenburg Research made money by placing bets against companies it investigated, profiting from their stock price declines after exposing fraud and corporate abuses

Adani Ports share price drops 8% after Q3FY25 results; reasons here

Adani Ports missed the Bloomberg estimates, which projected its net profit at Rs 2,589.4 crore, a jump of 17.3 per cent year-on-year, according to reports

Adani, JSW, investors eye Arshiya Ltd's assets amid insolvency process

Adani Ports, JSW Infrastructure, and key investors express interest in acquiring Arshiya Ltd, a logistics firm undergoing insolvency resolution with liabilities over Rs 6,647 crore

Adani Group gets CCI clearance to acquire majority stake in ITD Cementation

The Competition Commission of India on Tuesday approved Adani Group's arm Renew Exim DMCC's proposal to acquire a majority stake in ITD Cementation India for about Rs 5,757 crore. ITD Cementation India Ltd is an engineering and construction company undertaking heavy civil, infrastructure and engineering, procurement and construction (EPC) business and operating in India and overseas. "The proposed combination involves the acquisition by Renew Exim DMCC (acquirer) of approximately 46.64 per cent equivalent to 8,01,13,180 shares of the total issued and voting equity share capital of the ITD Cementation India Ltd (target)," the Competition Commission of India (CCI) said in a release. Renew Exim DMCC is incorporated in Dubai, United Arab Emirates, and belongs to the Adani group. It is a holding company engaged in the business of investment in commercial enterprises and management and does not have any operations in India. Pursuant to the Sebi's SAST (Substantial Acquisition of Shares a

Sri Lanka to renegotiate wind power purchase pact with Adani Green Energy

The Sri Lanka government will renegotiate the power purchasing agreement with Adani Green Energy for a 484 MW wind power project to bring the cost under USD 0.06 per unit, an official said on Tuesday. "We would want it to be below 6 cents US," government spokesman Nalinda Jayathissa told reporters here. The previous government's decision to sign a 20-year power purchase agreement for the 484MW wind plants at 8.2 cents US was disputed as local bidders had offered lower unit prices. Jayathissa's NPP had earlier vowed to annul the Adani green energy project. The new government in December decided not to sign an agreement at the purchase prices agreed by the previous government in 2023. The government refuted news reports that the Adani Green Energy projects in the northeastern regions of Mannar and Pooneryn projects are to be cancelled. However, the government-appointed committee would review the whole project. Adani Green Energy had also earlier rejected reports that the project h

Adani Group commits Rs 2.3 trillion investment in Odisha over next 5 years

Adani Group on Tuesday committed to investing Rs 2.3 lakh crore over the next five years across power, cement, industrial parks, aluminium and city gas expansion in Odisha. According to a statement by the group, the investment commitment was made during Utkarsh Odisha 2025 - the state's investor meeting. Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), met state Chief Minister Mohan Charan Majgi and exchanged MoUs for investment in Odisha over the next five years, it added. "The Adani Group committed to invest Rs 2.3 lakh crore over the next five years across power, cement, industrial parks, aluminium, city Gas etc," the statement said. It, however, did not give details. "This is the biggest investment intent by any group in Utkarsh Odisha 2025." Also, the first test flight landed at Dhamra Airstrip successfully on Tuesday. Additionally, on the occasion of Utkarsh Odisha, six projects of ATGL in Odisha were commissioned. These include an EV charging station

No change in strategy, focus: Adani Wilmar Deputy CEO & CFO, and MD & CEO

We are considering a couple of options for the name change. And of course, when Adani exists, they would certainly not like to have Adani name being associated with the company, Shrikant Kanhere said