Page 19 - Adani Group

Adani Green Energy slips 4% after Amit Singh to step down as CEO; Details

Ashish Khanna, the current CEO of Adani Group's International Energy Business will be the new CEO of Adani Green Energy effective April 1, 2025

Adani Green Energy's CEO Amit Singh to step down for new role in group

He will be replaced by Ashish Khanna starting April 1, who is the current CEO of the group's international energy business

Adani Ent to exit Adani Wilmar JV; Group shares rally up to 15% in weak mkt

AEL will use the proceeds from the sale to turbocharger its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacency in primary industry.

Derivatives Market Update: JSW Energy, Adani Group stocks see long build-up

On the other hand, Cyient, CAMS, Hero MotoCorp, ICICI General Insurance, Jio Financial Services witness short build-up in trades on Monday.

Adani Enterprises revenue to jump to Rs 1.5 trn, earnings to rise 46%

Adani Enterprises Ltd, the flagship company of the ports-to-energy conglomerate helmed by billionaire Gautam Adani, is likely to see consolidated revenue grow at a CAGR of 17.5 per cent and net earnings by 45.8 per cent over 2023-24 fiscal year (FY24) and FY27, a report said. AEL is one of India's largest listed incubators which has conceived, grown, matured and demerged many successful businesses, including ports company Adani Ports & SEZ, city gas distributor Adani Total Gas, power transmission company Adani Energy Solutions, renewable energy firm Adani Green Energy, Adani Power, and commodities firm Adani Wilmar. The company is incubating airports, manufacturing solar modules and wind turbines, green hydrogen, road construction, data centre, and copper. "Adani Enterprises Ltd (AEL), the incubator of many successful industry-leading businesses, is ambitiously diversifying into green hydrogen and its ecosystem to drive future growth," Ventura Securities said in the ...

Dharavi Redevelopment Project changes name to Navbharat Mega Developers

Company says it is to avoid being mistaken for the government authority in the same space, which is Dharavi Redevelopment Authority (DRA)

APSEZ places order with Cochin Shipyard for 8 tugs in Rs 450 cr deal

Delivery of these boats will start from December 2026, and will continue till May 2028, the company said

Adani Defence acquires 86% shareholding in MRO firm Air Works at Rs 400 cr

Air Works, which has a workforce of more than 1,300 personnel, handles MRO work for commercial as well as defence aircraft

Adani to acquire 85.8% stake in Air Works for Rs 400 cr enterprise value

Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore. "Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement. With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.

Bihar attracts investment proposals of Rs 1.8 trn at global investors' meet

The Bihar government on Friday said it has attracted record investment proposals of nearly Rs 1.81 lakh crore across different sectors such as renewable energy, food processing and manufacturing from an array of corporates, including the Adani Group, Sun Petrochemicals, and others. At the end of the two-day global investors' summit Bihar Business Connect 2024, Industries Secretary Bandana Preyashi said the Bihar government has signed MoUs for setting up 423 units with an investment of Rs 1,80,899 crore. "We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore," she told reporters here. Sun Petrochemicals and Adani Group were among an array of industrial houses that lined up a record Rs 1.8 lakh crore investments across sectors in Bihar, more than triple of Rs 50,300 crore the state received at its maiden investor meet last year. Preyashi said Sun Petrochemicals will invest Rs 36,700 crore i

Adani Group plans Rs 20K crore super critical thermal power plant in Bihar

Billionaire Gautam Adani's conglomerate plans to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar even as it expands its cement, food processing and logistics business in the state. Speaking at the Bihar Business Connect 2024, Pranav Adani, Director, Adani Enterprises Ltd, said the ports-to-energy conglomerate is invested in three sectors in Bihar - logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore. "We are now going to invest another Rs 2,300 crore in these sectors. This investment will not only massively increase our warehousing and handling capacity and expand our presence in the EV, city gas distribution (CGD) and compressed biogas (CBG) space but will also generate an additional 27,000 direct and indirect local job opportunities," he said. The group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway Terminals, ICDs

HC upholds tender awarded to Adani Group to redevelop Dharavi slum sprawl

The Bombay High Court on Friday upheld the tender awarded to Adani Properties Private Limited by the Maharashtra government for the Dharavi slum redevelopment project in Mumbai. A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar dismissed a petition filed by UAE-based Seclink Technologies Corporation challenging the state government's decision to award the project to Adani Properties Private Ltd. The bench said the petition lacks force and effort and hence stands dismissed. The Adani Group had emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project and bagged it with its Rs 5,069-crore offer in the 2022 tender process. In the first tender issued in 2018, the petitioner company had emerged as the highest bidder with its Rs 7,200-crore offer. The government had, however, cancelled the 2018 tender and issued a fresh tender in 2022 with additional conditions. Seclink Technologies Corporation first challenged the cancellation of the 2018 te

Adani unveils new campaign as it looks to bounce back from US indictment

Billionaire Gautam Adani's conglomerate on Thursday unveiled a new version of its 'Hum Karke Dikhate Hai' campaign as it looks to bounce back from the damning indictment by the US authorities in an alleged bribery case. "Building on the success of its previous edition, this multi-media, multi-platform campaign moves beyond the conventional corporate strategy of emphasizing statistics and figures to focus on inspiring human-interest stories. These narratives showcase the profound, positive impact of Adani's infrastructure projects on the lives of millions of Indians," the group said in a statement. On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against chairman Gautam Adani, his nephew Sagar Adani and key executive Vneet Jaain. The charges relate to allegations of securities fraud, wire .

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

Dhaka has been behind on payments to Adani Power since supply started in July 2023

Adani Energy Solutions incorporates wholly owned subsidiary AESSTL

Adani Energy Solutions (AESL) on Thursday said it has incorporated a wholly owned subsidiary Adani Energy Solutions Step-Ten Ltd (AESSTL). The AESSTL is incorporated in India and registered with the Registrar of Companies, Gujarat in Ahmedabad on December 18, 2024 and is yet to commence business operations, a regulatory filing said. According to the filing, AESSTL is incorporated by AESL, for transmission, distribution and supply of power and other infrastructure services relating thereto. The authorised share capital as well as paid-up share capital of the arm is Rs 1 lakh. The equity shares are being acquired at a face value of Rs 10 each. The AESL will hold 100 per cent equity of the AESSTL.

Ambuja Cements to merge Sanghi Industries, Penna Cement with self

The Adani Group-promoted firm had acquired SIL and PCIL in 2023 and 2024 respectively

Bangladesh's electricity imports from Adani plant drop 33% in November

Fuel oil use for power generation in Bangladesh surged 47.8% in November, up for the third straight month after declining for 21 consecutive months, a Reuters review of data from Bangladesh's power

HC rejects plea against Adani power contract, fines petitioner Rs 50K

The Bombay High Court on Monday dismissed a petition challenging a contract awarded by the Maharashtra government to Adani Group for supply of renewable and thermal power electricity, noting the plea was "unsubstantiated and reckless". A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar also imposed a cost of Rs 50,000 on the petitioner - Shriraj Nageshwar Aepurwar - for the vague petition. Aepurwar alleged the contract awarded to the Adani Group for the supply of 6,600 megawatts of renewable and thermal power was a violation of the petitioner's fundamental right to have access to fair electricity supply at a reasonable rate. The plea also levelled allegations against former state chief minister Eknath Shinde, who is currently the deputy CM, of having been involved in corrupt practices while awarding the contract to Adani Group. The bench, however, refused to accept the contentions and said, "In our opinion, filing of such petitions containing unsubstantiated an

Bihar doubles down on major investments as industrial growth surges

Bihar, once seen as less industry-friendly, has seen a surge in big ticket investments from the likes of Adani Group to Coca-Cola as it packages its vast resources with progressive policy to lure investors. Its industries and tourism minister Nitish Mishra, with his CEO-style approach to governance, is pivoting Bihar into a state that could be a gateway for investors to eastern India. Mishra says the perception bias regarding Bihar's industrial capabilities is slowly being overcome. In recent months, Adani Group has announced investment of Rs 8,700 crore in the state, Ambuja Cements is setting up a Rs 1,200-crore unit, and Coca-Cola is expanding its bottling capacity. Bihar Business Connect-2023 -- the state's investor meet -- last year saw memoranda of understanding (MoUs) worth over Rs 50,000 crore being signed with 300 companies. And the second edition this week is expected to rake in more. Bihar's industrial potential is limitless, he says. "Bihar has been a victim of perceptio

Adani Group shares trade firm; Power, Green Energy stocks gain up to 9%

Adani Green Energy Twenty Five, a step-down subsidiary of Adani Green, has commissioned a 250 MW solar power project at Rajasthan