Page 35 - Adani Group

Parl suddenly got adjourned, now we know why: Cong after Hindenburg claims

The Congress on Saturday used the Latin phrase "Quis Custodiet Ipsos" or "who will guard the guards themselves"? to take a swipe at SEBI chief Madhabi Buch, after US short seller Hindenburg levelled allegations against her. Hindenburg has alleged that Buch and her husband had stakes in obscure offshore funds used in the Adani money-siphoning case. Tagging the Hindenburg post on the allegations on X, Congress general secretary Jairam Ramesh said, "Quis Custodiet Ipsos Custodes (who will guard the guards themselves)." In another post on the microblogging platform, Ramesh said, "Parliament was notified to sit till the evening of August 12th. Suddenly it got adjourned sine die on the afternoon of Aug 9th itself. Now we know why." In a blogpost, Hindenburg said 18 months since its damning report on industrialist Gautam Adani, "SEBI has shown a surprising lack of interest in Adani's alleged undisclosed web of Mauritius and offshore shell entities." Citing "whistleblower documents", it .

Adani planning to raise $1.2 bn for flagship firm via share sale: Report

Adani Group is seeking institutional investors including from the US as part of its efforts to expand its shareholder base and draw more research analysts to cover the firm

'Didn't give time': Group clarifies Gautam Adani's succession plan comment

Adani Enterprises clarified that Chairman Gautam Adani's succession comments were misquoted, and no date for his retirement or transfer of control to his sons was given

Sebi proposes separate FPI registration for issuing ODIs, P-notes

Sebi had specified thresholds such as over 50 per cent exposure by an FPI in a single corporate group or Rs 25,000 crore equity exposure in India

Adani Energy Solutions raises $1 billion, gets bids from US investors

The issue received bids from utility-focussed U.S. investors entering India for the first time along with sovereign wealth funds, Indian mutual funds, and insurance companies, Adani Energy said

The Adani heirs: Meet the future leaders of a $213 billion empire

The future of the Adani dynasty rests in the hands of his two sons, Karan and Jeet, along with their cousins Pranav and Sagar

Gautam Adani plans to step down at 70, to cede control to family in 2030s

When Adani retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust

Gautam Adani plans to step down at 70, to cede control to family in 2030s

When Adani retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust

Adani to invest Rs 5,500 cr in cement unit, Bihar CM lays foundation stone

Bihar Chief Minister Nitish Kumar on Saturday laid the foundation stone for a Rs 1,600-crore cement grinding unit of Ambuja Concrete North Private Ltd, a subsidiary of Adani Group's Ambuja Cements, in Nawada district. Adani Group has decided to invest an additional Rs 5,500 crore across various sectors in the state, a statement, issued by the CMO, said. A total of 40,000 employment opportunities will be generated by these investments, it said. "The project of 6 MTPA cement grinding unit, worth Rs 1,600 crore, will be implemented in three phases. The first one of 2.4 MTPA at an investment of Rs 1,100 crore is targeted to be commissioned by December 2025. The project is expected to create 250 direct and 1,000 indirect jobs in the area," the Chief Minister's Office (CMO) said. The project is considered the largest investment in the state by a cement industry player. It will meet the growing infrastructure needs of Bihar, the CMO said. "Adani Group has decided to invest an additional

Adani's Ambuja Cement to invest Rs 1,600 cr to build grinding unit in Bihar

Adani Group-owned Ambuja Cement Ltd (ACL) on Saturday announced an investment of around Rs 1,600 crore in Bihar to set up a cement grinding unit at Warisaliganj in Nawada district. The 6 MTPA Warisaliganj cement grinding unit is the first venture in Bihar of ACL, which is aggressively expanding its capacity in the country, according to a statement from the Adani Cement entity. "The Warisaliganj Cement Grinding Unit, a standalone facility with an overall capacity of 6 MTPA (million tonnes per annum), will be established at an investment of nearly Rs 1,600 crore," it said. With this announcement, the billionaire Gautam Adani-led firm has become "the largest investment in the state by a cement industry player". "The project will meet the growing infrastructure needs of Bihar, aligning with priorities outlined in the recent Union Budget," it said. In the latest Union Budget 2024-25, the Narendra Modi-led government unveiled big-ticket projects for Bihar, proposing a total outlay of ov

Sri Lanka Supreme Court sets Oct 14 for Adani wind power projects case

Sri Lanka's Supreme Court on Friday set October 14 as the date for the hearing of five fundamental rights petitions filed against the wind power plant undertaken by the Indian conglomerate Adani Group in the north-eastern region of Mannar. The three-member bench of the apex court here ordered the respondents to file objections before September 13. Environmental NGOs had filed petitions claiming that the project endangers biodiversity and poses a threat to migratory birds. The Wildlife and Nature Protection Society filed the case, naming the government, the Board of Investment and the Central Environmental Authority among others as respondents. The environmental rights group had claimed in court that a decision by the Cabinet to treat the Adani wind power project as a Sri Lanka-India government-to-government venture was illegal and that it would cause immense damage to the migratory bird population causing environmental hazards. The group had also challenged the action by Minister

Adani Ports registers 47% jump in Q1 profit on strong cargo volumes

Shares of the Adani Group company were up 1.2% after the results, while the broader benchmark Nifty 50 gained 0.2%

Adani Enterprises board approves demerger of food and FMCG business

Adani Wilmar shares closed at Rs 348.80 per share, up 0.19 per cent on NSE, while Adani Enterprises closed at Rs 3,225.10 per share, up 1.76 per cent

Adani's Super app launches digital lending trials with fintechs and NBFCs

Launched in December 2022, 'Adani One' app provides users with a variety of services, such as cab services, flight bookings, shopping at Adani-operated airports, and rewards redemptions

Adani Energy stock zooms 18% in 3 days on buzz of strong demand for its QIP

According to media reports, AESL's $1-billion QIP got strong response and was subscribed over 6 times.

Ambuja Cements' Q1 results: Profit at Rs 789.63 cr; revenue at Rs 8,311 cr

Adani Group firm Ambuja Cements Ltd on Wednesday reported a consolidated net profit at Rs 789.63 crore for the first quarter ended on June 2024. The company had reported a net profit of Rs 1,135.46 crore in the April-June period a year ago, according to a regulatory filing by Ambuja Cements Ltd (ACL). Its revenue from operations was at Rs 8,311.48 crore during the June quarter compared to Rs 8,712.90 crore in the corresponding period last fiscal. According to ACL, the financial results for the current quarter, preceding quarter and FY24, also include the financial results of Sanghi, which was acquired in August last year. It also has results of ACCPL (Asian Concretes and Cements Pvt Ltd) ), which was acquired by its subsidiary ACC. "The results for the current quarter, preceding quarter and FY24, are not comparable with the quarter ended June 30, 2023, to that extent," it said. Total expenses in the June quarter were at Rs 7,566.91 crore. The total Income of ACL, which also inclu

Adani Power Q1 results: Net profit down 55% due to higher expenses

Total income declined to Rs 15,474 cr in the April-June quarter of 2024-25 from Rs 18,109 cr in the same quarter of the last year

JSW Cement enters race to acquire promoter stake in Orient Cement

Aditya Birla and Adani groups have been aggressively acquiring cement firms to expand their manufacturing units, JSW has not also entered the race

Vinay Rajani of HDFC Securities suggests buying these stocks on July 31

JB Chemical's price has surpassed the crucial triple top resistance placed in the range of Rs 1,920-1,930. Stock has broken out from broken out from the consolidation, which held for last four months.

Adani Energy Solutions QIP over-subscribed thrice, $1 billion raised

QIP is a fund-raising tool for companies, through which they issue equities, or other equity convertible securities to qualified institutional buyers