Page 38 - Adani Group

Market outlook Jul 02: GIFT Nifty hints muted open; Allied Blenders to list

Pre-market: Experts highlight these key levels on the Nifty and Bank Nifty for Tuesday; 3 other SME stocks to debut; What's new on Adani-Hindenburg front?

Adani Group's solar firm seeks visas for vendors' Chinese workers

Company cites lack of Indian expertise

Adani Group announces merger, ownership restructuring for its cement assets

As part of the scheme, Adani Cementation will be merged with Ambuja, while Adani Cement Industries will become a wholly-owned subsidiary of Ambuja Cements

Ambuja Cements board approves Adani Cementation's merger with company

Adani group-owned Ambuja Cements on Thursday said its board has approved the merger of Adani Cementation, which is now a subsidiary of Adani Enterprises. After the approval of the Scheme of Amalgamation of Adani Cementation, after regulatory and shareholders approval, it would become a wholly-owned subsidiary. The merger is totally based on share swapping and Adani Enterprises will get 8.7 million shares of Ambuja Cements. The consolidation of cement capacities within Adani Group is "to enhance operational efficiency" and strengthen Ambuja Cements' coastal footprint. The scheme has a "SWAP ratio of 174 shares of Ambuja Cements Ltd for every 1 share of Adani Cementation Ltd (ACL)," it said. Adani Cementation Ltd is wholly owned by Adani Enterprise Ltd. This will help in a better synergy for Ambuja Cements as ACL's presence at strategic locations near Dahej port and Amba River - Raigad. It will enable source clinker by Sea as well as Rail to serve high growth market of South Gujara

Adani group to press the pedal on its retail play through super app

Group's B2C initiative aims to connect with 500 mn users by 2030

Ambuja Cements, Ravi Sanghi to offload 3.52% stake in Sanghi Industries

Adani group firm Ambuja Cements and Ravi Sanghi, the promoters of Sanghi Industries, will sell 3.52 per cent stake in the Saurashtra-based cement manufacturer. The Offer-for-Sale (OFS) will open on Wednesday for non-retail investors and on Thursday for retail investors, Sanghi Industries said in a regulatory filing on Tuesday evening. "Ambuja Cements and Ravi Sanghi (the seller/promoters) propose to sell up to 90,92,000 equity shares of Sanghi Industries representing 3.52 per cent of the total issued and paid up equity share capital of the company," it said. Shares of Sanghi Industries, in which the majority stake was acquired by Adani group firm Ambuja Cement last year, were trading at Rs 102.35, higher by 0.09 per cent on the BSE in morning deals. Calculated on the basis of current market price, this OFS will fetch Rs 93.05 crore. In the last one year, shares of Sanghi Industries peaked at Rs 151.85 on January 15, 2024. "The offer shall take place over two trading days on a sep

Adani Group to invest Rs 1.3 trn in FY25; raise up to $3 bn in equity

Bulk of the investments will be in the airport and green energy businesses, says senior executive

Regulator notices citing 'lapses' received by group 'trivial': Adani CFO

Led by billionaire Gautam Adani, the group has faced regulatory challenges in India since a report by short seller Hindenburg Research in January 2023

Regulator notices citing 'lapses' received by group 'trivial': Adani CFO

Led by billionaire Gautam Adani, the group has faced regulatory challenges in India since a report by short seller Hindenburg Research in January 2023

Adani to invest Rs 1.3 trn in FY25 across portfolio companies, says CFO

The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation

Adani to invest Rs 1.3 trn in FY25 across portfolio companies, says CFO

The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation

We are well positioned to capitalise on country's infra spending: Adani

The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on India's infrastructure spending

Hindenburg report timed to disrupt FPO, company growth strong: Gautam Adani

Addressing an annual general meeting with shareholders, Adani Group chairman Gautam Adani pointed out that certain sections of the media played a role in amplifying the attack

Adani Group may merge all cement assets under single entity: Jefferies

Executives from Adani Cement told Jefferies they are exploring plans for consolidating all cement companies in the medium term

Adani draws Rs 9.26 cr salary in FY24, lower than his executives, peers

India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives. Adani, 61, drew salary from only two out of the 10 companies in his ports-to-energy conglomerate, annual reports of the 10 listed entities of the group showed. His remuneration for 2023-24 from the group's flagship firm Adani Enterprises Ltd (AEL) included Rs 2.19 crore salary and perquisites, allowances and other benefits worth Rs 27 lakh. The total remuneration of Rs 2.46 crore was 3 per cent more than the previous financial year, according to AEL's 2023-24 annual report. Besides, he drew Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ). Adani's salary is lower than heads of almost all large family-owned conglomerates in India. While the richest Indian, Mukesh Ambani has been foregoing his entire salary since Covid-19 broke out prior to which he had capped his remuneration at Rs 15 .

Sri Lanka SC asks govt & Adani group to respond over wind power project

Sri Lanka's Supreme Court has given Prime Minister Dinesh Gunawardena, the Cabinet and the Adani Group three weeks to file preliminary objections to a petition filed by an environmental group against the wind power project undertaken by the Indian conglomerate in the country. Sri Lanka's Adani Group renewable project entails two wind energy projects; a 250 MW in the northeastern district of Mannar and a 234 MW project at Pooneryn in the north. The total investment was to be USD 750 million. On Tuesday, a three-member bench of the apex court gave the prime minister, the Cabinet and the Adani Group three weeks to file preliminary objections to the rights petition against the project. An 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. They had also .

Will invest $100 bn in energy transition over next decade: Gautam Adani

Adani group will invest more than USD 100 billion (around Rs 835 crore) in energy transition projects and manufacturing capability to produce every major component required for green energy generation, its chairman said on Wednesday. Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolyzers for making green hydrogen, wind power turbines and solar panels. Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale. "The next decade will see us invest more

TMC MPs meet Sebi officials, seek probe into stock market 'manipulation'

A delegation of Trinamool Congress MPs met officials of the Securities and Exchange Board of India (SEBI) here on Tuesday and demanded a probe into the alleged stock market manipulation following exit polls earlier this month. The delegation, comprising TMC MPs Kalyan Banerjee, Sagarika Ghose and Saket Gokhale, was joined by Shiv Sena (UBT) MP Arvind Sawant and former NCP (SP) MLC Vidya Chavan. Notably, Congress MP Rahul Gandhi had alleged that Prime Minister Narendra Modi and Union Home Minister Amit Shah were "directly involved" in what he described as the "biggest stock market scam" with retail investors losing Rs 30 lakh crore due to the market crashing after the Lok Sabha poll result earlier this month. The BJP has dismissed his charges as "baseless". West Bengal Chief Minister and Trinamool Congress (TMC) head Mamata Banerjee has demanded an investigation into how stock markets were "manipulated by using fake exit polls". After the meeting, Kalyan Banerjee told reporters, SE

Adani Ports leads global peers in market value as cargo volumes surge

Adani Ports & Special Economic Zone Ltd.'s market capitalisation has climbed to about $37 billion

Dharavi project: No land to Adani group, transfer to Maharashtra govt dept

The multi-crore Dharavi slum redevelopment project involves no land transfer to the Adani group but to the Maharashtra government's departments, and the Ahmedabad-based conglomerate, as a project developer, will build houses that will be handed over to the same departments for allotment to residents of Asia's biggest slums, sources said. Denying allegations of land grab made by MP Varsha Gaikwad, sources close to the project said land parcels are to be transferred only to Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the state government's housing department. Adani Group, which won the Dharavi slum redevelopment project in open international bidding, will build tenements - housing and commercials - through its joint venture company Dharavi Redevelopment Project Private Ltd (DRPPL) with the Maharashtra government, again hand them over to DRP/SRA of the Maharashtra government for allocation as per survey findings. Trying to clear misconceptions over the ...