Page 40 - Adani Group

Adani One launches two variants of co-branded credit cards with ICICI Bank

Cardholders can get up to 7 per cent Adani reward points on spends within the Adani Group ecosystem

Adani Group launches co-branded credit card with ICICI, offers benefits

Adani Group on Monday announced a venture into the financial sector, launching with ICICI Bank a co-branded credit card with airport-lined benefits as it looks to leverage customer touchpoints across businesses. The group's Adani One, an app to help users book tickets, check flight status, access lounges, shop duty-free products, get cabs and avail parking, and ICICI Bank launched India's first co-branded credit cards with airport-linked benefits in collaboration with Visa. "The cards come with a plethora of benefits designed to enhance the cardholders' lifestyle and elevate their airport and travel experience. They offer up to 7 per cent Adani Reward Points on spends across the Adani Group consumer ecosystem like the Adani One app, where one can book flights, hotels, trains, buses, and cabs; Adani-managed airports; Adani CNG pumps; Adani Electricity bills, and Trainman, an online train booking platform," a company statement said. In December 2022, Adani Group launched the Adani One

Adani group shares in demand; Power, Total Gas, Green Energy rally up 16%

Adani group stocks in focus: The total market capitalisation of 10 Adani group companies increased by Rs 2.02 trillion to Rs 19.88 trillion in the intraday trade today

Two years since, Adani Cement have aimed for market inefficiencies

The entry, cement executives suggest, has either had zero impact or appears to have accelerated consolidation and its benefits for larger players

Gautam Adani reclaims title of Asia's richest man with net worth of $111 bn

With this, Adani has overtaken Reliance Industries' Mukesh Ambani after nearly 5 months

LIC's Adani group portfolio value surges 51.6% at Rs 66,000 crore

LIC trimmed its stake in group flagship Adani Enterprises from 4.26 per cent to 3.93 per cent over the past year

Adani Group firms make comeback, deliver record 45% Ebitda growth in FY24

Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday. Emerging from a damning report of a US short seller, which hit the market value of its listed companies, Adani Group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54 per cent. As much as 84 per cent of EBITDA is from 'core infrastructure' businesses, providing highly predictable cash flows. Cash profit or funds flow from operations (FFO) was at Rs 56,828 crore, registering a growth of 51 per cent year-on-year through a disciplined investment strategy providing high conversion, Adani Group said in a statement. Strong Asset Base built over three decades supporting resilient critical infrastructure stands at Rs 4,78,137 cro

Adani group shares in demand; Enterprises, Total Gas, Power rally up 14%

Adani Power hit a record high of Rs 791.95, as it zoomed 13 % in intra-day trades as India's foremost private power producer, is very well placed to benefit from the long-term power demand outlook.

Udupi Cochin Shipyard bags new order from Adani group's Ocean Sparkle

Udupi Cochin Shipyard Limited (UCSL), a wholly-owned subsidiary of India's leading shipyard, Cochin Shipyard Limited (CSL), has secured a major order from Ocean Sparkle Limited, a prominent Indian tug operator under Adani Harbour Services Limited. The contract for construction of three ASD (Azimuth Stern Drive) Tugs of 70 T bollard pull power was signed by Harikumar A, CEO, UCSL and Hiren Shah, MD and CEO, OSL, according to a CSL statement here on Friday. UCSL had earlier contracted construction of two 62 T bollard pull ASD tugs for OSL. Both these tugs were delivered by UCSL before contractual delivery dates, and have been deployed by OSL at Paradeep Port and New Mangalore Port. These new 70 Tonne bollard pull tugs will have a length of 33 metre, Beam of 12.2 metre and draft of 4.2 metre, the statement said. They will be propelled by two main engines of 1838 kW, thrusters of 2.7 metre dia, diesel generators of 150 kW, forward towing winch, aft winch, deck crane (3T) and external

Adani Group profit up 55% in FY24; eyes $90 bn investment over next decade

Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a USD 90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies. This helped net profit surge to Rs 30,767 crore for the group's listed companies in the fiscal from Rs 19,833 crore a year ago, according to exchange data and analysts. The 5-year CAGR (compound annual growth rate) for profit growth was 54 per cent. EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 40 per cent to Rs 66,244 crore despite a 6 per cent fall in the revenue. "Total group EBITDA grew 40 per cent year-on-year in FY24 (5-year CAGR of over 27 per cent), group raised fresh funds from ...

India's $100-billion mcap club grows to eight with three new entries

The Aditya Birla group has seen its market value jump by more than 50 per cent, making it the latest entrant to the $100-billion club

Trial to triumph: Adani Group firms echo message in latest annual reports

Five Adani group listed entities - NDTV, Adani Ports and SEZ (APSEZ), Ambuja Cements, Adani Energy Solutions and Adani Green Energy (AGEL), have released their annual reports so far

Adani Energy Solutions seeks shareholders' nod to raise Rs 12,500 crore

Adani Energy Solutions will seek shareholders' approval to raise Rs 12,500 crore in its annual general meeting on June 25. The company is looking to raise funds by way of qualified institutions placement (QIP) to eligible investors through issuance of equity shares and/or other eligible securities. The board of Adani Energy Solutions on Monday approved the proposal to raise up to Rs 12,500 crore through issue of equity shares on QIP basis or other modes. According to the notice for the AGM, the company will seek the approval of the shareholders at the ensuing annual general meeting scheduled to be held on June 25, 2024. The company will also seeks shareholders' approval of a resolution to appoint a director in place of Gautam Adani, who retires by rotation and being eligible offers himself for re-appointment. The board of directors had approved the raising of funds by way of issuance of such number of equity shares having a face value of Rs 10 each and/or other eligible securities

'Speculative, untrue': Paytm, Adani Group deny stake sale in fintech major

News report said coal-to-airports conglomerate is buying a stake in the digital payments firm

Adani in talks with Paytm to acquire stake? Speculative, says fintech firm

One97 Communications said reports claiming that Gautam Adani, chairman of the Adani Group, is considering acquiring a stake in Paytm's parent company One97 Communications are speculative

Adani Enterprises gets board nod to raise Rs 16,600 crore via QIP

The proceeds will be used by Adani Enterprises Ltd (AEL) for its various projects, including the expansion of airports

NCLAT upholds Adani Goodhomes plan with 93% haircut for Radius Estate

Insolvency Appellate Tribunal NCLAT has upheld orders approving Adani Goodhomes' resolution plan for realty firm Radius Estate with a 93 per cent haircut for creditors. A two-member bench comprising the NCLAT Chairman rejected the petitions by two dissenting financial creditors, saying it was "commercial wisdom" of the Committee of Creditors (CoC), which approved the payout to different creditors. The Mumbai bench of the National Company Law Tribunal (NCLT) on January 9, 2022, approved the resolution plan of Adani Goodhomes, a part of Adani Realty. As per the resolution plan, which received an 83.99 per cent of the vote of the CoC and was approved by NCLT, nearly 700 flat owners were getting possession of without escalation of any price. The plan was opposed by two dissenting financial creditors -- Beacon Trusteeship and ICICI Prudential Venture Capital Fund Real Estate -- before the National Company Law Appellate Tribunal (NCLAT). According to reports, Adani Goodhomes had propose

Adani Enterprises board approves Rs 16,600 crore fundraising via QIP

Adani Energy Solutions had earlier announced its plan to raise up to Rs 12,500 crore through QIP or other permissible modes

Adani One app may offer digital payments soon: All you need to know

Adani One app explained: In November 2022, Adani Group announced plans to roll out a 'super app' that would converge all its services. A month later, they launched Adani One

Now, Adani Group plans to enter India's digital payment, e-commerce spaces

The Adani Group plans to offer new services through its consumer app, Adani One, which was launched in late 2022. The app currently offers travel services such as flight and hotel bookings