Page 46 - Adani Group

Adani Total Gas Q4 results: Profit rises 59% to Rs 165 cr, revenue up at 5%

Adani Total Gas Ltd, the city gas retailing joint venture of Adani group and TotalEnergies of France, on Tuesday reported a 59 per cent rise in March quarter net profit on the back of a surge in CNG sales volumes. The company posted a net profit of Rs 165 crore in the January-March period as against Rs 104 crore in the same period a year back, the company said in a statement. The firm, which retails CNG to automobiles and pipes natural gas to household kitchen for cooking purpose, saw a revenue increase of 5 per cent to Rs 1,257 crore while EBITDA surged 49 per cent to Rs 305 crore the quarter. CNG sales rose 20 per cent to 149 million standard cubic metres and piped natural gas sales were up 15 per cent to 83 mmscm. For the full fiscal year, the company reported a net profit of Rs 653 crore on a revenue of Rs 4,813 crore. This compared with Rs 530 crore net profit on a revenue of Rs 4,683 crore in 2022-23. ATGL said it added 91 new CNG stations to take the strength to 547 across

Q4FY24: Indian Oil, REC, Havells India among 56 firms to post results today

Q4 FY24 results: Adani Energy, Adani Total Gas, Central Bank of India, Indus Towers, Procter & Gamble Hygiene & Health Care, Castrol India to post financial results

Sensex, Nifty eye new highs; All you need to know before mkt opens April 30

Pre-market update Tuesday, April 30: Q4 earnings, US Fed decision, global markets to dictate market trend today. Adani shares likely to be in limelight.

AdaniConneX secures $1.4 bn to power its digital eco-friendly plans

The equal joint venture between Adani Enterprises and EdgeConneX plans to build 1 GW data centred

APSEZ's Vizhinjam Port gets nod to run as India's first transshipment hub

In December 2015, Adani Ports and Special Economic Zone Limited (APSEZ) initiated the international transshipment project in Vizhinjam, Kerala

ACC Q4 results: PAT grows over three-fold to Rs 749 crore, revenue up 13%

Revenue from operations rose nearly 13% to Rs 5398 crore, helped by a 22.4% rise in consolidated sales volumes

Changing complexion: Adani stocks now have prominent investor base

FPIs under question no longer have significant exposure to these stocks

Reliance tops India Involved Ranking; measures commitment to Vikasit Bharat

Reliance Industries has topped the India Involved Ranking 2023 that measures how India Inc is committed to Vikasit Bharat. The ranking and the index has been put together by Skoch, a leading Indian think-tank dealing with socio-economic issues and focusing on inclusive growth, after a six month-long study, analyzing a number of companies across 231 indicators to rank the top-20 corporates on comprehensive 'India Involved Ranking'. It is followed by Hindustan Unilever and Adani Group. Jio Platforms Limited topped the 'India Involved Ranking in Digital Transformation'. It is followed by Lupin and Heritage Foods. Hindustan Unilever topped India Involved Ranking in ESG, followed by Adani Group and Britannia. Bank of India topped India Involved Ranking in Corporate Excellence, followed by HDFC Life Insurance and Aditya Birla Health Insurance, according to a Skoch release. Reliance Industries has always followed its 'We Care' philosophy, which puts doing good before doing well. "We car

Explained: Sebi's probe into Adani Group and foreign portfolio investors

Sebi suspects some FPIs investing in Adani group companies might not be genuine public shareholders, but rather acting as proxies for the Adani promoters (owners)

12 offshore funds investing in Adani Group breached disclosure rules: Sebi

Sebi has issued notices to 12 offshore investors earlier this year associated with the Adani group, seeking clarification on the violations of disclosure requirements and investment limits

AdaniConneX in talks with banks to raise $900-950 mn in offshore loan

The funding arrangement entails an interest rate set at 250-260 basis points above the Secured Overnight Financing Rate (SOFR) and spans a duration of six years

Adani infuses Rs 8,339 crore in Ambuja Cements, raises stake to 70.3%

Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity. The Adani family previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, it has completed Rs 20,000 crore planned infusion, the company said in a statement. "The promoters of the company - Adani family - has fully subscribed to the warrants program in the company by further infusing Rs 8,339 crore, thereby infusing a total amount of Rs 20,000 crore," it said. The latest infusion raises the Adani family stake in Ambuja Cement by 3.6 per cent to 70.3 per cent. In all, its holding in Ambuja Cement has increased from 63.2 per cent to 70.3 per cent. The fund infusion will help Ambuja accelerate its growth ambitions to almost double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes

Zee removed from F&O; FPIs up holdings in 7 Adani group companies

Adani Ports & SEZ has seen the highest increase at 26 basis points (bps) to 14.98 per cent followed by Adani Wilmar and Adani Green at 12 bps each

Ambuja Cements to buy grinding unit in TN at a total value of Rs 413.75 cr

The acquisition will aid in enhancing the company's coastal footprint across southern markets of Tamil Nadu and Kerala

Ambuja to acquire My Home Group's grinding unit in TN for Rs 413.75 cr

Ambuja Cements on Monday said it will acquire My Home Group's cement grinding unit at Tuticorin in Tamil Nadu for a total value of Rs 413.75 crore. The company -- a part of the Adani Group -- has signed a definitive agreement to acquire the cement grinding unit of the My Home Group, which has a capacity of 1.5 MTPA, Ambuja Cements said in a statement. "The acquisition estimated at a total value of Rs 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala," it added. The total cement capacity of Adani Group stands at 78.9 MTPA, the company said. "In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilisation," Ajay Kapur, CEO, Cement Business, Adani Group, said. The grinding unit is spread across 61 acres near the Tuticorin Port with a ..

LIC sees 59% increase in value of investments in Adani Group stocks

LIC, the state-owned insurance behemoth, has seen a 59 per cent rise in value of its investments in Adani group companies in 2023-24 fiscal year after the conglomerate made a smart recovery since being hammered by a damning short seller report. The value of LIC's investment in seven Adani group companies has soared from Rs 38,471 crore as on March 31, 2023 to Rs 61,210 crore on March 31, 2024, registering an increase of Rs 22,378 crore, according to stock exchange data. Last year, the insurance giant faced intense scrutiny over its decision to invest in the Adani group amidst a political slugfest after allegations of stock manipulation fuelled by Hindenburg report. Adani group denied any wrong doing. Adani Group's stocks, which at lowest point took a beating of about USD 150 billion, have staged a remarkable comeback, fuelled by robust profit growth across its diverse businesses. Facing political pressure, LIC strategically reduced its exposure to two of the group's flagship compa

Adani Group targets one-fifth share in Indian cement market by FY28

Gautam Adani-led Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to "remain debt free," said an investor presentation shared by Ambuja Cements. Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16 per cent to reach 140 MTPA (million tonnes per annum) by FY2028. "Adani Cement market share targeted to be 20 per cent by FY'28 from current 14 per cent," the Adani group firm said. Presently, Adani Cement is the second leading company in the sector after the Aditya Birla group firm UltraTech Cements. Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cement annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently

Adani Group seeks $750 mn from banks to pay for conversion of warrants

As of March, Adani family had reportedly made an initial payment of Rs 6,661 crore for the conversion of warrants allocated by Ambuja Cements

Adani Green in talks to raise $400 mn in offshore loan for upcoming project

The foreign currency loan could range from seven to ten years, with the pricing likely linked to the Secured Overnight Financing Rate, said the people, who asked not to be named

Adani, TotalEnergies to set up EV charging stations at new MG dealerships

A unit of a joint venture between Adani group and French energy giant TotalEnergies will set up EV charging stations at new MG dealerships to bolster the charing network, the company said on Monday. "Adani TotalEnergies E-Mobility Limited (ATEL), a wholly-owned subsidiary of Adani Total Gas Limited (ATGL), and MG Motor India signed a memorandum of understanding (MoU) to strengthen the EV charging infrastructure in India," it said in a statement. In terms of MoU, ATEL will set up CC2 60 kW DC chargers at upcoming MG dealerships to bolster the charging network and enhance customer accessibility. "The partnership will also provide a comprehensive solution encompassing supply, installation, commissioning, operations, and maintenance of charging infrastructure. In addition, a digital platform will be launched to facilitate a seamless customer experience, covering discovery, user authentication, charging, and billing settlement through a dedicated mobile application," it said. Adani-Tota