Page 46 - Adani Group

Adani group in talks with sovereign funds to raise up to $2.6 billion

Group plans to fund airport expansion, green hydrogen biz

'Cash-for-query' case: Mahua Moitra submits her response to CBI questions

TMC leader and former Lok Sabha member Mahua Moitra has sent her response to a questionnaire by the CBI on allegations of corruption in raising questions in the house, officials said Thursday. The CBI is examining the response after which it will send a report to anti-corruption ombudsman Lokpal which had referred the matter to the agency, they said. The agency is conducting a preliminary inquiry into the allegations against Moitra on the reference from the Lokpal. The CBI is also understood to have spoken to lawyer Jai Dehadrai and businessman Darshan Hiranandani in connection with its inquiry, they said. Queries sent by PTI to Moitra remained unanswered and the CBI has also maintained silence on the issue. BJP Lok Sabha MP Nishikant Dubey had accused Moitra of asking questions in Lok Sabha to target the Adani group and Prime Minister Narendra Modi at the behest of businessman Darshan Hiranandani in exchange for gifts. He had also accused Moitra of compromising national security

Adani Group, Hindalco, Eicher: Five stocks to watch out for on Wednesday

Stocks to watch on Wednesday, February 14, 2024: Shares of Adani Group are likely to be in focus as ratings agency Moody's upgraded outlook on four of the group companies.

Moody's revises outlook on 4 Adani firms to 'stable' from 'negative'

The global ratings agency changed the outlook to 'stable' on Adani Green, Adani Electricity Mumbai, Adani Transmission, and Adani Energy Solutions

Adani-Hindenburg case: Plea filed in SC seeks review of Jan 3 verdict

The court had directed the markets regulator to complete its probe within three months

Adani-Hindenburg row: Plea filed in SC seeks review of January 3 verdict

A plea has been filed in the Supreme Court seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. In a significant win for the Adani Group, the apex court had declined to order a CBI or SIT probe and said in its judgement that market regulator SEBI was conducting a "comprehensive investigation" into the allegations and its conduct "inspires confidence". The petition claimed there were "mistakes and errors" in the judgment, and in light of certain new material that have been received by the counsel for the petitioner, there were sufficient reasons for a review of the verdict. The review petition has been filed by Anamika Jaiswal, who was one of the petitioners in the case. The plea, filed through advocate Neha Rathi, said the Securities and Exchange Board of India (SEBI) had in its report only updated the court about the status of the 24 investigatio

Adani begins discussions for first dollar bond sale since Hindenburg

The sprawling ports-to-power empire has trimmed debt, pared founders' share pledges and landed major projects over the past year, helping to rebuild confidence among investors and lenders

Dharavi redevelopment: Maha govt to lease salt pan lands from Centre

The Maharashtra cabinet on Monday cleared a proposal related to the Dharavi slum redevelopment project, under which 283.40 acres of salt pan lands in Mumbai will be taken from the Union government on a 99-year lease for rehabilitation purpose. The proposal, moved by the state housing department, was approved at a state cabinet meeting chaired by Chief Minister Eknath Shinde here, an official statement said. A separate proposal for handing over the salt pan lands, to be used for rehabilitation of some Dharavi residents under the slum redevelopment project, will be submitted to the Union government soon, it said. The market value of the lands, 283.40 acres in total, would be recovered from the special purpose vehicle (SPV) formed for redevelopment of the Dharavi slum colony and then handed over to the Centre, said the statement. The Maharashtra government in July last year formally awarded the 259-hectare Dharavi redevelopment project to an Adani group firm. The multi-crore project,

Sodexo, Adani Group partner to offer skill development programme for youth

Sodexo on Monday said it has joined hands with Adani to offer a comprehensive skill development programme for the youth in remote locations. The collaboration is aimed at skilling, training, and placement opportunities for the youth in remote locations, Sodexo said in a statement. The programme will pilot at Mundra and Bhuj in Gujarat comprising a batch of over 150 youth, it added. "Both organisations look forward to witnessing the positive transformation of the youth involved in the programme. "Based on the success of this initiative in Mundra and Bhuj, Adani Skill Development Centre intends to scale similar initiatives in more tier-II and III cities and remote locations with a target to upskill over 500 youth by 2024," Adani Skill Development Centre Operations Head Amitkumar Thakker said. Sodexo will lead the training initiative with the course module development, coaches and guides, on-the-job training and certification, while the Adani Skill Development Centre will recruit the

Adani Enterprises Q3 results: PAT jumps to Rs 1,888 cr, revenue up 6.5%

Higher margins and volumes in coal trading drove the division's EBITDA higher despite a fall in coal prices, Adani Enterprises said in a statement

Adani Ports Q3 result: Profits surge 68%, net profit reaches Rs 2,208 cr

Adani Ports and Special Economic Zone, India's largest private port operator, reported a nearly 68% surge in third-quarter profit on Thursday, helped by a jump in cargo volumes and higher tariffs

Adani Wilmar Q3 results: Profit falls 18.4% to Rs 201 cr on weak demand

Subdued demand from institutional clients in the edible oil segment and its lower pricing hurt third-quarter earnings, the Adani group-owned company had said in a quarterly update earlier in January

Adani Group's Ambuja Cements profit misses estimates on lower volumes

Ambuja's consolidated volumes increased 2.9% to 14.1 million metric tons in the October-December period, lower than the 5.5% growth estimated by Jefferies

TMS Ep618: Adani recovery, biannual board exams, Andrew Holland, open cells

Has Adani recovered from the Hindenburg accusations? Can biannual boards reduce student stress? Will the interim Budget be a non-event for the markets? What are open cells? All answers here

Adani Total Gas Q3FY24 results: Net profit rises 18% to Rs 176.64 crore

Gas sale volume for Q3 FY24, the company said, was up 21 per cent Y-o-Y to 224 million metric standard cubic meters (MMSCM), while the cost of natural gas dipped 4 per cent Y-o-Y

Adani Group central to India's economic ambitions, says US-based analyst

Billionaire Gautam Adani's sprawling conglomerate is core to India's ambitions to become the world's third-largest economy by 2030, as it plays a key role across the infrastructure sector, US-based Cantor Fitzgerald & Co said in a note. Adani Enterprises Ltd, the group's flagship company, can deliver a gain of more than 50 per cent, analysts Brett Knoblauch and Thomas Shinske wrote in a note dated January 28, initiating coverage of the company. "India is now the most populous country in the world and has ambitions to be the world's third-largest economy by 2030. To get there, India needs to invest in both digital and physical infrastructure, in addition to increasing its energy production, as energy consumption will be meaningfully higher," the US-based broker said. These investments, it said, are paramount for India to drive productivity growth, as GDP per capita of USD 2,250 is meaningfully below that of China (USD 12,556). "Adani Enterprises Ltd is at the core of everything ...

Adani Energy Solutions appoints Kunjal Mehta as CFO with effect from Apr 1

Adani Energy Solutions Ltd on Monday announced the appointment of Kunjal Mehta as its Chief Financial Officer with effect from April 1, 2024. The development follows the resignation of incumbent Chief Financial Officer (CFO) Rohit Soni on Monday, Adani Energy Solutions Ltd (AESL) said in an exchange filing. "Kunjal Mehta, presently serving as CFO within Adani Portfolio of Companies, will assume the role of Chief Financial Officer of the company (a key managerial personnel, categorised as senior management personnel), commencing from April 1, 2024," the company said. Soni will relinquish his position as CFO of the company from the business hours on March 31, 2024. Soni will assume the new role of CFO at Adani New Industries Ltd (ANIL), the green hydrogen arm of Adani Enterprises, the filing said. While accepting the resignation letter from Soni, the company's board also approved the appointment of Kunjal Mehta as the new CFO-designate. Mehta presently serves as CFO of Adani Electr

Adani Energy Solutions Q3 results: Net profit down 27% at Rs 348 crore

Adani Energy Solution (AEML) on Monday posted over 27 per cent decline in its consolidated net profit to Rs 348.25 crore in the October-December quarter compared to the year-ago period. The country's e largest private power transmission and distribution company had reported a consolidated net profit of Rs 478.07 crore in the quarter ended on December 31, 2022, driven by a one-time regulatory income of Rs 240 crore. AEML in an exchange filing explained that the net profit in the third quarter of this fiscal includes a miscellaneous income of Rs 136 crore on account of the USD 120 million bond buy-back. The comparable PAT of Rs 281 crore was 1 per cent higher compared to Rs 280 crore in the year-ago quarter. Total income rose to Rs 4,824.42 crore in the third quarter of FY24 from Rs 3,719.31 crore in the same period a year ago. On operational parameters, it was a strong quarter with an average system availability of over 99.7 per cent, it stated. The business added 302 circuit ...

Adani Green Q3 result: Net profit more than doubles to Rs 256 crore

Adani Green Q3FY24 results: The company's revenue from operations rose 17 per cent to Rs 2,311 crore in the quarter

Adani Ports, Power: Charts suggest up to 23% upside for these Adani stocks

Over the last one year, select Adani Group stocks such as Adani Power, Adani Green, Adani Enterprises and Adani Ports have zoomed up to 300 per cent from their February 2023 lows.