Page 47 - Adani Group

Stocks to Watch: Healthcare, Titan, UB, Wipro, Zee, Voda Idea, Adani group

Stocks to watch on Monday, April 08, 2024: Shares of healthcare related firms likely to be in focus as Manipal nears acquisition of Medica Synergie.

Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity

Adani Group will invest about Rs 2.3 lakh crore through 2030 in India's most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India's largest renewable energy company, will invest about Rs 1.5 lakh crore in expanding capacity to generate electricity from solar energy and wind power at Khavda in Gujarat's Kutch to 30 gigawatts from 2 GW currently and another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country, a top company official said. Adani New Industries Ltd (ANIL), a unit in the group's flagship Adani Enterprises Ltd, will invest close to Rs 30,000 crore in expanding solar cell and wind turbine manufacturing capacity at Mundra in Gujarat. AGEL, which currently has an operating portfolio of 10,934 megawatts (10.93 GW), is targeting 45 GW of renewable energy capacity by 2030. 30 GW of this will come up at just on

Sebi should not become SBI, must complete Adani probe before polls: Cong

The Congress on Wednesday hoped that the SEBI tasked with probing charges of alleged stock manipulation by the Adani Group would not seek further extension for presenting its report in the Supreme Court to push the deadline past the election date. Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) should not become another SBI, which is "too scared to touch the sacred". In a post on X, Ramesh said the Hindenburg Research had levelled grave allegations of stock manipulation and violation of securities laws on the Modani group last year. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Ramesh said, "The SEBI was tasked with submitting a report on these allegations by 14th August, 2023. After it demanded repeated extensions, the Supreme Court gave SEBI time till today, April 3rd, 2024. "We look forward to the SEBI submitting its report to the Court today, and we hope it does

All Adani group stocks in high demand, Adani Energy jumps over 8%

All listed Adani group stocks were in the limelight on Monday, with Adani Energy climbing over 8 per cent, as investors flocked to the counters amid a positive trend in the broader market. Shares of Adani Energy Solutions jumped 8.40 per cent, NDTV zoomed 6.16 per cent, Adani Wilmar advanced 5.92 per cent, Adani Power surged 4.99 per cent, Adani Total Gas soared 4.81 per cent, Adani Green Energy rallied 2.93 per cent, Adani Ports climbed 2.56 per cent and ACC (2.38 per cent) on the BSE. The stock of Adani Enterprises went up by 1.80 per cent and Ambuja Cements climbed 1.49 per cent. The combined market valuation of all the group firms stood at Rs 16,30,648.23 crore. The 30-share BSE Sensex climbed 363.20 points or 0.49 per cent to settle at 74,014.55 and the NSE Nifty advanced 135.10 points or 0.61 per cent to 22,462. Both the benchmarks hit their all-time high levels in intra-day. Adani group opened a USD 1.2 billion copper plant, bought a port in Odisha, raised stakes in a cemen

Adani Group shrugs off Hindenburg effect, back to rapid expansion spree

Adani group opened a USD 1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project. It started with the March 26 announcement of Adani Ports acquiring a 95 per cent stake in Gopalpur Port for Rs 3,350 crore, taking the number of seaports under its control to 15 - the highest with any private firm in the country. This was followed by Adani Enterprises Ltd - the group's flagship firm and business incubator - announcing on March 28

Reliance picks up 26% stake in Adani's Mahan Energen power project

First instance of the two biz houses collaborating

Adani Energy mulls borrowing up to $600 mn for smart meter projects

The Indian power distribution company is in talks with a group of global lenders, with the foreign currency loan's tenor likely to be around three to five years, the report added

Adani family invests Rs 6,661 crore in Ambuja Cements via warrants

The latest fund infusion will take Adani family stake in the cement co to 66.7 per cent

Adani group begins operations of its copper unit plant at Mundra, Gujarat

Adani group on Thursday announced start of its maiden copper plant at Mundra in Gujarat. Adani Enterprises is setting up plant with 1 million tonnes capacity in two phases. "Close to $1.2 billion will be invested in the first phase," the firm said in a statement. This marks the Adani portfolio's debut in the metal industry. "The successful progress of the greenfield unit showcases the Adani Group's ability to plan and execute largescale projects," it said. Adani Enterprises is investing nearly USD 1.2 billion to set up a copper smelter with 0.5 million tonnes capacity in the first phase. On completion of the second phase that will add similar capacity, Kutch Copper, with 1 million tonnes annual capacity, will be the world's largest single-location custom smelter, benchmarking ESG performance standards while leveraging state-of-the-art technology and digitalisation. It will create 2,000 direct and 5,000 indirect employment opportunities. "With Kutch Copper commencing operations, t

Adani Power merges Rs 19,700 cr loans from 6 arms into long-term debt

Adani Power on Thursday said it consolidated different short-term loan facilities worth Rs 19,700 crore availed by the company's six special purpose vehicles into a single long-term debt. The revised arrangement will help the company benefit from a uniform tenure and reduce effective interest rate, Adani Power said in a regulatory filing. The company said the loan consolidation under a consortium financing arrangement comprising eight lenders became possible with the amalgamation of its six special purpose vehicles (SPVs) after the credit rating of Adani Power Limited (APL) was enhanced to AA-. In a separate filing, Adani Power informed that its wholly-owned subsidiary Mahan Energen Limited (MEL) has entered into a 20-year long-term power purchase agreement with Reliance Industries Limited (RIL). The agreement is for the supply of 500 MW of electricity under the captive user policy as defined in the Electricity Rules, 2005, the filing said. One unit of 600 MW capacity of MEL's the

Robeco, Lombard Odier among buyers of new Adani Green Energy bonds

Adani Green and associated firms raised $409 million this month in the conglomerate's first debt sale since a damaging short-seller report last year

Adani's stake purchase in Gopalpur Port to provide debt relief to SP Group

Adani Ports agreed to purchase a 95% stake in the port for 13.5 billion rupees ($162 million) from Shapoorji and Orissa Stevedores Ltd

Adani group eyes 45 GW renewable energy capacity by 2030 via solar power

Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. "In Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 20

Adani Group may shift grounded planes to smaller airports for parking space

MoCA informed Lok Sabha last year that 164 aircraft were grounded across 15 airports

US graft probe into unrelated third party, says Adani Green Energy

Company added it has no relationship with the third-party and has not received any notice itself

Adani Green denies connection to US investigation involving 'third party'

In a statement filed with exchanges, Adani Green said it has no relationship with the third party and is "thus unable to comment" on the scope of the U.S investigation into the alleged dealings

Stocks of Adani group companies tank on report of US investigation

Analysts termed Monday's fall as a knee jerk reaction and said the group stocks could gain as the conglomerate has got a clean chit vis-a-vis the allegations by Hindenburg Research

Didn't get notice from US officials regarding bribery probe: Adani Group

The company "states that it has not received any notice from the Department of Justice of US in respect of the allegation referred to in the said article

Adani Group shares trade weak; Total Gas, Ports, Energy slip up to 8%

According to a Bloomberg report, US prosecutors have widened their probe against India's Adani Group to focus on whether the company engaged in bribery

Several of Adani's dollar bonds fell most in over six months on US probe

US investigators are digging into whether an Adani entity, or people linked to company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project