Page 48 - Adani Group

Stocks to Watch: Adani Group, Torrent Power, HAL, Lupin, Railtel, KPI Green

Stocks to watch on March 18, 2024: As per PTI, the Adani group will invest more than Rs 1.2 lakh crore in FY25 across its portfolio business with a special focus on green and renewable energy

Adani group plans to invest $14 bn across its portfolio companies in FY25

Adani group plans to invest more than Rs 1.2 lakh crore (about USD 14 billion) across its portfolio companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, as it doubles down on its USD 100 billion investment guidance over the next 7-10 years to grow businesses, sources said. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 per cent higher than what the portfolio is estimated to have incurred in FY24. According to analysts, the portfolio is estimated to have incurred a capex of around USD 10 billion in FY24 that ends on March 31. Sources said these investments will set the stage for exponential profit growth. The group had previously guided a USD 100 billion capex over the next 7-10 years. Most of this investment is going to go into group fast growing businesses -- renewable, green hydrogen and airports. As much as 70 per cent of the planned capex will go into its green portfo

US prosecutors probing Gautam Adani and his group over potential bribery

The DOJ probe hasn't stopped Washington from working with Adani Group entities

Short seller attack was to defame India's governance practices: Adani

After the Hindenburg report's release, shares of the Adani group fell sharply but later recovered after the promoters sold shares and prepaid part of their debt

Adani's Dharavi project to begin survey for rehabilitation of residents

The Dharavi Redevelopment Project -- a special purpose vehicle set up through a joint venture between the Adani Group and Maharashtra government -- on Monday said it will begin a survey next week to determine eligibility of the slum residents for their rehabilitation. Starting with Kamla Raman Nagar from March 18, the survey will collect data from lakhs of informal tenement residents, according to a statement. "The data will be used by the state government to determine their rehabilitation eligibility criteria under the proposed redevelopment project," it said. A specially developed app will be used to capture the data and every informal settlement will be given a unique number, which will be followed with laser mapping of each lane. Under the redevelopment plan, each tenement holder will be provided with a home and the year of occupying a given space will determine the location where the tenement holder will be rehabilitated. A project spokesperson urged all residents to support

Gautam Adani, Qualcomm CEO discuss artificial intellgence, semiconductors

Chip giant Qualcomm chief executive Cristiano R Amon and billionaire Gautam Adani on Monday discussed role of AI, semiconductors and edge appliances across markets in the fast changing global technology space. The two leaders met in Mumbai on Monday morning to discuss India's potential around semiconductors, AI and mobility, according to a social media post by Adani. While Qualcomm is big on designing and manufacturing semiconductors and wireless telecommunications products, Adani group had in 2022 bought a small quantity of fifth generation or 5G spectrum for private captive network deployment in ports, logistics and power generation among others. Adani is also building data centres at multiple locations. "Great meeting with Qualcomm CEO @cristianoamon & his leaders! Inspiring to hear his vision for semiconductors, AI, mobility, edge appliances and much more across different markets. Exciting to hear about his plans and commitment to India's potential!," Adani said in a post on ..

Delhi airport expects 72 mn passengers, expanded T1 to be functional in May

The Delhi airport is expected to handle more than 72 million passengers in the current fiscal ending March 31, the highest-ever annual traffic, and the expanded Terminal 1 is likely to be operational in May, its CEO Videh Kumar Jaipuriar said on Sunday. The expanded T1 terminal, the capacity of which has increased to 40 million from 17 million, was inaugurated virtually by Prime Minister Narendra Modi on Sunday. Now, its total area has tripled to 2,06,950 square metres. The Indira Gandhi International Airport (IGIA) in the national capital, operated by the Delhi International Airport Ltd (DIAL), now has an annual passenger handling capacity of 100 million spread across three terminals -- T1, T2 and T3. Speaking to reporters after the inauguration at the Delhi airport, DIAL CEO Jaipuriar said the expanded T1 is expected to be operational in May before the peak summer season. Currently, the process related to ORAT (Operational Readiness and Airport Transfer) is happening. "When you

Florida-based GQG Partners ups India bet with Bharti Airtel stake buy

The fund also acquires additional stake in Macrotech Developers

Adani Group in discussions to offer $1.2 billion more bonds by June

The company is discussing the planned transaction with arrangers and bankers

Adani Green Energy's $409-million bond sale oversubscribed 7 times

This transaction represents the first bond deal for Adani Group since September 2021 and follows the successful equity raise of over $1.4 billion, which was completed in December last year

Adani's first bond issue sees massive comeback to international market

Adani Green's bonds paid a yield of 6.7%, 42.5 basis points cheaper than levels initially proposed when the deal was announced this morning, thanks to strong investor demand

Adani group offers first $409 million bond since Hindenburg crisis

Hindenburg levied accusations of fraud and stock manipulation in a report in early 2023

Electrolyser manufacturing: RIL, Adani, L&T win incentives in maiden tender

The tender was floated under Centre's Green Hydrogen Mission

Madhya Pradesh eyes over Rs 1 trillion investments via investor summit

Adani group promises investments of Rs 75K cr; will generate 15,000 jobs

Adani Energy in early talks for up to $500 million dollar bond issue

"The deal will materialise in the next three months and we are seeing strong interest from US insurance companies and pension funds," the company source said

Adani group to source copper concentrates from Peru, Chile, Australia

Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd, expects to start its operations in the next few weeks

Adani Group's Ebitda sees increase of 34% at Rs 79,000 crore in 2023

Adani Group on Thursday said pre-tax profit or EBITDA of its portfolio companies that span from apples to airports soared 34 per cent to Rs 79,000 crore in the 12-month period ended December 2023 - 2.5x of EBITDA in financial year 2021. EBITDA of Rs 78,823 crore in 2023 is compared with Rs 58,653 crore pre-tax profit in the previous year, it said in a statement. "The growth was powered by the highly stable core infrastructure platform. Growing at 35.5 per cent, it generated Rs 66,208 crore (USD 8 billion) - 84 per cent of portfolio EBITDA," it said. Domestic and international rating agencies, including S&P Global and Moody's have upgraded or positively revised the outlook for all key portfolio companies. "The portfolio continues to remain conservatively leveraged with net debt to EBITDA as low as 2.5x," the statement said adding debt coverage stood at 2.1x and gross assets to net debt at 2.5x. The group maintained high liquidity with a healthy cash balance of Rs 44,572 crore at ..

Adani Energy Solutions aims to raise about $400 mn via oversees bonds

The group's ability to raise funds offshore has been under close scrutiny since the 2023 crisis triggered by shortseller Hindenburg Research's allegations of malfeasance

Flight delays reduce at Mumbai airport post congestion driven cancellations

The airlines have cancelled about 200 flights per week to and from the Mumbai airport from February 15 onwards

Adani holds Singapore meeting for first dollar bond since Hindenburg crisis

An executive arrived at an office tower overlooking the city state's Marina Bay in a black van on Wednesday, the first stop on a tour of international financial hubs to win over buyers