Page 50 - Adani Group

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.

Adani Green completes funding of reserves for $750 million Holdco Bond

Adani Green had announced the redemption plan for the $750 million bonds earlier this month

Louis Vuitton's Bernard Arnault overtakes Elon Musk as world's richest man

At 11th rank globally, Mukesh Ambani, chairman and managing director, Reliance Industries, continued to be the richest Indian on the list

Adani to start data collection for Mumbai slum redevelopment in February

The survey will be done in two parts with a pilot phase first executed within three to four weeks with a few hundred residents. The full exercise will take nine months

Adani Group to buy 6 Pilatus PC-24 business jets for top executives: Report

The deal would cost Adani Group over Rs 300 crore for all six aircraft since the purchase is from the resale market

Adani Power Q3 results: Net profit surges to Rs 2,738 cr as volumes swell

In Q3FY24, Adani Power reported a consolidated net profit of Rs 2,738 crore, up from a profit of Rs 9 crore reported in the same period a year ago

SC junks review plea on overvaluation in capital goods' import by Adani cos

According to a lawyer associated with the case, the court had found that the project cost of APML and APRL was either similar or lower than the price of their competitors

Hindenburg report anniversary: We have emerged stronger, says Gautam Adani

A year after a damning report by a US short seller ripped through his apples-to-airport conglomerate, billionaire Gautam Adani on Thursday said the "trials and tribulations" of the past year have made the Adani group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment. In a column in a leading newspaper, he said the Adani group raised Rs 40,000 crore of equity -- equal to debt repayment for the next two years -- through stake sales in some firms, repaid Rs 17,500 crore of margin-linked financing, and trimmed debt. Sustained focus on operations yielded the highest-ever quarterly profit in the second quarter of current fiscal, he said. Most of the listed group companies have recouped losses induced by the Hindenburg report. "We remained committed to maintaining our growth momentum. The Group continued its investments, evidenced by our asset base growth to Rs 4.5 lakh crore," he said. "This period (of last one

One year of Hindenburg: Adani group up, recouping market cap losses

The Securities and Exchange Board of India (Sebi) continues to investigate allegations made by Hindenburg against the group. It has concluded 22 of the 24 investigations