Page 54 - Adani Group

Dovish Fed unleashes market bulls; Sensex zooms 490 pts, Nifty tops 19,100

Closing Bell on Thursday, November 02: Jerome Powell's comment that "despite elevated inflation, the longer term inflation expectations remain well anchored" was taken by the markets as dovish

Adani Power Q2FY24 result: Net profit jumps 848% YoY to Rs 6,594 crore

The revenue from operations for Q2FY24 came in at Rs 12,990.58 crore, compared to Rs 7,043.7 crore year-on-year, registering a jump of 84.42%

Ambuja Cements Q2 results: Net profit rises seven-fold to Rs 793 crore

In Q2FY24, Ambuja Cement's net profit (attributable to the owners of the company) was at Rs 793 crore, seven times higher than Rs 93 crore reported a year ago

Adani Wilmar Q2FY24 result: FMCG major reports net loss of Rs 130 crore

Adani Wilmar last month said its profitability in the September quarter remained under stress due to lower edible oil prices

Adani has been given Indian ports, airports by PM Modi, says Rahul Gandhi

Congress leader Rahul Gandhi on Tuesday said that the moment we talk about Adani, intelligence agencies such as the ED and the CBI start approaching us

No evidence to back cash-for-question charge: Moitra hits out at Adani FPIs

Trinamool Congress (TMC) MP Mahua Moitra on Saturday said the BJP's "cash-for-questions" allegation against her has "failed" as there is no evidence to back it and questioned how "dodgy FPI owned Adani" got the clearance to buy ports and airports. In a post on X, Moitra said: "First BJP said 'Cash for Questions'. That failed since NO evidence to back fake allegation. Now it is 'National Security'." "Real? Not of Q&A portal that 10 people in each MP team access daily -- it is how dodgy FPI owned Adani gets MHA clearance to buy our ports and airports!" she said, without elaborating any further. Moitra's post came a day after Bharatiya Janata Party (BJP) MP Nishikant Dubey, who levelled the "cash-for-questions" allegation against her, said in a post on X that sharing the parliamentary portal login details with anyone is a violation of the agreement with the government body (NIC) managing the portal and is a security risk. The TMC MP continued her attack on the business group led by ..

Adani Group seeking to raise $4 bn to fund green hydrogen plans

Tycoons like Adani and his rival Mukesh Ambani are betting on green hydrogen as Prime Minister Narendra Modi seeks to establish India's leadership in the transition toward cleaner technology

Cong cites news on Adani's auditor, says something truly rotten in group

The Congress on Thursday cited a media report that one of the Adani Group's longtime auditors is being scrutinised by India's accounting regulator to allege that "something is truly rotten" in the conglomerate. Congress general secretary Jairam Ramesh's attack on the Adani Group came after a media report claimed that the National Financial Reporting Authority (NFRA) has in recent weeks started an inquiry into one of the member firms of EY in India, S R Batliboi. In his post on X, Ramesh said, "In May 2023, a little-known statutory auditor of Adani Total Gas Ltd resigned. In August 2023, another statutory auditor this time an internationally known firm resigned after flagging concerns on financial transactions of Adani Ports." In October 2023, comes news of a third statutory auditor also a big name in the profession of five listed Adani Group companies being itself investigated by the National Financial Reporting Authority, Ramesh said. "Something is truly rotten in Modi's ...

Stocks to Watch today: Tech M, IRM Energy, RIL, Sonata Software, ACC, PNB

Stocks to watch on Thursday, October 26: The consolidated net profit of Tech Mahindra for Q2FY24 fell 61.10 per cent YoY to Rs 505.30 crore -- the biggest drop in 16 years

India's copper industry has a new entrant, incumbents not worried

For 2022-23 (FY23), India's domestic copper production was estimated at half a million tonnes

NFRA probing Adani Group's auditor SR Batliboi, an EY member firm

In a statement on Wednesday, Adani Group rejected any suggestions that the company and its business have not acted as per the regulations and accounting standards of the jurisdictions they operated in

SR Batliboi, an Adani Group auditor and EY member firm, faces NFRA inquiry

The National Financial Reporting Authority, or NFRA, has in recent weeks started an inquiry into one of the member firms of EY in India

From Adani to Torrent, India Inc taps overseas funds for local M&As

Adani, Hinduja, Torrent raise funds for acquisitions

Chhattisgarh polls: Farmers' support will help win 75 seats, says CM Baghel

Chhattisgarh chief minister Bhupesh Baghel said that his government implemented several schemes for the welfare and support of farmers, and this will help the Congress win 75-plus seats

Adani Total meets Hindenburg's predicted valuation with 85% plunge in stock

The shares of the conglomerate's city-gas distributor slid as much as 2.6 per cent to 575.7 rupees on Monday, taking losses from their January 24 closing of 3,891.75 rupees to 85 per cent

NDTV Q2FY24 results: Net profit falls nearly 51%, revenue down 10%

Consolidated net profit was Rs 5.91 crore in the three months to Sept. 30, compared with Rs 12.01 crore a year earlier, it said in an exchange filing

Adani Group refinances $3.5 bn debt taken for ACC-Ambuja acquisition

The refinancing programme was concluded with 10 international banks with a debt maturity of up to 3 years

TotalEnergies representative Ahlem Friga-Noy on Adani Green board resigns

Adani Green Energy Ltd (AGEL) on Friday said Ahlem Friga-Noy, a nominee director representing TotalEnergies on the board of the company, has tendered her resignation. TotalEnergies has nominated a new nominee director in place of Ahlem Friga-Noy, AGEL said in a regulatory filing. "Ahlem Friga-Noy nominee Director (representing TotalEnergies) on the board of the company has submitted her resignation with effect from October 23, 2023. Total Energies has nominated a new nominee director in place of Ahlem Friga-Noy," it said. The proposal for the appointment of a new nominee director shall be placed before the nomination and remuneration committee and Board of the company, in due course, the filing said without sharing any further detail. In September, Adani Green Energy Limited (AGEL) and TotalEnergies entered into a binding agreement to create a new JV, equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio.

Adani Group closes in on $3.5 billion loan to refinance existing debt

The deal, which would be among the top 10 biggest loans in Asia this year, could be sealed this week, according to people familiar with the matter

TMC MP Mahua Moitra targeted Adani to malign Modi: Darshan Hiranandani

Darshan Hiranandani, the CEO of real estate-to-energy group Hiranandani, who allegedly paid TMC MP Mahua Moitra to raise questions in Parliament about Adani Group, on Thursday said the TMC leader targeted Gautam Adani to "malign and embrass" Prime Minister Narendra Modi whose impeccable reputation gave opposition no opportunity to attack him. In a signed affidavit, a copy of which was reviewed by PTI, Hiranandani admitted at using Moitra's Parliamentary login to ask questions targeting Adani after state-owned behemoth Indian Oil Corporation (IOC) booked capacity at the Gujarat-based conglomerate's Dhamra LNG import facility in Odisha and not at his firm's planned facility. Moitra, he claimed, "made frequent demands" including "expensive luxury items, providing support on renovation of her officially allotted bungalow in Delhi, travel expenses, holidays, etc, apart from providing secretarial and logistical help for her travels within India and to different parts of the world." Earlie