Page 62 - Adani Group

Adani Energy Solutions secures $1 bn financing for green HVDC link project

Adani Energy Solutions Limited (AESL) on Monday said it has achieved financial closure for its USD 1 billion green high voltage direct current (HVDC) link project, that will increase renewable energy supply to Mumbai. The 80-km multi-faceted project will offer a technological upgradation to the Mumbai city. The construction work for this link will begin in October 2023, AESL (erstwhile Adani Transmission Ltd) said in a statement. "AESL has announced successful financial closure for its USD 1 billion Green HVDC link project, which will enable further 'greening' of the Mumbai Grid by supplying more renewable power to the city while supporting its rising electricity demand," it said. HVDC transmission technology is superior to other conventional technologies as it stabilizes power distribution networks, where sudden new loads or blackouts in one part of the network may lead to synchronization problems and cascading failures. Besides, it is the only technology suitable for islands wher

Adani Green tanks 12% after nearly 3% equity change hands via block deal

At 09:15 AM; around 44.24 million shares representing 2.8 per cent of total equity of AGEL changed hands on the BSE, the exchange data shows.

Three seats of power looting country, alleges SP's Swami Prasad Maurya

Samajwadi Party leader Swami Prasad Maurya on Sunday said there are only three seats of power and all of them are looting the country. In a video clip in Hindi released by him on Twitter, Maurya identified the three "gaddis" (seats) as the "raj gaddi" of the prime minister and chief minister, "mutt gaddi" of the shankaracharyas and seers, and "seth gaddi" of businesses like the Adani and Ambani groups. "Today there is an alliance between these three seats of power. When there is a threat to the 'raj gaddi', the 'seth gaddi' and 'mutt gaddi' come to its rescue by opening its coffers. "When the 'mutt gaddi' is in trouble, the 'seth gaddi' and 'raj gaddi' provide financial assistance, and when the 'seth gaddi' faces any problem, it gets bailed out by the other two," Maurya said. Pointing at the crowd, he said, "But you are not there on any of the three seats." The SP leader had last week accused the BJP of inciting communal feelings on the Gyanvapi Mosque issue. A month before the 2

From ports to mines, Gautam Adani wants all his businesses to go green

Adani has put 2030 as the deadline for Adani Ports and SEZ Ltd, India's largest integrated ports and logistics company, to become net carbon-neutral

Companies competing with Adani for prized assets faced CBI, ED raids: Cong

The Congress on Saturday cited the takeover of a cement company to allege that probe agencies were being misused by the BJP government to "enrich" a select few crony capitalists. Congress general secretary Jairam Ramesh claimed that in sectors such as airports, ports and cement, companies competing with the Adani Group for prized assets have faced CBI, ED and Income Tax raids "that have dissuaded them from proceeding with their bids, and the assets have ultimately gone to Adani". "In our Hum Adani ke Hain Kaun (HAHK) series of 100 questions for Prime Minister (Narendra) Modi, the Congress party had pointed out how the Adani Group has repeatedly profited from well-timed, Modi-made raids by investigative agencies on its business competitors," he said in a statement. "The latest episode involves the takeover of Sanghi Industries by the Adani-owned Ambuja Cements," Ramesh said. "Aap chronology samjhiye: April 28, 2023: India's third-largest cement producer Shree Cement is reported to b

Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal

The acquisition, expected to close in the next three to four months, will entail purchase of 56.74 per cent shares from Sanghi Industries' promoter group

Dharavi revamp plan set for legal battle; HC to hear petition on Monday

Bombay HC to hear petition filed by Seclink on Monday

Adani Power Q1FY24 results: Net profit up 83.3% YoY, revenue rises 16%

During the quarter, Adani Power achieved an average consolidated plant load factor of 60.1 per cent and sales of 17.5 billion units on an installed capacity of 15,250 MW

Adani Group's Ambuja Cements to acquire Sanghi Industries for Rs 5,000 cr

Purchase will entail purchase of 56.74% shares from Sanghi Industries' promoter group

Adani group to expand SIL's Sanghipuram port capacity to handle large ships

The Adani group will make investments to expand the captive port capacity of Sanghipuram to handle vessel sizes of 8,000 DWT (deadweight tonnage), said Adani Ports and Special Economic Zones (APSEZ) CEO Karan Adani on Thursday. Adani Group firm Ambuja Cements on Thursday said it will acquire a majority stake in Sanghi Industries Ltd (SIL), one of the leading cement manufacturers from western India, at an enterprise value of Rs 5,000 crore. As per the deal, Ambuja Cements, a part of Adani Cement, which holds the cement business of port-to-power conglomerate Adani group, will acquire 56.74 per cent shares of SIL from its existing promoter group - Ravi Sanghi & family. Sanghi Cement has a manufacturing unit at Sanghipuram in Gujarat's Kutch district, which is also connected with a captive jetty at Sanghipuram. It has a 6.6-MTPA (Million Tonnes per annum) capacity clinker plant and a 6.1-MTPA capacity cement Plant. "We will also invest in deepening and expanding the captive port ...

Ambuja Cements gains 3% on acquisition of Sanghi Industries for Rs 5,000 cr

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family.

Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr

Ambuja Cements' acquisition of Sanghi Industries is expected to be completed in the next three to four months

Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr

The Adani group will invest Rs 4,500 cr in acquiring the promoters' stake and take over the company's debt of around 1,500 cr

Ambuja Cements consolidated Q1 PAT up 20% on better operational performance

Ambuja Cements said sustained volume growth was supported by increase in blended cement and improvement in efficiency parameters

Dharavi redevelopment: Residents welcome move, but have no clue about plan

Many are also concerned about their livelihood after relocation

Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand

Ambuja Cements Q1FY24 results: Shares of Ambuja Cement slipped 2 per cent in the intra-day trade to Rs 452 apiece

Ambuja Cements to acquire majority stake in Sanghi Industries: Reports

Adani Group is India's second largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which have a capacity to produce more than 65 million tonnes

AESL bets on energy solutions in pivot as distribution policies lag

The retail connect vertical will comprise existing distribution, smart metering, cooling systems, parallel distribution licenses, and energy solutions

Adani Green Energy Q1FY24 results: Net profit jumps 50% to Rs 322 crore

The cash profit was up 55 per cent to Rs 1,051 crore from Rs 680 crore in the June quarter last year

Adani Group in talks to raise $1.8 bn from India bond sales: Report

The plans will likely gather steam in two months and the amount eventually raised could be double the initial size, sources said