Page 63 - Adani Group

Adani Energy Solutions Q1 results: Net profit dips 5.9% to Rs 175.1 crore

The company reported double-digit growth in revenue, while other income slipped significantly

Adani Energy Solutions Q1FY24 results: Net profit dips 5.9% to Rs 175 crore

As compared to Rs 389.45 crore in the quarter that ended on March 31, the net profit was down 55 per cent

Increase in public float to stoke a $685 million fire in passive buying

Three Adani Group firms, Coal India among beneficiaries

ACC not to carry out any investigation into Hindenburg's allegations

Leading cement maker ACC Ltd, now a part of Adani Group, said it will not conduct any independent investigations against the allegations of financial misconduct made by the short-selling firm Hindenburg Research. Adani Group had already undertaken a review by independent law firms, whose opinions confirmed that the company is in compliance with the requirements of applicable laws and regulations, said ACC Cement while declaring its quarter results on Thursday. "Based on the foregoing and pending final outcome of the regulatory investigations and related proceedings as mentioned above, the Company has decided to not carry out any separate independent Investigation in the matter, and the financial results do not carry any adjustments in this regard," it said. Hindenburg on January 24 accused Adani of "brazen stock manipulation and accounting fraud" as well as using a "labyrinthian network" of shell companies for surreptitious money movements, allegations that the conglomerate has ...

Adani raises $1.4 bn from stake sale in 3 firms; $9 bn raised in 4 years

Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio companies have also received board approval

Adani Group planning world's largest, 20 GW hybrid energy plant in Gujarat

The company intends to build the facility faster than any project in its execution history, Gautam Adani said

Adani Group returns to loan market as investor confidence improves

The Indian group is in talks with Barclays Plc, Deutsche Bank AG and Standard Chartered Plc to borrow between $600 million and $750 million to refinance the debt taken on to finance its purchase

Stocks to Watch: Bharti Airtel, Adani Ent, Cipla, RailTel, Indian Hotels

Stocks to Watch on July 28, 2023: Despite a 10 per cent increase in revenue, telecom provider Airtel Africa announced a net loss of $151 million in the first quarter (April-June) of FY24 on Thursday

Adani group lenders may offer $750 million loan for Ambuja debt

Gautam Adani's conglomerate is also in discussions with other lenders, as it seeks to refinance as much as $3.8 billion of a loan facility taken for its Ambuja acquisition

Adani Transmission renames as Adani Energy Solutions with immediate effect

Adani Transmission Ltd on Thursday said it has renamed itself to Adani Energy Solutions Limited with immediate effect. "The company's name has been changed from Adani Transmission Limited to Adani Energy Solutions Limited w.e.f. 27th July, 2023 pursuant to the even dated 'Certificate of Incorporation pursuant to change of name' received from the Registrar of Companies, Ahmedabad," a BSE filing said. Adani Energy Solutions, erstwhile Adani Transmission, is the country's largest private transmission company, with a presence across 14 states.

ACC Q1FY24 results: Net profit jumps 105% YoY to Rs 466 cr, revenue up 16%

ACC Ltd said that it expects the positive trend of the industry to continue in the coming quarter

Adani grp shares in focus; Adani Green, Transmission, Power rally up to 10%

Adani Green Energy (up 10% at Rs 1,089.15), Adani Total Gas (up 5% at Rs 662.45), and NDTV (up 5% at Rs 238.75) were locked in their respective upper circuit limits

Adani's Mundra port handled 5,300 TEUs in July, crosses pre-Biparjoy levels

Adani Group-owned Mundra port in Gujarat handled over 5,300 twenty-foot equivalent units (TEUs) in July 2023. With this the handling has crossed the pre-Cyclone Biparjoy levels of around 4,900 TEUs, Adani Group said in a statement on Thursday. Group company Adani Ports and Special Economic Zone Ltd (APSEZ) operates the Mundra Port which is the largest integrated transport utility in India. "The average number of TEUs handled by rail at the Mundra port has crossed 5,300 in July, surpassing the pre-Cyclone Biparjoy levels of around 4,900," it said. The cyclone disrupted operations and caused unavoidable operational downtime for around six days. Mundra is the largest container handling port in India, having handled more than 6.6 million TEUs in FY23, making it an integral gateway to the north and central parts of the country. Despite the disruption due to the cyclone, the port posted a commendable growth of 4.4 per cent year-on-year in Q1 FY24 in container handling. A new berth, "T

Adani shares jump, adds Rs 50,501 cr in market capitalisation in 1 day

Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors. "Definitely, there is significant interest from investors like retail, HNIs and family offices. Also, the market is catching up with the fundamentals of the Adani Group companies. The Hindenburg issue has taken a backseat and the market is judging the group by its financial performance," said a head of research of a domestic brokerage house. Notable performers were renewable energy a

Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition

Ambuja-ACC, JK Lakshmi Cement, and UltraTech are the top three cement players in Gujarat, the region from where Sanghi Cement generates a significant portion of its revenues

7 Adani-run airports in India handled 103% more passengers in FY23

The group runs airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram

Stocks to Watch: RIL, ICICI Bank, Paytm, IGL, Biocon, YES Bank, Cyient DLM

Stocks to Watch on July 24, 2023: Tata Steel, HDFC AMC, Canara Bank, IDBI Bank, TVS Motor will announce their Q1 results today

Bain to buy 90% stake in Adani Capital and Adani Housing for Rs 1,440 cr

The total valuation of the Adani financial services business stands at Rs. 1,600 crore

Adani's $1.1 bn copper project in Gujarat to start operations from Mar 2024

Billionaire Gautam Adani-led group's copper-producing factory at Mundra in Gujarat will start operations from March next year, helping cut India's dependence on imports and aiding energy transition, sources said. Copper is known as the "metal of electrification" as deeper electrification requires wires, which are primarily made from copper. Technologies critical to the energy transition like electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind and batteries, all require copper. Kutch Copper Ltd (KCL), a subsidiary of the group's flagship Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum in two phases. For Phase-1, capacity of 0.5 million tonnes per annum, KCL has achieved financial closure through a syndicated club loan, sources with direct knowledge of the matter said. The first phase is expected to become operational by the end of the current fiscal, they

Adani to sell 90% stake in fin services to Bain Capital for Rs 1,440 cr

Bain to invest Rs 1,000 cr more in company