Page 65 - Adani Group

Adani eyes Rs 90,000 cr EBITDA in 2-3 yrs on the back of robust biz growth

Embattled Adani group is eyeing a 20 per cent year-on-year growth in pre-tax profits to reach Rs 90,000 crore EBITDA in 2-3 years on the back of robust growth in businesses ranging from airports to energy, according to a company note. Earlier this month, the group repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. The ports-to-energy conglomerate is now looking at robust growth in sectors such as airports, cement, renewables, solar panels, transportation and logistics, and power and transmission, it said adding several of Adani's new infrastructure investments will also begin to fructify and generate cash in the coming years. Adani is expected to see an increase of more than 20 per cent in EBITDA on a consolidated basis in the coming years as it drives robust and sustainable growth across its business portfolio. Its target EBITDA of over Rs 90,000 ..

Set to launch state-of-the-art healthcare ecosystem, says Gautam Adani

First project under Rs 60,000 cr CSR corpus

Adani stocks tumble on US inquiry concerns; group losses Rs 48k cr in m-cap

During the week, the Adani group lost $9 billion in market cap - most in nearly four months

Not aware of any subpoena from US regulators to investors: Adani Group

This comes after Bloomberg reported that US regulators are probing the representations made by Adani Group to American investors after Hindenburg report accused it of manipulating stock prices

Adani Group shares tumble up to 6% amid reports of US regulatory scrutiny

The US Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to institutional investors with large holdings in the India conglomerate, report.

Top headlines: Adani draws scrutiny in US, 1.3 bn to have diabetes globally

Business Standard brings you the top headlines at this hour

Adani Group draws regulatory scrutiny in the US after short seller's report

The US Attorney's Office in Brooklyn, has sent inquiries in recent months to institutional investors with large holdings in the India conglomerate, one person familiar with the inquiries said

Adani Gas down 74% in 6 months, Serum Institute most valued unlisted firm

The total value of the top 500 companies in India declined marginally by 6.4% to Rs 212 trillion from Rs 227 trillion as of October 30,2022.

Mission 2025: Adani group eyes 90% Ebitda via infrastructure business

Of the infrastructure business, 49 per cent of the profits are currently contributed by energy and utility, another 25 per cent by transport and rest by cement and logistics businesses

Adani Group cos valuation halves against 6% decline for top 500 cos: Report

Adani Total Gas lost 73.8 per cent of its value, Adani Transmission saw a decline of 69.2 per cent, while Adani Green Energy was down by 54.7 per cent

Not so forthcoming: Why doesn't Adani disclose potential conflicts?

A short-seller attack earlier this year on the Adani Group had focused on a different family member. New York-based Hindenburg Research had gone after tycoon Gautam Adani's older brother, Vinod

Fitch affirms stable outlook to $362.5 mn debt of Adani Green Energy RG2

Fitch Ratings has affirmed 'BBB-' rating on Adani Green Energy Ltd Restricted Group 2's USD 362.5 million senior secured notes (bonds), implying a low risk of default. Assigning a stable outlook, the rating agency said that credit assessment is supported by the company's 570MW solar portfolio across two Indian states and long-term fixed-price power purchase agreements (PPAs). The Adani Green Energy Limited Restricted Group 2's (AGEL RG2) consists of 570MW of polycrystalline solar projects, a proven technology with a long operating history, a Fitch rating issued on Friday said. "We regard the operation of these types of solar projects as straightforward and the solar modules are provided by internationally known suppliers" it said. It stated that Fitch Ratings has affirmed the AGEL RG2's USD 362.5 million senior secured, largely amortising notes due 2039 at 'BBB-'. The Outlook is Stable, it held. Explaining about rating rationale, it explained that the AGEL RG2's credit assessment

Sensex rises for 3rd straight day, up 85pts ahead of Fed outcome; RIL leads

CLOSING BELL ON JUNE 14, 2023: Sectorally, the BSE Metal index surged 1.6 per cent. The Energy and Oil & Gas indices were also up nearly a per cent each.

Stocks to Watch today, June 14: Adani Group, Zee, RIL, Maruti, SBI Life

Stocks to watch on June 14, 2023: BHEL, Delta Corp, Indiabulls Housing Finance, IEX, India Cements and Manappuram Finance are the six stocks in F&O ban period today.

Adani Group in talks for first major debt refinancing after Hindenburg

Adani is expecting to conclude the process within three to four months and most of the existing lenders are expected to participate, said sources

Adani Group's wind project in Lanka to be ready by 2024: Energy minister

The renewable energy project to generate 500 MW in Sri Lanka's north and eastern regions undertaken by India's Adani Group will be completed by December next year, Energy Minister Kanchana Wijesekara has said. Sharing the progress of the project, Wijesekara on Monday wrote on Twitter, "Progress of the 500 MW Renewable Energy Project in Mannar & Pooneryn was discussed with Anil Sardana, MD & CEO of Adani Transmission Ltd & project management team". We discussed the challenges, road map and timeline for the project completion and the commitment by Adani Green Energy to complete the project by December 2024, Wijesekara said after his meeting with the Adani Group officials here. This was the first review since the one carried out in February, officials said. In August last year, the Adani Group was issued approval to start wind power projects in Pooneryn, in the country's northeast. Adani Green Energy was issued provisional approval for two wind projects of 286 MW in Mannar ...

Operations at several ports, oil rigs halted as India prepares for Biparjoy

As India prepares for a powerful cyclone that is likely to hit its west coast this week, the govt has directed all offshore oil installations to ensure the immediate return of all staff

Dalmia Bharat lines up Rs 19K cr to battle Adani, UltraTech Cement

Housing, infra push to raise demand for cement, according to MD and CEO Puneet Dalmia

Sri Lanka takes action to accelerate investor laws as Adani Group waits

The Adani Group expanded its business activities in Sri Lanka in 2021, venturing into the port and renewable energy sectors.

NDTV announces salary hikes across verticals "higher than industry average"

Adani group-owned media firm NDTV Ltd on Saturday announced a salary hike across all network verticals after going through a rigorous and transparent appraisal process. The "overall salary increase is 11.50 per cent, which is significantly higher than the industry average", said a statement from NDTV. The hike has been done just six months after New Delhi Television Ltd (NDTV) became part of the Adani group, it added. "The attention was on performance-linked merit appraisals, consistent with industry-best practices designed to ensure that our employees are recognised and compensated based on their performance, promoting an organisation-wide culture of fairness," said NDTV. A special focus in the process was on younger employees, their compensation growth and charting a career path, it added. "As the media industry undergoes a significant transformation with technological advancements, changing consumer preferences and viewership diversification, NDTV reiterates its commitment to .