Page 73 - Adani Group

May create perception issue: Cong on more time to Sebi for Adani probe

The Congress on Monday said granting a six-month extension to the Securities and Exchange Board of India (SEBI) to complete its probe into the alleged stock price manipulation by the Adani group may create the perception the investigation is not being seriously pursued but being "buried". Market Regulator SEBI has moved the Supreme Court seeking the extension to complete its investigation. Congress General Secretary (in-charge, communications) Jairam Ramesh said a Joint Parliamentary Committee (JPC) probe is needed to fully investigate the Adani issue, but a speedy SEBI investigation is also required to get to the bottom of the "very serious allegations". The top court had on March 2 asked the SEBI to probe the matter within two months and also set up a panel to look into the protection of Indian investors after a damning report by a US short-seller wiped out more than USD 140 billion of the conglomerate's market value. Tagging a media report on the SEBI's plea, Ramesh said, "SEBI

Sebi's Adani Group investigation hits a wall with offshore regulators

Sources said Sebi has been writing to various regulators in several jurisdictions over the past few weeks regarding the Adani issue

Top Headlines: Adani on Sebi probe, 100th Mann Ki Baat episode and more

Business Standard brings you top news at this hour

Sebi seeks 6-month extension to complete Hindenburg's Adani probe: Report

New York-based Hindenburg in January accused Adani Group of using a web of companies in tax havens to inflate revenue and stock prices, even as debt piled up

Top Headlines: Sebi on Adani row probe, H-1B lottery system fraud & more

Business Standard brings you top news at this hour

Sebi likely to seek more time from Supreme Court in Adani Group case

Deadline to submit status report is May 2

Adani Cement pre-pays $200 million Holcim debt, seeks loan extension

Global banks had lent Adani $4.5 billion to finance the purchase of Holcim Ltd

ACC on Hindenburg: Independent review found it in compliance with all laws

Says since matter is sub-judice, financial statements do not carry any adjustments

ACC Q4 results: Profit falls 40% due to high energy costs, revenue up 8.1%

The revenue was up 8.1 per cent to Rs 4,790 crore year-on year basis. Total costs was Rs 4,510 crore , up 13.9 per cent due to high energy costs

Adani Group aims to raise about $800 mn for financing green energy projects

Any project financing could show banks' increasing comfort in extending money, after Adani's ports-to-power conglomerate was roiled by accusations of corporate fraud by Hindenburg Research

3 Adani Group stocks hit 5% upper circuit; Adani Enterprises jumps 4%

Adani Ports said the purpose of the $130 million tender offer purchase is to partly prepay the company's near-term debt maturities and to convey the comfortable liquidity position of the company.

Low exposure to Adani Group stocks tilts active vs passive debate

More actively managed schemes manage to beat benchmarks in Q4, thanks to low holding in Adani Group stocks

GST not applicable on transfer of Jaipur Int'l airport biz to Adani group

The transfer of Jaipur international airport operations by Airports Authority of India (AAI) to the Adani group is exempt from Goods and Services Tax (GST), the Authority for Advance Ruling has said. The AAI had approached the Rajasthan-bench of the Authority for Advance Ruling (AAR) seeking ruling on whether transfer of business to M/s Adani Jaipur International Airport Ltd is treated as supply as 'going concern' and whether GST is leviable on transfer of assets. Transfer of business as a going concern, as a whole, or independent part thereof, is considered as service under GST law and such supplies are exempt from goods and services tax. In its ruling dated March 20, 2023, the AAR said the business arrangement entered vide concession agreement dated January 16, 2021, between the applicant (AAI) and M/s Adani Jaipur International Airport is a transfer of going concern. The Adani Group had in October, 2021, taken over the operations, management and development of the Jaipur ...

Dollar bonds of Adani Group firms inch higher post buyback announcement

The US dollar-denominated bonds issued by entities of India's Adani Group were trading marginally higher on Thursday, after a group company said it will consider a buyback of securities

Indian money managers continue to trim holdings of Adani Group's stocks

Investments by local equity mutual funds in the group accounted for only 0.9% of the industry's $182 billion in assets at the end of March

Adani Green Energy gets certification from DNV for water conservation

Adani Green Energy Ltd (AGEL) on Wednesday said it has received a recognition for conserving water against consumption. "AGEL has been certified Water Positive by DNV, an independent global assurance agency. The verification statement signifies that AGEL's water conservation is greater than consumption," a company statement said. DNV conducted qualitative and quantitative assessment of water balance index for AGEL's operational sites having greater than 200 MW capacity in Tamil Nadu, Rajasthan, Karnataka, Gujarat and Andhra Pradesh. As per the assessment, the water balance index is 1.12 (positive), surpassing its target to become net water neutral by FY25, way ahead of time. The verification process entailed sample-based checks and the methodology, measurement techniques, estimation methods, assumptions and uncertainties involved in the process of water accounting as adopted by AGEL. AGEL has recorded a 99.5 per cent lower freshwater consumption per unit of generation as against 3

Adani Group's debt pile up almost 21%, relies on global banks for funding

The ratio of net debt to run-rate earnings before interest, tax, depreciation and amortization was about 3.2 in the 2023 fiscal year, which ended in March

Adani-Total's Dhamra LNG terminal to start commercial operations at May-end

Adani Group and French company TotalEnergies' newly built Rs 6,000 crore facility to import LNG at Dhamra on the Odisha coast will start commercial operations at the end of May, the French firm said on Monday. The 5 million tonne a year capacity terminal received its first ever shipment of liquefied natural gas - a fuel that will be used to make steel, produce fertilizers and turned into CNG and cooking gas - on April 1. Qatari ship 'Milaha Ras Laffan' docked at Dhamra port on April 1 morning, bringing in 2.6 trillion British thermal units of natural gas in its frozen form (LNG) which will be used to commission the facility. "This delivery enables the gradual commissioning of the terminal, which is expected to start commercial operations at the end of May 2023," TotalEnergies said in a press statement. Karan Adani, CEO of Adani Ports and Special Economic Zone (APSEZ) - the firm that operates the Dhamra port and has leased the LNG jetty to Adani Total Private Ltd - had previously ..

Jefferies' secret sauce: Savours No. 1 in the ECM league table

Gets success recipe right by brokering $1.9-bn Adani-GQG deal

Adani is a symbol of corruption, says Rahul Gandhi targeting PM Modi

Congress leader Rahul Gandhi on Sunday launched a sharp attack on Prime Minister Narendra Modi by bringing up the Adani "corruption" issue in this Karnataka district headquarters town. It was in Kolar in 2019 that he made a remark on the Modi surname for which he was convicted of criminal defamation and stripped of his Parliament membership. In his first visit to Karnataka after the Assembly polls were announced on March 29, Gandhi emphasised on the Adani issue to target the Prime Minister. "Adani is a symbol of corruption," he said addressing the 'Jai Bharat' rally here. Expressing confidence that the Congress would come to power in Karnataka, where Assembly elections are set to take place on May 10, Gandhi said the first Cabinet meeting after the party formed the government would approve its key poll promises, paving the way for their implementation. "I am very glad the Congress party is fighting Karnataka Assembly elections unitedly," he said. Senior Congress leaders including