Shares of Adani Total Gas zoomed 20 per cent to Rs 1,053.80 in intraday trade today on the back of heavy volumes
In the past two months, the power index has surged 19 per cent, while in nine months, it zoomed 59 per cent.
In the past two trading days Adani Group stocks have surged close to 31 per cent in anticipation that India shall witness a stable government post the 2024 general elections.
Power-to-port conglomerate's mcap nears Rs 12 trillion
Last week, the Supreme Court reserved its judgement on the charges made by the Hindenburg report
As part of decarbonisation efforts, Adani Power Ltd (APL) on Wednesday said it will use green ammonia along with conventional fuel coal to run the boiler of 330 MW at its Mundra plant in Gujarat. The quantum of green ammonia will be up to 20 per cent of the total fuel requirement, the company said in a statement. "Adani Power has undertaken a ground-breaking green ammonia combustion pilot project at its Mundra plant as part of its multipronged decarbonization initiatives. As part of the project, the Mundra plant will co-fire up to 20 per cent green ammonia in the boiler of a conventional coal-fired 330 MW unit," the statement said. Green ammonia, produced from green hydrogen, which in turn is produced through electrolysis using renewable energy, would be a feedstock for the boilers. Ammonia does not contain carbon and there will be no CO2 emission from its combustion, making it a long-term carbon-neutral alternative to fossil fuels. Adani Power has partnered with IHI and Kowa-Japa
Shares of Adani Power hit a new high of Rs 464.30, as they surged 17 per cent on the BSE in Tuesday's intra-day trade on back of over six-fold jumped in average trading volumes.
The rise in consolidated revenue, the company said, was on account of newly commissioned transmission lines and other related commissioning
In Q2FY24, Adani Power's consolidated continuing EBITDA were higher by 202% YoY at Rs 4,336 crore; due to greater sales volumes, lower fuel cost, and higher merchant tariffs.
Sequentially, Adani Power PAT for Q2FY24 was down 24.7 per cent
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%
The company's consolidated net profit climbed to 65.94 billion rupees ($792.3 million) in the quarter, helped in part by a tax gain of 13.71 billion rupees
Less than 10 stocks stay afloat, over 40 sink by 5%
Adani Ports, NDTV, Adani Enterprises, Adani Energy Solutions, Adani Total Gas, Adani Wilmar, Ambuja Cements and ACC were up in the range of 2 per cent to 10 per cent on the BSE.
A report published by OCCRP has accused Adani Group of routing investments in its publicly traded stocks through "opaque" Mauritius funds. But what is OCCRP, and why is it accusing the Adani Group
The latest report by the Organised Crime and Corruption Reporting Project (OCCRP) against Adani Group alleges Gautam Adani's family invested millions of dollars in its own companies >
Many analysts though are bearish due to state-owned firm's muted financials and likely low valuation
Just months after the Hindenburg report led to a sharp sell-off of Adani Group shares in the Indian share market, another report has come up with similar allegations. Here is all you need to know
Adani Group today categorically rejected allegations of hidden foreign investors in a report by the George Soros-owned Organised Crime and Corruption Reporting Project.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained gun at billionaire Gautam Adani's group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures. The