Page 15 - Adani Power

Powermen oppose Adani Power's bid for licence in Noida, Greater Noida

All power engineers federation (AIPEF) on Wednesday said it will oppose any government's move in Uttar Pradesh to issue electricity distribution license to private companies in Noida and Greater Noida. In a statement, AIPEF Chairman Shailendra Dubey said, "Adani Power's company Adani Jewar Electrical Company Limited has recently applied to the Electricity Regulatory Commission of Uttar Pradesh for obtaining a parallel license for the distribution of electricity in Noida and Greater Noida". AIPEF members will strongly oppose if an attempt is made to give an electricity distribution license to any private company in Noida and Greater Noida or any other place under the jurisdiction of Uttar Pradesh Power Corporation Limited (UPPCL), he added. Recently, unions of three state-owned power companies in Maharashtra went on a 72-hour strike in protest against a similar move of the government there, Dubey said, adding Maharashtra Deputy Chief Minister Devendra Fadnavis, who also holds the ...

Adani Power, Varun Beverages, ABB ripe for Nifty Next50 inclusion

Biocon, Gland Pharma, Mphasis and Bandhan Bank may move out, says note by Nuvama Alternative & Quantitative Research

Adani Power extends timeline to Dec 31 for complete acquisition of DB Power

Adani Power on Monday said that the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till December 31, 2022. Earlier, the company had extended the timeline for completion by a month till November 30, 2022. "Parties to the proposed transaction have mutually agreed to further extend the long stop date as December 31, 2022, for achieving the closing/completion," a BSE filing said. Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably. The initial term of the MOU (memorandum of understanding) shall be till October 31, 2022, which may be exte

Adani Power Q2 results: Revenue rises 36%, net profit at Rs 696 crore

Consolidated revenue in Q2 rose 36 per cent year-on-year (YoY) to Rs 7,044 crore due to improved tariff realisation and higher one-time income of Rs 771 crore

Adani Power records Q2 net profit of Rs 696 cr on higher one-time income

Adani Power on Friday posted a consolidated net profit of Rs 696 crore for September quarter 2022-23, mainly due to higher one-time income. In the year-ago period, it incurred a net loss of Rs 231 crore, a company statement said. Total income was 52 per cent higher at Rs 8,446 crore as against Rs 5,572 crore in September quarter 2021-22. The increase in revenue was aided by improved tariffs under long-term power purchase agreements (PPAs) on account of higher prices of imported coal as well as improved merchant/short-term tariffs due to more demand. Revenue in the quarter includes one-time income of Rs 912 crore, primarily in the form of higher other income on account of late payment surcharge, it said. In comparison, income in the second quarter of 2021-22 included one-time revenue recognition of Rs 141 crore, it stated. "Conventional power continues to act as the bedrock of India's stable grids, thereby enabling investments in renewable energy for achieving the nation's ambitio

Adani Power inks pact to sell 100% stake in SPPL to ACX for Rs 1,556 cr

The expected timeline for completion of sale/disposal is end of January, 2023

Timeline for Adani's DB Power acquisition extended till November 30

Adani Power on Monday said that the timeline for completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till November 30, 2022. "The parties (Adani Power and DB Power) to the proposed transaction have mutually agreed to extend the long stop date as 30th November 2022, or achieving the closing/completion," a BSE filing stated. Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. The DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably. The initial term of the MOU (memorandum of understanding) shall be till October 31, 2022, which may be extended by mutual agreement, it had stated. The enterprise value of the DB

Adani Wilmar, Adani Power freeze at 5% upper circuit; Ambuja Cements up 4%

Adani Green Energy, Adani Total Gas, Adani Enterprises and Adani Transmission were trading higher in the range of 2 per cent to 4 per cent

Adani Group stocks crack; Adani Enterprises, ATGL hit 10% lower limit

Adani Enterprises and Adani Total Gas were the major losers among the group stocks, as they hit the 10 per cent lower circuit in intraday deals.

Stocks to Watch: Hero Moto, Adani Enterprises, Zydus Life, Vodafone Idea

Stocks to Watch today: Hero MotoCorp said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles

CCI approves acquisitions of Diliigent Power and DB Power by Adani Power

Fair trade regulator Competition Commission of India (CCI) on Thursday approved the acquisition of 100 per cent equity of Diliigent Power and DB Power by Adani Power Ltd. The proposed combination relates to the acquisition of the 100 per cent of the share capital and economic rights of Diliigent Power and DB Power by Adani Power Ltd, according to an official release. In August, Adani Power said it will acquire DB Power Ltd, which owns and operates a 2x600 MW thermal power plant at Janjgir-Champa district in Chhattisgarh, at an enterprise value of Rs 7,017 crore for cash consideration. Diliigent Power is primarily engaged in the activities of a holding company. DB Power operates a coal-based thermal power plant with an installed capacity of 1,200 MW per hour in Chhattisgarh. Adani Power is a publicly listed company with eight operational power plants in India. Deals beyond certain thresholds require approval from CCI which keeps a tab on anti-competitive practices.

Adani Group to invest $100 bn in a decade, focus on energy transition

Company in sight to become one of the least expensive producers of green electron and green hydrogen, says Gautam Adani

Gautam Adani and his fortune drivers deserve keener spotlight, scrutiny

The silent soldiers behind the world's second-biggest personal fortune are overdue their recognition. They also deserve some scrutiny

Stocks to Watch: ACC, Ambuja, Adani Power, ONGC, Zomato, Hero MotoCorp

Stocks to Watch Today: In the F&O space, Indiabulls Housing Finance, India Cements, PVR and RBL Bank are in the ban period on Monday

Reliance Infra had filed arbitration claim of Rs 500 crore: Adani

Reacts to RInfra statement of last week, which said it has filed a claim of Rs 13,400 crore; Adani says it has filed counterclaims

Reliance Infrastructure files Rs 13K-crore claim in Adani power deal

Reliance cited a breach of a December 2017 share purchase agreement relating to the transfer of its Mumbai power distribution business to Adani Transmission

Amid rising power demand; Adani Power, NTPC, Coal India look firm on charts

Among individual stocks, Coal India can surge up to 17%; Adani Power, Adani Transmission, NTPC and Tata Power are likely to gain in the range of 10-14 per cent.

Adani Green could replace Dr Reddy's in Sensex during December review

If added, Adani Green will be the first stock from the group in Sensex. After the inclusion of Adani Enterprises by September-end, Nifty will have two Adani group constituents

Adani Power, Adani Enterprises: Bulls tighten grip over Adani Group stocks

On the bourses, shares of the listed Adani group companies have done exceptionally well, outperforming the benchmark indices in the current calendar year

Green hydrogen: India Inc's next big thing even as policies take shape

Undeterred by the absence of policy or supply chain, conglomerates, and RE companies are investing heavily in this new fuel.