Page 10 - Adani

Adani Energy up 14% on posting Q3 biz update; here's what company revealed

In Q3, the company's transmission network expanded to 26,485 circuit kilometres (ckm), a 29.7 per cent increase as compared to 20,422 ckm a year ago

Adani surpasses Mukesh Ambani's RIL group firms in 2024 M&A deals

Listed entities of top five groups collectively account for 15.3% of total value

Adani announces Rs 65K cr investment in energy projects in Chhattisgarh

Industrialist Gautam Adani on Sunday called on Chhattisgarh Chief Minister Vishnu Deo Sai and announced an investment of Rs 65,000 crore in the Adani Group's energy and cement projects in the state, officials said. Adani met Sai at the latter's official residence in Chhattisgarh capital Raipur, a statement issued by the state's public relations department said. During the meeting, Adani announced a planned investment of Rs 60,000 crore to expand the group's power plants in Raipur, Korba and Raigarh in the state. This expansion will enhance Chhattisgarh's total power generation capacity by an additional 6,120 MW, the statement said. Additionally, the Adani Group chairman also committed Rs 5,000 crore for the development and expansion of the group's cement plants in the state, it said. On the advice of the CM, Adani also assured the state government of a Rs 10,000 crore impetus over the next four years to support initiatives in education, healthcare, skill development and tourism und

Youngest world chess champion Gukesh Dommaraju meets Gautam Adani

Billionaire Gautam Adani called teenager Gukesh Dommaraju -- who became the youngest world chess champion by beating defending champion Ding Liren of China -- a testament of India's unstoppable youth. The chess champion, along with his parents, met Adani in Ahmedabad. "It was an absolute privilege to meet and hear the victory story of reigning World Chess Champion @DGukesh," Adani, chairman of ports-to-energy Adani Group, said in a post on X. Posting pictures with the teenager and his parents, Adani said, "Equally inspiring was meeting his incredible parents, Dr Rajinikanth and Dr Padmavathi, whose quiet sacrifices laid the foundation for his success." "At just 18, Gukesh's poise and brilliance are a testament to India's unstoppable youth. Prodigies like him are inspiring a new generation, building an army of champions ready to dominate global chess for decades. This is the confident, resurgent and rising India. Jai Hind!" he said. Gukesh became the 18th world champion after defea

ISRO SpaDeX mission, farmer protest, Adani Enterprises, IND vs AUS & more

ISRO will launch its Space Docking Experiment mission at 10 PM tonight. This mission marks India’s first in-space docking technology demonstration using two small spacecraft.

Adani to acquire 85.8% stake in Air Works for Rs 400 cr enterprise value

Adani Group on Monday said it will acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore. "Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works, India's largest private sector MRO company with the largest pan-India footprint," the conglomerate said in a statement. With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.

Winter Session of Lok Sabha sees 57.87% productivity despite disruptions

The Lok Sabha's Winter Session, hamstrung by disruptions over issues ranging from Adani to billionaire George Soros' "links" with the Congress leadership and Amit Shah's Ambedkar remarks, had a productivity of 57.87 per cent, official sources said on Friday. The Lower House met on November 25 and was adjourned sine die (indefinitely) on Friday amid protests by the opposition and the treasury benches over the alleged insult to BR Ambedkar and directions by Speaker Om Birla to members against holding demonstrations at any gate of Parliament. Among the key bills introduced during the session were two that lay down the mechanism to hold simultaneous elections. The two bills were on Friday referred to a joint committee of Parliament for examination and wider consultations. The Lower House last week saw a debate on 75 years of the Constitution's adoption, during which the treasury and the opposition benches launched a series of attacks at each other. The Lok Sabha sat an extra day last

Adani Group plans Rs 20K crore super critical thermal power plant in Bihar

Billionaire Gautam Adani's conglomerate plans to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar even as it expands its cement, food processing and logistics business in the state. Speaking at the Bihar Business Connect 2024, Pranav Adani, Director, Adani Enterprises Ltd, said the ports-to-energy conglomerate is invested in three sectors in Bihar - logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore. "We are now going to invest another Rs 2,300 crore in these sectors. This investment will not only massively increase our warehousing and handling capacity and expand our presence in the EV, city gas distribution (CGD) and compressed biogas (CBG) space but will also generate an additional 27,000 direct and indirect local job opportunities," he said. The group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway Terminals, ICDs

HC upholds tender awarded to Adani Group to redevelop Dharavi slum sprawl

The Bombay High Court on Friday upheld the tender awarded to Adani Properties Private Limited by the Maharashtra government for the Dharavi slum redevelopment project in Mumbai. A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar dismissed a petition filed by UAE-based Seclink Technologies Corporation challenging the state government's decision to award the project to Adani Properties Private Ltd. The bench said the petition lacks force and effort and hence stands dismissed. The Adani Group had emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project and bagged it with its Rs 5,069-crore offer in the 2022 tender process. In the first tender issued in 2018, the petitioner company had emerged as the highest bidder with its Rs 7,200-crore offer. The government had, however, cancelled the 2018 tender and issued a fresh tender in 2022 with additional conditions. Seclink Technologies Corporation first challenged the cancellation of the 2018 te

Adani unveils new campaign as it looks to bounce back from US indictment

Billionaire Gautam Adani's conglomerate on Thursday unveiled a new version of its 'Hum Karke Dikhate Hai' campaign as it looks to bounce back from the damning indictment by the US authorities in an alleged bribery case. "Building on the success of its previous edition, this multi-media, multi-platform campaign moves beyond the conventional corporate strategy of emphasizing statistics and figures to focus on inspiring human-interest stories. These narratives showcase the profound, positive impact of Adani's infrastructure projects on the lives of millions of Indians," the group said in a statement. On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against chairman Gautam Adani, his nephew Sagar Adani and key executive Vneet Jaain. The charges relate to allegations of securities fraud, wire .

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

Dhaka has been behind on payments to Adani Power since supply started in July 2023

Adani Energy Solutions incorporates wholly owned subsidiary AESSTL

Adani Energy Solutions (AESL) on Thursday said it has incorporated a wholly owned subsidiary Adani Energy Solutions Step-Ten Ltd (AESSTL). The AESSTL is incorporated in India and registered with the Registrar of Companies, Gujarat in Ahmedabad on December 18, 2024 and is yet to commence business operations, a regulatory filing said. According to the filing, AESSTL is incorporated by AESL, for transmission, distribution and supply of power and other infrastructure services relating thereto. The authorised share capital as well as paid-up share capital of the arm is Rs 1 lakh. The equity shares are being acquired at a face value of Rs 10 each. The AESL will hold 100 per cent equity of the AESSTL.

Use technology to drive progress, guard against misuse: Jeet Adani

India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest 2024, Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. "But be it scary or exciting, we cannot afford to ignore technology or even go slow in our use of technology -- either as a nation or as its citizens. India cannot stay out of this global race," he said. "Our generation needs to build capabilities to lead India into this new technological era if we want to stay at the top of our game and realise our dream of Viksit Bharat -- to become a USD 26-trillion economy by 2047," he said. While technology has helped mankind progress, it is also being applied to wrong causes -- fake news, fake photos, fake videos, fake money, online scams, spoofing, phishing, and ...

Seci's Adani solar deal faces scrutiny after being approved against advice

Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had no short-term need for solar power

HC rejects plea against Adani power contract, fines petitioner Rs 50K

The Bombay High Court on Monday dismissed a petition challenging a contract awarded by the Maharashtra government to Adani Group for supply of renewable and thermal power electricity, noting the plea was "unsubstantiated and reckless". A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar also imposed a cost of Rs 50,000 on the petitioner - Shriraj Nageshwar Aepurwar - for the vague petition. Aepurwar alleged the contract awarded to the Adani Group for the supply of 6,600 megawatts of renewable and thermal power was a violation of the petitioner's fundamental right to have access to fair electricity supply at a reasonable rate. The plea also levelled allegations against former state chief minister Eknath Shinde, who is currently the deputy CM, of having been involved in corrupt practices while awarding the contract to Adani Group. The bench, however, refused to accept the contentions and said, "In our opinion, filing of such petitions containing unsubstantiated an

No problem with Adani funding Colombo Port project: Sri Lankan minister

The Sri Lankan government wants to see the deep-water container terminal project at the Colombo port go ahead and has no issue with the Adani-led conglomerate using its own resources to fund it, ports minister Bimal Rathnayaka has said. In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy. It is a very important project for revenue generation for the port, we are keen to see it going ahead," Rathnayaka told reporters during a tour of the port on Thursday. He said the Adani group's decision to reject funding from the US International Development Finance Corporation (DFC) was its own and Sri Lanka had no issues with it. The DFC, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container termi

Opposition protests in parliament, demands JPC probe on Adani issue

Several opposition MPs on Thursday staged a protest inside Parliament complex carrying placards of different Hindi letters that jointly read 'desh bikne nahin denge' and raised slogans to reiterate their demand of a joint parliamentary probe into the Adani issue. This is the latest in a series of unusual daily demonstrations led by the Congress over the Adani issue. Congress general secretary Priyanka Gandhi Vadra, MPs from the Congress, DMK, and the Left parties, among others, stood in front of the Makar Dwar steps and in front of Samvidhan Sadan with most of them carrying the placards that together read 'desh bikne nahin denge (will not let the country be sold off)'. They raised slogans against the alleged collusion between Modi and Adani and demanded a joint parliamentary committee (JPC) probe into the matter. On Wednesday, several opposition MPs greeted their BJP counterparts in Parliament premises with a tricolour in the form of a card in one hand and a red rose in the other,

Meeting Adani is not sin: TN BJP chief Annamalai slams DMK, Congress

It is the Congress and DMK MPs that started this bogus protest outside the Parliament saying that 'Adani-BJP Ek Hai, said Annamalai

AIADMK slams Tamil Nadu CM Stalin, says he is a 'pathological liar'

This comes after Stalin rejected his allegations that he had a meeting with Gautam Adani

Big cos creating monopoly to drive small shopkeepers out: Rahul Gandhi

Leader of Opposition in the Lok Sabha Rahul Gandhi on Tuesday said "big companies are creating a monopoly" to drive small shopkeepers out of business and asserted that he is talking about strengthening such small businesses as they are holding the country's economy together. Gandhi posted a video on his social media handles on his recent visit to a 'kirana store' in Delhi's Bhogal to learn about the issues being faced by such small business owners. "There are about 1.3 crore grocery shops in the country. And about 15 to 20 crore families are directly or indirectly dependent on these shops. Recently, I visited one such shop in Bhogal, Delhi and talked to the shopkeepers, workers and some customers there," he said in the post accompanying the video. "The shop owners told me that they are under a lot of pressure since the arrival of quick commerce companies. Big companies are creating a monopoly so that small shopkeepers can be put out of business," the former Congress chief said. Goo