Page 14 - Adani

Adani Energy Solutions Q2 results: Net profit doubles to Rs 674.96 crore

Q2 profit helped by better ops, deferred tax reversal

Key deals in India's cement sector since Adani Group's entry in 2022

A company tribunal approved Sagar Cements' $9.20 billion bid to take over Jaypee Group-owned Andhra Cements

Stocks To Watch: Adani Energy, Cochin Shipyard, HDFC Life, Vi, Ola Electric

Stock Market Today: Tata Motors-owned Jaguar Land Rover reported a 36 per cent year-on-year increase in retail sales for the first half of the fiscal year

Adani Energy Solutions acquires 2 SPVs from PFCCL for about Rs 38 cr

Adani Energy Solutions Ltd (AESL) on Tuesday said it has acquired two project special purpose vehicles from PFC Consulting Ltd for cash consideration of about Rs 38 crore. In two separate BSE filings, AESL stated that on October 14, 2024 it executed share purchase agreements with PFC Consulting Ltd (PFCCL) for acquiring 100 per cent equity shares of Jamnagar Transmission Ltd and Navinal Transmission Ltd. PFCCL, a subsidiary of Power Finance Corporation, received a cash consideration of Rs 19,28,48,589 for JTL and Rs 19,14,40,997 for NTL. Jamnagar Transmission Ltd (JTL) is established for the development of network expansion scheme in Gujarat for drawl of about 3.6 GW load under Phase-I in Jamnagar area. Navinal Transmission Ltd (NTL) aims drawl of up to 4.5 GW load in Mundra area of Gujarat from bulk consumers/ distribution licensee and green hydrogen.

Adani Group returns to dollar market with new green bond sale initiative

Dollar bond sales from Indian issuers are running at their highest in three years, with companies raising about $10 billion so far in 2024, as spreads on dollar debt hover near their lowest in decades

Sri Lanka's new govt reconsidering approval to Adani's power project

Sri Lanka's new government led by Anura Kumara Dissanayake on Monday told the Supreme Court that it would reconsider the approval granted by the previous government to India's Adani Group for a wind power project. A five-member Supreme Court (SC) bench was told on behalf of the attorney general that the decision to review the project had been taken at a Cabinet meeting held on October 7. The final decision of the new government would be conveyed after the installation of the new Cabinet after the November 14 parliamentary election, the court was told. President Dissanayake in the run-up to the September 21 presidential election had pledged that his National People's Power (NPP) alliance would annul the project. The NPP claimed that the project posed a threat to Sri Lanka's energy sector sovereignty and promised that it would be cancelled in the event of their victory. The Adani Group was set to invest over USD 440 million in the 20-year agreement for the development of 484 megawat

Bangladesh likely to retain power purchase pact with Gautam Adani

One contract being scrutinised over price concerns is a 2017 deal to buy electricity for 25 years from Adani's $2-billion, 1,600-MW power plant in India's eastern state of Jharkhand that exclusively s

Adani Airport Holdings teams up with Thales for cloud-based solutions

Adani Airport Holdings (AAHL) and Thales have joined hands for the implementation of cloud-based solutions at AAHL managed airports in India for streamlining the operations

Adani Group stocks in focus; Energy Solutions, AEL rally up to 6%

Shares of Adani Energy Solutions, Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar and Ambuja Cements were up in the range of 2 to 6 per cent.

Parl panel calls Sebi chief Buch on Oct 24 amid Adani-Hindenburg row

The Public Accounts Committee (PAC) of Parliament has decided to review the functioning of top regulatory authorities in the country and has called heads of SEBI and TRAI for deposition on October 24. Top officials of the Ministry of Finance, (Department of Economic Affairs) and Ministry of Communications have also been asked to appear before the key parliamentary panel, with sources saying representatives of the Securities and Exchange Board of India (SEBI) chairperson Badhabi Puri Buch and Telecom Regulatory Authority of India (TRAI) chairperson Anil Kumar Lahoti are likely to appear before the panel. Sources said the unstated convention in parliamentary practice is that chiefs of institutions have to attend parliamentary panel briefings whenever summoned. The meeting of the key parliamentary panel comes amid a major row over allegations made by US research body Hindenburg against SEBI chairperson Madhabi Puri Much and her husband Dhaval Buch over her alleged links with the Adani

Adani Group plans to invest $900 mn in Tanzania power lines in PPP mode

Adani Group has expressed its interest to the East African government, according to David Kafulila, executive director of Tanzania's Public-Private Partnership Centre

Adani's airport project spark protests, lawsuits, hearings in Kenya

Adani would also be allocated land to build hotels and businesses to compliment the airport, as well as being granted favorable tax treatment from the Kenyan government

Adani's about $1.3 billion share sale likely to start next week: Report

Adani Enterprises Ltd. is looking to raise about $1.3 billion through a so-called qualified institutional placement and is expected to start the process as early as the week starting Oct. 7

Maha govt okays houses for slum project-hit people on Mumbai salt pan land

Maharashtra cabinet on Monday approved the utilisation of 255 acres of salt pan land in Mumbai to develop houses for slum rehabilitation project-hit people, assigning the implementation responsibility to Adani group's Dharavi Slum Redevelopment Project. The state government had written to the Centre to transfer the salt pan land in Mumbai on lease. The salt pan land utilisation decision also covers the beneficiaries of affordable housing and similar schemes. The Adani group-controlled Dharavi Redevelopment Project will be responsible for implementing this decision (to develop houses for slum rehabilitation project-affected people), the government stated after Chief Minister Eknath Shinde chaired the cabinet meeting. The 255.9 acres of salt pan land to be acquired include 120.5 acres in mauje Kanjur, 76.9 acres in Kanjur and Bhandup and 58.5 acres in mauje Mulund. According to the government, the additional chief secretary of the state housing department is designated to sign an ..

3 Adani firms join WEF initiative to play role in global decarbonisation

Three Adani group firms -- Adani New Industries Ltd, Adani Ports and Special Economic Zone Ltd (APSEZ) and Ambuja Cements Ltd -- have joined the World Economic Forum's 'Transitioning Industrial Clusters' initiative, forming the Adani Mundra Cluster. This initiative aims to enhance collaboration and align the vision of co-located companies to drive economic growth, generate employment and advance decarbonisation by 2050, the group said in a statement. "By joining the WEF initiative, the signatories will have the opportunity to collaborate with global industry peers, think tanks, policymakers and experts to pioneer innovative approaches towards decarbonization," said Karan Adani, Managing Director of APSEZ and Director of Ambuja Cements. "The Adani Mundra Cluster aspires to become an integrated green hydrogen manufacturing hub, helping to decarbonise the hard-to-abate sectors of the Indian economy and reduce the country's dependency on energy imports." The WEF has played an important

Adani Airport Holdings raises Rs 1,950 crore through biggest bond issue

SBI Equity Hybrid Fund, Aditya Birla Finance and Aditya Birla Sunlife Mutual Fund are the anchor investors and have invested Rs 285 crore, Rs 100 crore and Rs 50 crore, respectively

Adani's proposal to run Kenya's main airport sparks protests, lawsuits

A court has already frozen Adani's unsolicited bid to expand Jomo Kenyatta International Airport

Adani Group, Bombardier explore partnership to boost Indian aviation sector

Discussions between Adani Defence & Aerospace and Canadian jet manufacturer Bombardier primarily focused on aircraft services, maintenance, repair, and overhaul (MRO)

Adani Energy Solutions valued at $18.5 bn; revenue to grow 20% over 3 years

Adani Energy Solutions Ltd, power transmission utility of the Adani group, is valued at USD 18.5 billion at enterprise level and a strong business growth is likely to propel a 29 per cent compounded growth in its pre-tax profits over the next three years, a report said. AESL has a diversified portfolio that includes transmission assets, distribution assets, and a smart metering business. "With an enterprise value of USD 18.5 billion, we believe AESL to be a very attractive way to play the rapidly expanding energy markets in India," global brokerage Cantor Fitzgerald said, initiating coverage of the company. It believes AESL offers growth unlike any other publicly traded utility/energy company across US, Europe, or Asia. "We forecast total revenue to grow at a CAGR of 20 per cent from FY24 to FY27 and adjusted EBITDA to grow at a CAGR of 28.8 per cent." This compares to peers growing revenue at low single digits and EBITDA at mid-single digits. Stating that it is growing meaningful

Airport lounge access disrupted after Dreamfolks suspends services: AAHL

Adani Group's subsidiary Adani Airport Holdings Ltd (AAHL) on Sunday said passengers at airports across the country have been experiencing disruptions in airport lounge access, owing to the abrupt suspension of the services by Dreamfolks. AAHL, in a statement, said it is "actively working" with the banks to facilitate the immediate resumption of services, which have not yet been restored. AAHL operates seven airports in the country -- Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru. "Passengers at airports across India have been experiencing disruptions in lounge access. This is due to the unexpected suspension of services by Dreamfolks Services Ltd, a lounge access provider partnered with several banks, in violation of its service agreements with the affected airports," AAHL said in the statement. AAHL is working with banks to facilitate the immediate resumption of services, it said, adding, "despite our requests, services through Dreamfolks have not