Page 18 - Adani

Adani Wilmar posts Rs 313 cr profit in June quarter on higher income

Edible oil major Adani Wilmar on Monday reported a consolidated net profit of Rs 313.20 crore for the first quarter of this fiscal on higher income. The company had posted a net loss of Rs 78.92 crore in the year-ago period. The total income rose to Rs 14,229.87 crore during the April-June period this fiscal from Rs 12,994.18 crore in the corresponding period of the previous year, according to a regulatory filing. Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar, is into edible oil, food & FMCG and industry essentials businesses. The company sells most of its products under the 'Fortune' brand.

Adani Group to commission first phase of $4 bn petchem project by Dec 2026

The Adani Group will commission the first phase of a USD 4 billion PVC project by December 2026, making its foray into the petrochemicals sector that is marked by a mismatch between domestic demand and supply, sources said. Polyvinyl chloride (PVC) - the third-most common synthetic plastic polymer made worldwide - is used to make products such as raincoats, shower curtains, window frames, pipes for indoor plumbing, medical equipment, wire & cable insulation, bottles, credit cards, and flooring. India's annual PVC demand is roughly 4 million tonne but domestic production capacity is only about 1.5 million tonne, resulting in a supply-demand mismatch. With this disparity between domestic output and consumption expected to widen with an increase in consumption, Adani Group is looking to tap into the sector. Adani Enterprises, the group's flagship firm, is setting up a petrochemical cluster in Mundra in Gujarat. Within this cluster, it aims to set up a PVC plant with a capacity of 2 ..

Adani Energy posts Rs 823 cr net loss in Q1 amid Dahanu divestment decision

Operational earnings before interest, taxation, depreciation and ammortisation (Ebitda), the company said, rose 30 percent to Rs 1628 crore

Adani Group submits investment proposal for Nairobi airport upgradation

Kenya Airports Authority (KAA) on Wednesday said it has received an investment proposal from the Adani Group for the upgradation of the airport in Nairobi. The investment proposal under the public-private partnership has been submitted by Adani Airport Holdings Ltd (AAHL) for Nairobi's Jomo Kenyatta International Airport (JKIA). Currently, AAHL manages seven airports in India and is also developing the Navi Mumbai airport. In a statement, JKIA Managing Director and Chief Executive Officer Henry Ogoye said the proposal came following the Kenyan government approving a medium-term investment plan for the upgradation of the passenger terminal building, runway, taxiway and apron at the Nairobi airport. "Kenya Airports Authority (KAA) received an investment proposal under the Public Private Partnerships Act 2021 from the Adani Airport Holdings Limited, a key airport operator, to invest in a new passenger terminal building, second runway and refurbishment of the existing facilities at JKI

Adani Group eyes Jaypee Group's cement assets amid insolvency proceedings

Adani Group's cement arm, which includes ACC and Ambuja Cement holding, is India's second-largest cement producer

Adani-Hindenburg row: SC quashes plea seeking review of Jan 3 verdict

The plea said Sebi had only updated the court about the status of its 24 investigations after the allegations, without disclosing any details of action taken

Sebi has a strong case against US-based Hindenburg Research, say lawyers

On June 26th, the Sebi issued show-cause notices to Hindenburg Research LLC, US-based hedge fund manager Mark E Kingdon, and four others

Decoded: Hindenburg vs Adani saga raises more questions about short selling

The saga between Hindenburg Research and the Adani Group continues to be a complex web of accusations and investigations.

Congress targets PM over 'Adani group taking Chinese help in solar project'

Congress leader Jairam Ramesh on Saturday slammed Prime Minister Narendra Modi over a news report that the Adani Group has "selected eight Chinese companies to help" its solar manufacturing project and called for a strategy "to wean India of its dependence on China". He said it has to be ensured that the taxpayers' money does not benefit Chinese companies. In a post on 'X', Ramesh said, "The non-biological Prime Minister infamously told the nation on June 19, 2020, after the Galwan clashes that 'Na koi hamari seema mein ghus aaya hai, na hi koi ghusa hua hai (Neither has anyone entered our borders, nor has anyone occupied territories)'." "However, he shows no hesitation in liberally issuing visas to Chinese workers to help one of his 'tempowallah' buddies," he said in the post on 'X' while tagging with it a newspaper report about Adani Solar seeking Centre's nod to bring a few engineers from China. Ramesh's "tempowallah buddies" jibe is in reference to PM Modi's attack on Rahul ..

Adani to invest Rs 1.3 trn in FY25 across portfolio companies, says CFO

The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation

Ready to cash in on infrastructure sector, says Gautam Adani at AGM

Adani added that India's spend on infrastructure is expected to reach a cumulative total of $2.5 trillion

Adani, Hindalco show interest in Hindustan Copper's Jharkhand mines

The interest from Adani Enterprises and Hindalco Industries, two of India's leading industrial conglomerates, highlights the potential and attractiveness of these mines

Hindenburg report timed to disrupt FPO, company growth strong: Gautam Adani

Addressing an annual general meeting with shareholders, Adani Group chairman Gautam Adani pointed out that certain sections of the media played a role in amplifying the attack

Adani draws Rs 9.26 cr salary in FY24, lower than his executives, peers

India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives. Adani, 61, drew salary from only two out of the 10 companies in his ports-to-energy conglomerate, annual reports of the 10 listed entities of the group showed. His remuneration for 2023-24 from the group's flagship firm Adani Enterprises Ltd (AEL) included Rs 2.19 crore salary and perquisites, allowances and other benefits worth Rs 27 lakh. The total remuneration of Rs 2.46 crore was 3 per cent more than the previous financial year, according to AEL's 2023-24 annual report. Besides, he drew Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ). Adani's salary is lower than heads of almost all large family-owned conglomerates in India. While the richest Indian, Mukesh Ambani has been foregoing his entire salary since Covid-19 broke out prior to which he had capped his remuneration at Rs 15 .

Vedanta Group biggest wealth creator in FY25; adds over Rs 2.2 trn in mcap

Vedanta Group comprising, Vedanta Ltd and Hindustan Zinc Ltd, have generated the maximum wealth for investors on the Dalal Street in the current fiscal so far, with the combined market valuation of both firms surging by Rs 2.2 lakh crore. The market capitalisation of the Vedanta Group surged by over Rs 2.2 lakh crore between March 28 and June 20, 2024, according to stock exchange data. This is higher than the market cap growth witnessed by leading Indian businesses like Reliance Industries, Mahindra Group, and the Tata Group during the same period. Share prices of Vedanta and Hindustan Zinc have doubled from their 52-week lows, backed by multiple positives, including the proposed demerger, the management's consistent focus on deleveraging, and significant improvement in earnings, as per stock exchange data. In comparison, Adani and Mahindra groups saw their market cap rise by Rs 1.4 lakh crore each. While Tata Group's market cap rose by over Rs 60,600 crore, heavyweight RIL's mark

Adani terms Cong 1991 reforms as runway, Modi's tenure as economic take-off

"If the period between 1991 and 2014 was about putting down the foundations and building the runway, the period from 2014 to 2024 has been about the aircraft taking off," Adani said

Penna Cement acquisition: Adani spells out Lanka, South India strategy

Company sets target to achieve 140 MTPA capacity by 2028, aided by greenfield expansions

Adani Enterprises promoters raise stake in company by 2.02% to 73.95%

Total promoter holding in the Adani Group flagship firm has now risen to 73.95% from 71.93% last September

Two years since, Adani Cement have aimed for market inefficiencies

The entry, cement executives suggest, has either had zero impact or appears to have accelerated consolidation and its benefits for larger players

Trial to triumph: Adani Group firms echo message in latest annual reports

Five Adani group listed entities - NDTV, Adani Ports and SEZ (APSEZ), Ambuja Cements, Adani Energy Solutions and Adani Green Energy (AGEL), have released their annual reports so far