Page 18 - Adani

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

'Speculative, untrue': Paytm, Adani Group deny stake sale in fintech major

News report said coal-to-airports conglomerate is buying a stake in the digital payments firm

'Speculative, untrue': Paytm, Adani Group deny stake sale in fintech major

News report said coal-to-airports conglomerate is buying a stake in the digital payments firm

AI, cloud, and super app: Adani group looks to bet big on technology

At present, the Adani Group operates across multiple sectors such as energy and utilities, transportation, and logistics, among others

Now, Adani Group plans to enter India's digital payment, e-commerce spaces

The Adani Group plans to offer new services through its consumer app, Adani One, which was launched in late 2022. The app currently offers travel services such as flight and hotel bookings

NMDC, Dish TV, Adani Energy, SpiceJet among five stocks to watch on May 28

Stocks to watch on May 28: NMDC reported a significant downturn in net profit, which decreased by 37.8 per cent to Rs 1,412.7 crore compared to Rs 2,271.5 crore in the previous year

21 int'l bodies ask CJI for early resolution of Adani coal imports case

At least 21 international organisations have written to Chief Justice DY Chandrachud and requested the Supreme Court to speedily resolve the pending case filed by the Directorate of Revenue Intelligence, investigating Adani Group firms for alleged overvaluation of Indonesian coal imports. The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013. Contending that they stand firmly against the continued use of fossil fuels, the organisations said the Financial Times report provided fresh and detailed evidence of the passing off of "low-quality coal as far more expensive cleaner fuel" by the Adani Group in transactions with Tamil Nadu's Tangedco. The 21 international organisations that have written to Chief Justice Chandrachud are Australian Centre for International Justice, Banktrack,

Norway excludes Adani Ports from govt pension fund over ethical concerns

US defence contractor L3Harris Technologies and China's Weichai Power have also been excluded