Page 6 - Gautam Adani

Adani made Rs 10,000 commission from first trade in 1981 at the age of 19

Billionaire Gautam Adani, a college dropout who built a multi-billion dollar infrastructure empire spanning ports to energy, on Monday revealed that he made a commission of Rs 10,000 from his first trade at the age of 19. Born in Ahmedabad, Adani, 62, moved to Mumbai at the age of 16 and joined a diamond assortment company. He quickly picked up trade and in about three years, started his own diamond trading brokerage in Mumbai's Zaveri Bazar. "I still recall the day I did my first trade with a Japanese buyer. I made a commission of Rs 10,000. I was 19 years old, and this was the start of my journey as an entrepreneur," he said while speaking at the Adani International School here. This was in the year 1981. He soon returned to Gujarat to help his elder brother Mahasukhbhai run a small-scale PVC film factory the family had acquired in Ahmedabad. In 1988, he set up a commodities trading venture under Adani Exports and listed it on the bourses in 1994. The firm is now called Adani ...

Hindenburg Research announces winding up of operations; Adani shares rally

The firm's founder Nate Anderson posted about the disbanding on Hindenburg's website without specifying any single reason for the decision

Hindenburg's Nate Anderson: Man who 'shook empires that needed shaking'

In his parting shot, Anderson said he was naïve about the dangers he would face when he started Hindenburg but was drawn to the path he chose "magnetically"

'Kitne ghazi aaye, kitne ghazi gaye': Adani CFO after Hindenburg shutdown

Hindenburg Research, which had accused Adani Group of financial mismanagement, caught many by surprise by announcing its sudden shutdown

Hindenburg, Adani, and Buch: The investigations that shook markets

Hindenburg's reports revealed major corporate issues, including Adani's $100 billion market loss and other industry investigations. The firm has now announced its closure

Republican Congressman demands preservation of Adani prosecution records

A Republican lawmaker has asked the US Department of Justice to preserve all records in connection with the "selective prosecution" of billionaire industrialist Gautam Adani and his group of companies by the Biden administration. The demand comes less than a week before the Donald Trump administration takes office. Rep Lance Gooden, a member of the House Judiciary Committee, in a letter on Tuesday to Attorney General Merrick Garland, demanded that the department preserve and produce all records and documents leading up to its decision to go after the Adani Group. In another letter to Garland on January 7, Gooden had raised serious concerns over the department's recent indictment of the group. The indictment alleged acts conducted entirely within India, involving Indian citizens and officials, with no apparent injury to US interests, he had noted. "The allegations in the Adani case, even if proven true, would still fail to make us the appropriate and final arbiter on the issue. The

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

Adani group, Iskcon join hands for mahaprasad seva at Prayagraj Maha Kumbh

The Adani Group and the International Society for Krishna Consciousness (ISKCON) have joined hands to serve meals to devotees at the Maha Kumbh Mela in Prayagraj this year. The Mahaprasad Seva will be offered for the entire duration of the Maha Kumbh Mela, from January 13 to February 26. To thank ISKCON for this initiative, Adani Group chairman Gautam Adani on Thursday met Guru Prasad Swami, the Chairman of ISKCON Governing Body Commission (GBC). Speaking about ISKCON's support in offering the Mahaprasad Seva, Adani said, "Kumbh is a sacred place of seva, where every devotee gets involved in the name of seva to God. It is my good fortune that we are starting the 'Mahaprasad Seva' for the devotees at the Maha Kumbh in collaboration with ISKCON. "With the blessings of Maa Annapurna, free food will be provided to lakhs of devotees. Today, I got the opportunity to meet Guru Prasad Swami ji of ISKCON and I deeply experienced the power of dedication towards seva. In the true sense, seva

US Congressman challenges Biden admin's decision to investigate Adani

Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners. In a strongly worded letter to US Attorney General Merrick B Garland, Congressman Lance Gooden, member of the House Judiciary Committee, demanded answers on the Justice Department's selective prosecution of foreign entities and the potential harm such actions pose to US's global alliances and economic growth and that if there is any Geroge Soros connection to it. The Department of Justice's selective actions risk damaging critical alliances with key partners like India, one of America's strongest allies in the Asia-Pacific region, Gooden said in his letter dated January 7. Instead of pursuing cases with tenuous jurisdiction and limited relevance to US interests, the DOJ should focus on punishing bad actors at home, rather than chasing

Adani Group's US SEC, NY cases assigned to one judge for efficiency

US SEC and Eastern District of New York cases against Adani Group, alleging a $265 million bribery scheme, assigned to a single judge for smoother handling while remaining distinct

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

'Balance is what brings you joy': Gautam Adani on 70-hour work week debate

The Adani Group chairman's remarks come in the wake of NR Narayana Murthy's advocacy for a 70-hour work week, which he proposed as a means for India to compete with developed economies

Donald Trump to Sunita Williams: Who were the top newsmakers of 2024

From Mukesh Ambani hosting one of the most extravagant weddings to Gisele Pelicot's mass rape trial in France, here is a list of all the top newsmakers of 2024

Adani Enterprises revenue to jump to Rs 1.5 trn, earnings to rise 46%

Adani Enterprises Ltd, the flagship company of the ports-to-energy conglomerate helmed by billionaire Gautam Adani, is likely to see consolidated revenue grow at a CAGR of 17.5 per cent and net earnings by 45.8 per cent over 2023-24 fiscal year (FY24) and FY27, a report said. AEL is one of India's largest listed incubators which has conceived, grown, matured and demerged many successful businesses, including ports company Adani Ports & SEZ, city gas distributor Adani Total Gas, power transmission company Adani Energy Solutions, renewable energy firm Adani Green Energy, Adani Power, and commodities firm Adani Wilmar. The company is incubating airports, manufacturing solar modules and wind turbines, green hydrogen, road construction, data centre, and copper. "Adani Enterprises Ltd (AEL), the incubator of many successful industry-leading businesses, is ambitiously diversifying into green hydrogen and its ecosystem to drive future growth," Ventura Securities said in the ...

Here's how India Inc and industry leaders pay tribute to Manmohan Singh

Billionaire industrialist Gautam Adani described former Manmohan Singh as "a rare leader who spoke softly but achieved monumental strides through his actions"

Newsmakers of 2024: The Indian personalities who dominated the headlines

From political leaders like Narendra Modi and Rahul Gandhi to icons like Ratan Tata and Diljit Dosanjh, the newsmakers of 2024 left a lasting mark across politics, business, and entertainment

US attorney involved in fraud indictment of Gautam Adani to resign

He was appointed by President Joe Biden in 2021 and will leave before President-elect Donald Trump takes office January 20

Ambani, Adani exit Bloomberg's $100 billion club amid financial setbacks

Mukesh Ambani and Gautam Adani, once part of Bloomberg's $100 billion club, have dropped out as their fortunes fell below $100 billion amid business challenges, legal scrutiny, and market setbacks

GRAP III restriction in Delhi, inflation, and more

GRAP-III restrictions have been reimposed in Delhi and the national capital region due to "unfavourable weather conditions, including calm winds and low mixing height," the Commission for Air Quality

US' case against Gautam Adani strong but extradition unlikely: Experts

Adani, his nephew Sagar Adani, and another Adani Group executive were charged with securities fraud and conspiracy