Adani Group – The News Desk

Stocks to Watch: Wipro, Biocon, Titan, Adani Group, Voda Idea, Zee Ent, and Others

8Apr

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Business

Stocks to Watch: Wipro, Biocon, Titan, Adani Group, Voda Idea, Zee Ent, and Others

Stocks to watch on April 8Stocks to watch: Shares of firms like Wipro, Biocon, Titan, Adani Group, Voda Idea, Zee Ent, and others will be in focus on Monday's trade.Stocks to Watch on April 8: Equity markets started the new fiscal on a high as benchmark indices scaled fresh lifetime highs last week. In today’s trade, shares of Nestle India, Titan, Vodafone Idea, Wipro, Tata Steel will be in focus.Healthcare: Shares of healthcare related firms likely to be in focus as Manipal Health Enterprises nears Rs 1,400 crore deal to acquire Medica. Post acquisition, Manipal will become India’s largest hospital chain with over 10,700 beds overtaking Apollo Hospitals in the process.Biocon: The Kiran Mazumdar Shaw led firm, is leading the charge among Indian drugmakers, as they race to grab a slice of ...

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

7Apr

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Business

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

AHMEDABAD: Adani Group will invest about Rs 2.3 lakh crore through 2030 in India's most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India's largest renewable energy company, will invest about Rs 1.5 lakh crore in expanding capacity to generate electricity from solar energy and wind power at Khavda in Gujarat's Kutch to 30 gigawatts from 2 GW currently and another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country, a top company official said. Adani New Industries Ltd (ANIL), a unit in the group's flagship Adani Enterprises Ltd, will invest close to Rs 30,000 crore in expanding solar cell and wind turbine manufacturi...

28Dec

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Business

ICRA assigns AA+ rating to Adani Ports on strong business profile

India's largest private port operator Adani Ports and Special Economic Zone has moved one step closer to returning to the corporate bond market, as it has received ratings earlier this week for a planned debt issue. Rating agency ICRA has assigned AA+ rating for 100 billion rupees ($1.20 billion) of bonds of the company, while India Ratings and Research has assigned AA+ rating to bonds worth 50 billion rupees, according to ratings notes. While ICRA said its rating factors in the company's strong business profile, India Ratings said it continues to take a consolidated view of the company and its subsidiaries. Earlier in December, Reuters reported citing sources that Adani Ports is mulling a fundraise of up to 10 billion rupees from the domestic bond market in th...

Adani Family: Adani group plans $1 billion investment in green energy arm

21Dec

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Business

Adani Family: Adani group plans $1 billion investment in green energy arm

Billionaire Gautam Adani and his family plan to inject $1 billion into the conglomerate’s renewable energy unit, people familiar with the matter said, as the group races to reach ambitious green goals while facing maturing bonds next year. Adani Green Energy Ltd is looking to issue preferential shares to the company’s founders for meeting expansion and refinancing needs, according to the people familiar with the discussions who didn’t want to be identified as the talks are private.Shares rose as much as 6.7% in Mumbai after the news broke, paring this year’s loss to 20%.An Adani Group representative didn’t offer an immediate comment on the founders’ investment.The company board will consider fundraising proposals on December 26, including evaluating options such as selling shares or conve...

Tatas top wealth creators among India’s business houses

12Dec

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Business

Tatas top wealth creators among India’s business houses

MUMBAI: As the sensex rallied, conglomerates saw their stock rise among shareholders. Topping the list of wealth creators is India's largest conglomerate, the House of Tatas. The group, helmed by N Chandrasekaran, added nearly Rs 6 lakh crore to investor wealthsince September 24, 2021 when the sensex touched 60,000 points - a return of 25%. Among the 26 listed companies, Tata Investment Corporation generated a return of 227% in the same period.Next is Adani Group. Its 10 listed companies together added Rs 4.3 lakh crore too investor wealth, a return of 42%. "Despite the Hindenburg saga, Adani Group emerged as a major wealth creator during this period. None of the Adani companies posted negative returns. Adani Power has been the largest wealth generator, with its share price appreciating m...

Lic Shares: LIC shares rally on Adani portfolio

8Dec

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Business

Lic Shares: LIC shares rally on Adani portfolio

MUMBAI: Shares of LIC hit a 52-week high in the NSE on Thursday before retreating to close at Rs 785. Analysts attributed the increase to the rally in the value of Adani group companies’ stocks, in which the corporation has a substantial shareholding.Shares of LIC have been rallying for the last fortnight, gaining nearly 30% from Rs 608 on November 22.LIC holds stakes in sevenAdani Group companies, including 9% in Adani Ports & Special Economic Zone and 4.2% in Adani Enterprises, which has gained 16% from its lows.The Adani Group companies have witnessed a significant rally in the last four months.!(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (...

Gautam Adani’s Wealth Soars By $10 Bn In A Week, Takes 16th Rank In Global Rich List

6Dec

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Business

Gautam Adani’s Wealth Soars By $10 Bn In A Week, Takes 16th Rank In Global Rich List

Gautam Adani's Net Worth Up $10 Billion In 7 Days: A Significant Jump, What's Next?Adani's Net Worth: Stock Rally Propels Adani Up Rich List, Adding a Whopping $10 Billion in a Week What's Next?Gautam Adani, the Indian billionaire and chairman of the Adani Group, has seen his net worth surge by $10 billion in just the past week. His current fortune stands at a staggering $70.3 billion, as per the Bloomberg Billionaires Index.Also Read: Adani Green Energy Rally 18% On Securing $1.36 billion In Follow-On FundingFollowing a surge in wealth, Gautam Adani now occupies the 16th spot on the global rich list, making him the second Indian billionaire to crack the coveted Top 20. He joins fellow countryman Mukesh Ambani, who comfortably holds the 13th position with a net worth of a whopping $90.4 b...

Gautam Adani’s wealth swells by $5.6 billion on relief rally

4Dec

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Business

Gautam Adani’s wealth swells by $5.6 billion on relief rally

A stocks rally in firms owned by Gautam Adani added $5.6 billion to his net worth last week after India’s top court concluded hearings in a lawsuit where the markets regulator is probing wide-ranging allegations of corporate malfeasance against the conglomerate.The founder of the Adani Group, whose stocks were battered earlier this year after a bombshell shortseller report in January, now ranks 20th on the Bloomberg Billionaires Index with a $65.8 billion fortune.Most of this gain was on Tuesday — the first trading day last week after India’s Supreme Court reserved its verdict on the probe saying it won’t take scathing media reports on the conglomerate as the “gospel truth.” The final court ruling is awaited.Investors, however, seem to have taken court’s observations as a positive cue, st...

Adani group adds Rs 1 trillion in mcap, biggest single-day jump since April

28Nov

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Business

Adani group adds Rs 1 trillion in mcap, biggest single-day jump since April

Shares of Adani Group companies rallied 5-20 per cent on Tuesday, the first trading day after the Supreme Court reserved its orders in the matter pertaining to allegations made by US-based Hindenburg Research and their investigation by the Securities and Exchange Board of India (Sebi). The 11 listed group companies added over Rs 1 trillion in market capitalisation (cap), surpassing Rs 11 trillion. This was the biggest single-day jump in the group’s market cap since April 11. Experts said the gains were owing to improvement in investor sentiment following last week’s proceedings in the Supreme Court and hopes that the port-to-power conglomerate will now have a clear pathway to growth. Some said investors were lapping up beaten-down group shares in anticipation t...

Coal Imports: Government seeks to revive probe into Adani coal imports

17Nov

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Business

Coal Imports: Government seeks to revive probe into Adani coal imports

The government is seeking to restart a probe into Adani Group coal imports from Indonesia, a potential setback for the sprawling conglomerate that’s still recovering from a brutal shortseller report earlier this year. The nation’s Directorate of Revenue Intelligence, or DRI, which is part of the finance ministry, has again reiterated its request to India’s Supreme Court to revive an investigation that began in 2015 into an Adani Singapore entity and the alleged over-invoicing of imported coal by billionaire Gautam Adani’s companies, according to an Oct.9 court filing seen by Bloomberg News.The probe hit a roadblock several years ago after there were legal objections pertaining to obtaining documents from the Singapore unit.Adani Group imports Indonesian coal into India via Singapore. Adan...