Friday, December 27

Tag: Adani Group

With US funding in pocket, Adani plans expansion of overseas port empire
14Nov By adminNo Comments
Business

With US funding in pocket, Adani plans expansion of overseas port empire

By P R Sanjai and Chris Kay Standing before Sri Lankan officials and US diplomats in a five-star hotel in Colombo last week, Karan Adani boasted that a newly inked $553 million US government financing deal toward a port terminal being developed by his family’s conglomerate was a “reaffirmation by the international community.”   The announcement marked a welcome reprieve for India’s Adani Group following a damaging short-seller attack and a number of corporate fraud allegations leveled against it this year. It also signaled Washington’s endorsement for the port empire owned by Karan’s father and billionaire Gautam Adani — seen as a close ally of Prime Minister Narendra Modi — that would help curb China’s maritime influence in the Indian ocean.  Those w...
Read More
Sensex up 450 pts, Nifty near 19,150; REC, PFC zoom 6%
2Nov By adminNo Comments
Business

Sensex up 450 pts, Nifty near 19,150; REC, PFC zoom 6%

Stock market updates on November 02, 2023: Mirroring strong gains in Asian peers following a pause in rate hike by the US Fed and hints of a pivot in place, the Indian equity benchmark indices traded with a bullish bias on Thursday.  The S&P BSE Sensex was up over 550 points at 64,150. The NSE Nifty50 was seen quoting around the 19,150 level, up over 150 points. Among the Sensex 30 stocks, IndusInd Bank, Infosys, Axis Bank, SBI, Kotak Bank, HCL Technologies and TCS were up over 1 per cent each. Tata Steel, however, was down a per cent post Q2 loss. In the broader market, both, the BSE MidCap and SmallCap indices rallied over a per cent each. Sectorally, the BSE IT, Consumer Durables and Realty indices were up over a per cent each.   ...
Read More
AESL commissions green evacuation transmission project in Tamil Nadu
27Oct By adminNo Comments
Business

AESL commissions green evacuation transmission project in Tamil Nadu

Adani Energy Solutions Ltd (AESL), a power transmission company, has announced its successful commissioning of the Karur Transmission Ltd (KTL) project. This project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station and an associated 8.51 circuit kilometres (CKM) transmission line in Tamil Nadu. With a transformation capacity of 1,000 MVA, this project aims to facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone. It also aims to strengthen the southern regional grid and support the integration of renewable energy sources on a large scale. The Karur/Tiruppur Wind Energy Zone is a crucial wind corridor in Tamil Nadu, housing significant wind energy capacities and multiple under-construction wind farms. AE...
Read More
Adani to pump in Rs 20,000 cr for 4x boost in ports capacity by 2030
15Oct By adminNo Comments
Business

Adani to pump in Rs 20,000 cr for 4x boost in ports capacity by 2030

The Adani group is planning to invest up to Rs 20,000 crore in expanding its cargo capacity at ports four times to 1 billion tonnes by 2030 to emerge as the world’s largest company in this field. In this regard, the group may look at acquisition globally if it gets a good local partner in a country with economic and political stability, Karan Adani, scion of the Adani group and chief executive officer of Adani Ports & SEZ (AP&SEZ), said in an interaction on Sunday. The group, which acquired Haifa Port in Israel early this year for $1.2 billion, is looking to acquire ports in East Africa (Kenya and Tanzania), Vietnam, and some in the Mediterranean Sea.   “The port overseas must have good trade ties with India and a strong domestic economy...
Read More
Abu Dhabi-based IHC increases stake in Adani Enterprises to 5.04%
4Oct By adminNo Comments
Business

Abu Dhabi-based IHC increases stake in Adani Enterprises to 5.04%

Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it had increased its stake in Adani Enterprises (AEL) to more than 5 per cent. The move comes barely a week after the UAE-based company exited Adani Green and Adani Transmission by selling its entire holding. “This strategic increase reflects IHC’s conviction in the world leading incubation model of AEL and we believe that the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL,” IHC said in a statement. Gautam Adani’s flagship firm was “poised to uniquely capitalise on India’s robust growth journey”, IHC said, adding it continued to explore unique investment opportunities in India “with the goal to maximise stakeholders’ ret...
Read More
IHC to sell stake in Adani units as part of portfolio rebalancing strategy
29Sep By adminNo Comments
Business

IHC to sell stake in Adani units as part of portfolio rebalancing strategy

BENGALURU (Reuters) - Abu Dhabi conglomerate International Holding Company (IHC) said on Thursday it would sell its stake in India's Adani Green Energy and Adani Energy Solutions as part of its portfolio rebalancing strategy. It did not disclose the name of the buyer or the extent of the investment it was selling. Adani Green Energy and Adani Energy Solutions did not immediately reply to Reuters requests for comment. IHC said its units Green Energy Investment Holding and Green Transmission Investment Holding have signed an agreement to sell their investments in the two Adani group companies. Green Energy holds a 1.26% stake in Adani Green and Green Transmission has a 1.41% stake in Adani Energy Solutions, according to Bombay Stock Exchange data. Last year, Ad...
Read More
Adani Group receives certification for India’s largest wind turbine
13Sep By adminNo Comments
Business

Adani Group receives certification for India’s largest wind turbine

Adani Wind, the wind energy solutions division of Adani New Industries Limited (ANIL), on Wednesday announced that its 5.2 MW Wind Turbine Generator (WTG), which is India's largest, has received type certification from WindGuard GmbH. The certification enables Adani Wind to start series production for global markets. The certification under the IEC System for Certification to Standards Relating to Equipment for Use in Renewable Energy Applications (IECRE) affirms that the Adani Wind's 5.2 MW WTG meets the highest quality and safety standards and provides international recognition to this turbine. The type certification acknowledges Adani WTG's conformity with the globally recognized IEC 61400 series standards and regulations for design, testing and manufacturing. Wind...
Read More
Joint Venture: Adani forms joint venture for green hydrogen
9Sep By adminNo Comments
Business

Joint Venture: Adani forms joint venture for green hydrogen

NEW DELHI: Billionaire Gautam Adani's group on Friday said it has formed a joint venture with Japanese trading house Kowa Group for marketing of green ammonia and green hydrogen produced by the Ahmedabad-based conglomerate. "Adani Global, Singapore, a step-down wholly-owned subsidiary of (Adani Enterprises) has signed (the) JV agreement," the group flagship firm said in an exchange filing.Adani Group is investing multi-billion dollars in setting up facilities to produce green ammonia and green hydrogen from water.Adani and Kowa will hold a 50% stake each in the joint venture. The group didn't provide further details. !(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s...
Read More