The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
While fundamentals have improved, run-up in shares has been sharp and valuations do factor in near-term upsides.
These include Adani Enterprises, BEML, TVS Motor, KEC International, Sintex Industries, Ceat and Suzlon Energy.
TotalEnergies will acquire 25 per cent shareholding in Adani New Industries Ltd -- the firm that houses Adani Group's new energy business -- for an undisclosed amount, the two firms said in separate statements. "TotalEnergies has entered into an agreement with (Adani Group's flagship) Adani Enterprises Limited (AEL) to acquire a 25 per cent interest in ANIL," the French energy giant said.
The company described the move as an 'important milestone'.
A joint venture of Adani Group and Welspun Enterprises Ltd has discovered natural gas reserves in an area off the Mumbai coast, the two firms said in a statement Monday. The first-ever gas discovery was made in the NELP-VII block MB-OSN-2005/2, Adani Welspun Exploration Ltd (AWEL) said. Spread across 714.6 square kilometers, the block is located in the prolific gas-prone Tapti-Daman sector of the Mumbai Offshore basin where production is already underway by other operators.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
Adani group has interests in a wide range of businesses - trading, coal mining, realty, shipping, city gas distribution, power generation, edible oil refining, grain storage, food processing.
Adani group on Tuesday said it has taken over the management of Mumbai International airport from the GVK group. The group last August had announced that it would acquire GVK Group's stake in Mumbai airport. Adani group will have 74 per cent stake in Mumbai's Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
Flipkart on Monday said it has entered into a commercial partnership with the Adani group to strengthen logistics and data centre capabilities of the Walmart-owned company and create about 2,500 direct jobs.
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'.
Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid to buy a new franchise. It is learnt that top corporate houses like Sahara Group, Videocon Enterprises, ICICI are among the other bidders, while guardians of the law of the game Marylebone Cricket Club (MCC) are also in the running for the Pune franchise.
It plans to invest $6.9 billion in Australia.
Billionaire Gautam Adani-led Adani Enterprises on Monday entered into a pact with Australia's Linc Energy to buy the latter's coal assets for 500 million Australian dollars (about Rs 2,100 crore).
Adani Enterprises plans to invest a total of $25 billion in the next five years.
They shouted slogans against the signboard when the airport is named after Chhatrapati Shivaji Maharaj.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
Adani group will demerge all ports, power assets into two 2 listed firms.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
The LDF government -- which has negotiated a series of crises in the form of natural disasters to the Covid pandemic -- cannot turn a blind eye to the accumulated debt of the state that now exceeds Rs 3 trillion and the need for more jobs, investment and industry.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The company has battled opposition from green groups since starting work on the project five years ago
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
'The urge to name the upcoming Navi Mumbai airport after well-known personalities and the equally strong urge to rally in large numbers supporting this name and that; all of this amidst COVID-19, felt deplorable,' asserts Shyam G Menon.
The mine got the sign-off from Environment Minister Greg Hunt in October after the company cleared concerns about two rare outback species
India Inc very keen to do business in Gujarat.
