A Rs 7,056 crore outer harbour project by VO Chidambaranar (VOC) Port in Tuticorin is garnering interest from domestic and global majors in the sector, such as Adani Ports and Special Economic Zone, Singapore's PSA International, Dutch major Van Oord, JM Baxi, and JSW, among others, according to sources close to the development. The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the Rs 16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's Rs 36,238 crore investment in renewable energy.
Two Adani group companies -- Adani Enterprises and Adani Transmission -- have uprooted the traditional leader Reliance Industries in annual wealth creation in 2022 so far, while the top 100 of them created a massive Rs 92.2 lakh crore of wealth, according to a report. However, Reliance Industries has smashed all records to emerge as the largest wealth creator during the five-year period ending March 2022, says the leading brokerage Motilal Oswal in its 27th annual wealth creation study. The Gautam Adani group companies have been rallying to dizzying heights in the year as the group snapped up many assets and diversified into newer areas.
'Interim Budget has ignited the entrepreneurial spirit.'
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
Funds raised by India Inc. through offshore loan syndication hit a 15-year high in 2023 with companies and banks raising $21.4 billion, the highest since 2007. The momentum is expected to continue in 2024 as well with over $4 billion fund raising expected in the first three months of this year. Companies raise funds, both onshore and offshore, depending on interest rates and activities. Funds raised offshore can be deployed in overseas activities.
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Adani Enterprises, the flagship company of the Adani group, on Monday said it had entered into a 50:50 joint venture (JV) with EdgeConnex, a leading global data centre operator, to develop and operate data centres across India. The idea behind the JV, AdaniConneX, was to leverage the two partners' complementary expertise and capabilities, it said. In addition to full-scale data centres, AdaniConneX will also develop a portfolio of Edge data centres strategically located across the country to address the need for more proximate capacity.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
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From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Queensland's Development Minister Anthony Lynham issued a statement on Sunday, saying the combined mine, rail and associated water infrastructure have all been declared "critical infrastructure" and the project's special "prescribed project" status has been renewed and expanded to include its water infrastructure.
'The competition between the two is definitely going to be of great interest to the Indian market.'
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
The National Stock Exchange (NSE) Nifty Next 50 Index could undergo large-scale changes if the proposed tweaks to its computation methodology get implemented. In a discussion paper floated recently, NSE Indices, which owns and manages a portfolio of over 350 indices under the Nifty brand, proposed that only stocks that are traded in the futures and options (F&O) segment can be part of the index. Currently, as many as 11 non-F&O stocks are part of the Nifty Next 50 Index, which, as the name suggests, represents the next rung of large and liquid securities after the Nifty50.
Adani, which already has mining and environmental licences from the state government, requires the state approvals on management plans on the endangered finch bird and groundwater in order to commence the mine construction.
The mine, designed to eventually produce 60 million tonnes a year of thermal coal used in power stations, has been the focus of opposition by green groups fighting new coal mines and the rail and ports needed to ship the coal.
The statement came a day after cricket legends Ian and Greg Chappell and few other prominent Australians urged Adani Group chairman Gautam Adani to abandon the mine project
Import curbs on Chinese panels and modules may help, but low demand and capacity remain problem areas, says Shreya Jai.
"I am proud to announce the project has Final Investment Decision (FID) approval which marks the official start of one of the largest single Infrastructure -- and job creating -- developments in Australia's recent history," Gautam Adani said.
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
90 prominent Australians warn Indian energy giant Adani that its controversial coal mine project in Queensland could damage bilateral ties and even affect sporting links.
'We are writing to respectfully ask you to abandon the Adani Group's proposal in Queensland's Galilee Basin...Pollution from burning coal was the single biggest driver of global warming, threatening life in Australia, India and all over the world'
The Tata group is planning to invest $90 billion in new industries such as mobile components plant, semiconductor, electric vehicles, batteries, renewables energy and e-commerce by 2027. The Tata group's investment in India is far higher than the $75-billion investments planned by Mukesh Ambani-owned Reliance Industries and $55-billion investment planned by the Adani group in the next five years in the country, the Economist reported recently. The investment by the Tata group is a shift in its strategy to focus more in the home markets instead of international markets where the group lost money.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
The key hurdle Adani needs to clear to secure loans for the Carmichael mine, rail and port project is dredging approval to expand its Abbot Point port.
Adani's Carmichael project has been stuck in the approvals process for the past five years.
During the debate on the 'Motion of Thanks on the President's Address', Leader of the House Piyush Goyal and Union Finance Minister Nirmala Sitharaman strongly objected to 'insinuations' against the prime minister, who was also present in the House.
For India to view the new Sri Lankan leadership only through the prism of the past or through their narrow view on China, is fraught with possibilities that should be avoided, asserts N Sathiya Moorthy.
The laggards include FMCG (16 per cent), Energy (37 per cent) and Media (34 per cent).
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
An Adani spokesperson said that it was yet another attempt by activists to delay the project.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
