Microsoft CEO Satya Nadella on Tuesday announced plans to invest $17.5 billion in India to help build infrastructure and sovereign capabilities for the country's AI-first future, marking the third major AI-driven investment in the country in the past two months. Microsoft said that the $17.5 billion (around Rs 1.58 lakh crore) investment builds on the $3 billion (around Rs 26,955 crore) funding announced earlier this year, which the company is on track to spend by the end of CY (calendar year) 2026.
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.
Maharashtra minister Sudhir Mungantiwar on Thursday claimed that Gautam Adani prospered during the Congress regime in Gujarat and said one cannot become the prime minister by growing a 'beard', referring to Rahul Gandhi's remarks on the industrialist in Parliament.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Parliament's Budget session has been a washout since the beginning of its second part on March 13, with the BJP demanding an apology from Gandhi.
For more than a decade, sockpuppets - some of them being company employees - created 'puffery' around tycoon Gautam Adani, his family and the apples-to-airport group he helmed by adding non-neutral material and removing warnings from information on Wikipedia, the free internet-based encyclopedia has alleged. Adani, a first-generation entrepreneur, has lost over $70 billion in net worth and slipped to 25th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman, in less than a month. This followed US short-seller Hindenburg Research accusing the group of accounting fraud, stock price manipulation and money laundering, allegations that the conglomerate has repeatedly denied, and threatened legal action.
In an interview to NDTV, Pawar came out in support of the Adani Group and criticised the narrative around Hindenburg Research's report on the conglomerate.
The Supreme Court on Thursday ordered setting up of a six-member committee headed by former apex court judge Justice A M Sapre to investigate the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets.
'All those who participated in the agitation were branded as anti-nationals.'
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
The combined market capitalisation of Adani Group companies fell by Rs 54,876 crore, to Rs 10.92 trillion, as investor sentiment turned bearish on Wednesday. Shares of Adani Transmission fell by 7.7 per cent to close at Rs 886 while those of Adani Power lost 7.1 per cent to end the day at Rs 323. The stock of Adani Enterprises, the flagship company of the group, lost 6.2 per cent to finish at Rs 2,530.
Shares of Adani group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 per cent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have holding in some of these firms.
Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently. The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22). The group's gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.
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.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said it has decided to exit its investment in Myanmar by June next year. APSEZ, the largest port developer in India, is part of the globally diversified Adani Group. "The Board has decided to actively work on a plan on exiting Company's investment in Myanmar including divestment opportunities (expected to be concluded by March - June 2022)," APSEZ said in notes to its second quarter results.
They shouted slogans against the signboard when the airport is named after Chhatrapati Shivaji Maharaj.
The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for stock markets in the wake of the recent Adani group shares crash triggered by Hindenburg Research's fraud allegations.
Capital markets regulator Sebi has kept the proposed Rs 4,500-crore initial share-sale of edible oil major Adani Wilmar Ltd (AWL) in "abeyance". However, the Securities and Exchange Board of India (Sebi) did not clarify further. The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO).
Adani Enterprises, the flagship firm of billionaire Gautam Adani's group, has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it has signed a pact to acquire 100 per cent of SEPL In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore.
The power sector presents a puzzle. A fast-growing economy should be aligned to higher power demand but that hasn't been the case in the financial year 2026 till date (FY26TD).
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
Those who worry that the Adani saga will turn the world off India are not looking at the entire picture, asserts Mihir S Sharma.
The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
'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!'
Adani Ports and JSW Infrastructure, India's leading private port operators, are expanding their logistics services to capture extra cargo while they run integrated transport services. "With incrementally less availability of lucrative port assets that can drive cargo volumes, port operators have naturally shifted their focus on deriving value in the upstream integration, i.e., the logistics space.
'Gautam Adani will not be able to step inside Dharavi.' 'We will ensure Adani will not get what he wants.' 'Adani has no reason to do politics with people of Dharavi but he is still doing it.'
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
At a time 20-odd opposition parties, many of them regional rivals, joined forces over the Adani issue, Nationalist Congress Party supremo Sharad Pawar's open support for industrialist Gautam Adani has put a question mark on the durability of a non-Bharatiya Janata Party block in the run-up to the 2024 parliamentary elections.
Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
Billionaire Gautam Adani has said the decision to withdraw a fully subscribed share sale of the flagship firm of his group was primarily because of volatility in the market. Adani Group company stocks have lost over $90 billion in value since a US short seller made damning allegations. Adani Enterprises Ltd's Rs 20,000 crore follow-on public offer managed to get investors on the last day of the share close on Tuesday.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
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.
Edible oil major Adani Wilmar Ltd (AWL) on Monday filed the draft red herring prospectus with markets regulator Sebi for an initial public offer to raise up to Rs 4,500 crore. The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry.
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a 'mega scam' as it involved public money.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
What made the tide turn in favour of the Adani group was the Covid-19 pandemic, which shut down airports the world over, including Mumbai. There was no cash flow and the firm started defaulting on salaries July onwards.
