Adani's Carmichael project has been stuck in the approvals process for the past five years.
Adani Group had sought 10,000 acres in the first phase and 40,000 acres in the second phase.
Strong gains in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
Australia's federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years, but analysts and project finance experts believe Adani may have underestimated the challenge of raising funds for the project.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Reports said that Adani took legal action to override the W&J people.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
The federal court in August had revoked the original approval.
Gandhi said farmers asked him during his Bharat Jodo and Bharat Jodo Nyay yatras about why they were not getting the benefit of loan waivers like billionaire industrialists or MSP (minimum support price) for farm produce.
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Approval for Adani's Carmichael coal mine was set aside last week.
The project includes a 300 kms rail line connecting Adani's planned Carmichael Coal Mine, Northwest of clermont, to the Abbot Point Coal port, near the Great Barrier Reef.
The approval was announced by Environment Minister Greg Hunt, who said "after undertaking a thorough assessment and consideration under national environment law, I have approved the Carmichael Coal Mine and Rail Infrastructure project, subject to 36 strict conditions".
Moitra said she has been found guilty of breaching a code of ethics that does not exist and that there was no evidence of cash or gift given to her.
Investors booked profits in recent gainers dragging the indices into losses
Was our economy very big when we were fighting the Britishers? asked Gandhi.
With the listing of Mundra Port and SEZ (MPSEZL) on the bourses, the worth of Adani Group chairman Gautam Adani and his brother is Rs 39,051 crore (Rs 390.51 billion).
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Adani has argued that the Carmichael mine, together with its other projects in Queensland.
The development of the coal mine located at Queensland in Australia and required infrastructure including railways would cost $7.6 billion.
An Australian environmental group has launched a legal challenge against Adani Enterprises' $7 billion Carmichael coal mine project in the Galilee Basin.
Congress leader Rahul Gandhi on Monday said his party would conduct a "caste census" if elected to power as only such an exercise would ensure the "participation of OBCs, Dalits, tribals and women".
Progress on the mine was blocked in August after a claim Adani failed to take into account the welfare of the yakka skink lizard and ornamental snake.
Adani's plan to build one of the world's biggest coal mines has been hampered time and again.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
The mine got the sign-off from Environment Minister Greg Hunt in October after the company cleared concerns about two rare outback species
The conglomerate, which has received environmental clearance for the project, plans to invest around Rs 1,500 crore in it.
NDTV founders Prannoy Roy and his wife Radhika Roy have resigned as the directors of promoter group vehicle RRPR Holding Private Limited as the Adani Group neared takeover of the television channel.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
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.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The fundamental construct of India's neighbourhood policy still needs to be what Vajpayee postulated, Manmohan Singh embraced, and Modi energised. It's just that we need to junk domestic politics and excessive religiosity, while acquiring much humility and a renewed respectfulness towards our neighbours, recommends Shekhar Gupta.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
