Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
The multi-crore Dharavi slum redevelopment project involves no land transfer to the Adani group but to the Maharashtra government's departments, and the Ahmedabad-based conglomerate, as a project developer, will build houses that will be handed over to the same departments for allotment to residents of Asia's biggest slums, sources said. Denying allegations of land grab made by MP Varsha Gaikwad, sources close to the project said land parcels are to be transferred only to Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the state government's housing department.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
Benchmark equity indices Sensex and Nifty surged more than 1 per cent on Monday, registering their fifth day of rally on the back of buying in banking and IT shares after encouraging quarterly earnings and foreign fund inflows. The 30-share BSE Sensex jumped 855.30 points or 1.09 per cent to settle above the 79,000 mark at 79,408.50.
Congress leader Rahul Gandhi on Thursday claimed that Prime Minister Narendra Modi had agreed to hold a caste census 'out of fear' of the country's deprived population, to which the opposition was lending its voice.
The political and ideological differences between the Congress and Shashi Tharoor is no longer a matter of whispers.
From the 30-share Sensex firms, Tata Motors, Bajaj Finance, Eternal, Adani Ports, Tata Steel, Titan, Mahindra & Mahindra and Power Grid were among the gainers. Asian Paints, Sun Pharma, ITC, Nestle, Reliance Industries and HCL Tech were among the laggards.
'If there is a push towards a Marxist oriented government it will be dangerous.' 'We have seen this in Nepal and Myanmar and it will be a concern for India if it is surrounded by countries with such political dispensations.'
'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!'
A plea has been filed in the Supreme Court seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. In a significant win for the Adani Group, the apex court had declined to order a CBI or SIT probe and said in its judgement that market regulator Sebi was conducting a "comprehensive investigation" into the allegations and its conduct "inspires confidence".
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
It is the first airport in the country to have multi-modal connectivity. This includes a linkage to the project via road, rail, and a metro system.
From the Sensex shares, IndusInd Bank jumped 7.12 per cent. Axis Bank, Adani Ports, Asian Paints, Bharti Airtel, State Bank of India and ITC were also among the gainers. Maruti, Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
Bajaj Finance, IndusInd Bank, State Bank of India, Maruti, Tata Motors, ITC, Tata Steel and Reliance Industries were also among the gainers. Nestle, NTPC, Kotak Mahindra Bank, Power Grid and Titan were among the laggards.
Rahul Gandhi's retort to PM Modi came after the latter attacked him at an election rally saying why he has "stopped" naming Adani and Ambani in his attacks and whether he has received money from them in return.
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
'Ever since elections have been announced, these people (Congress) have stopped abusing Ambani-Adani'
'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.'
Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said.
However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.
Buying stocks during a dip, says Amar Nandu, research analyst, Samco Securities, can lead to higher compounding returns when the uptrend begins.
Billionaire Gautam Adani-led promoter group has increased its stake in the group's flagship firm as the ports-to-energy conglomerate continues to recover from the effects of a report by US short-seller Hindenburg Research. Promoter group has increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent, according to a stock exchange filing. Promoter group firm Kempas Trade and Investment Ltd, which had a minimal stake in the firm, acquired 2.22 per cent in the open market between August 7 and August 18, it said.
"Our humble contribution to India's growth story will continue. Jai Hind," Billionaire Gautam Adani said.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
The petition claimed there were "mistakes and errors" in the judgment, and in light of certain new material that had been received by the counsel for the petitioner, there were sufficient reasons for a review of the verdict.
The fire spread to over a dozen nearby camps, causing significant damage.
A special court in Mumbai has directed the Anti-Corruption Bureau (ACB) to register a first information report (FIR) against former Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations.
'All those who participated in the agitation were branded as anti-nationals.'
Several opposition MPs on Wednesday greeted their Bharatiya Janata Party counterparts in Parliament premises with the tricolour in one hand and a red rose in the other, as they urged the ruling party to ensure that the House functions and all issues, including the Adani matter, is discussed.
Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses.
'Granting the country's highest civilian honour to Prime Minister Modi was surprising as it indicated the government was going out of its way to have India as a close partner.'
If I were to explain stealth to a layperson, I'd ask them to think of the game chupan-chupai (hide and seek) we played as children, explains Air Commodore Nitin Sathe (retd).
Hari Kumar lauded Adani's efforts in aligning their roadmap to the requirements of the Indian Navy and establishing an ecosystem of partners and capabilities to enable Aatmanirbharta in defence and security.
Adani Group on Wednesday said it will invest over Rs 12,400 crore in an array of projects including a data centre, clean energy project, and a cement plant in Telangana. The group signed four memorandums of understanding (MoUs) for the investments at the World Economic Forum in Davos in presence of Telangana Chief Minister Revanth Reddy and Adani Group chairman Gautam Adani. The conglomerate's flagship firm Adani Enterprises will invest Rs 5,000 crore in setting up a 100 MW data centre that will use green energy while its renewable energy unit Adani Green Energy Ltd will spend an equivalent amount in setting up two pump storage projects.
Thackeray wondered whether the state government was trying to favour the Adani Group at the cost of residents of Dharavi, a sprawling slum colony.
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.
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