Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
According to the agreement between the government and the company, the Rs 7525 crore project is scheduled to be completed by December 4, 2019.
Shares of Life Insurance Corporation (LIC) of India hit fresh record lows amid sustained decline in Adani Group stocks. Its stock finished at Rs 567.8, down 2.9 per cent over its previous close. The state-owned insurer's market value is now down Rs 2.4 trillion, or 40 per cent, compared to initial public offering levels.
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
It plans to invest $6.9 billion in Australia.
The Queensland Government has declared the rail corridor as a Strategic Development Area, the statement said.
In this round, the market has won. But it is still for Gautam Adani to decide whether he has lost or not, argues Shekhar Gupta.
Court documents show that the Kerala government, whose case was treated as the 'lead case' among all the petitions filed against Adani, made four allegations to convince the court to cancel the contract for the Thiruvanathapuram airport. The state's legal team couldn't substantiate most of these allegations with documentary proof and its self-defeating arguments in court failed to convince the judges to cancel the contract given to Adani. The battle for the Thiruvananthapuram airport between the Communist-led Kerala government, the Adani group and the Modi government over the past year hasn't had a dull moment since the proceedings began. Claims of a smoking gun turned out to be a damp squib, says Sai Manish.
The final and last approval for the Adani group's long-delayed billion dollar mega coal mine project came weeks after a surprise election win of Australia's pro-coal ruling coalition led by Prime Minister Scott Morrison.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
The aborigines alleged that Adani was misleading the public.
Representatives of Citizen and Society Development Welfare, who have given the slogan of Dharavi Banao Andolan, met Srinivas and submitted a memorandum seeking expedition of the survey being conducted in Dharavi.
'Only if the Budget springs some surprises we may see a halt in the selling.'
Striking another major deal in less than four months, Adani Power on Mondayentered into a binding agreement with Gautam Thapar-led Avantha Group to buy out its 600 MW Korba West unit for more than Rs 4,200 crore.
From CEOs to RBI governors, cricket's rich imagery and strategy resonate deeply with leadership, uncertainty, and decision-making across industries and global diplomacy, points out Suveen Sinha.
The Ethics Committee of Lok Sabha is also looking into the allegations against her.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
The group will be in a better position to now scale up most of its segments irrespective of government policy, but the bad news others add is its growing debt.
The massive coal mine in Queensland state has been a controversial topic, with the project expected to produce 2.3 billion tonnes of low-quality coal.
Stake sales by promoters and private equity/venture capital (PE/VC) investors this year are already exceeding twice those of last year. So far this calendar year, the selling stands at over Rs 87,400 crore, 2.2 times the Rs 39,700 crore worth of shares sold by promoters and PE/VCs in 2022. This year's tally has received a boost from stake sales by Adani group promoters.
Over 87 per cent of active large-cap schemes failed to outperform the benchmark S&P BSE 100 (total return) in the 2022 calendar year (CY), significantly higher than the 2021 figure of 50 per cent, shows a report by S&P Dow Jones Indices. During the three-year period (CY 2020, '21, '22), the percentage of schemes underperforming the index was even higher at 97 per cent. While active large-cap schemes generally find it tough to outperform due to a rising efficiency in the market, 2022 proved to be even more challenging as mid-cap and small-cap stocks (where they have some allocation) performed poorly vis-a-vis the large-caps.
The $16.5 billion Carmichael coal mine project when completed would be one of the world's largest.
'Interim Budget has ignited the entrepreneurial spirit.'
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Issue in two months for Australian projects; group to invest another $15 billion in infrastructure projects by 2020.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
Following the Wharton controversy, the Adani Group also withdrew its Platinum Sponsorship for the event. The move is being viewed as a gesture of loyalty to Modi.
While fundamentals have improved, run-up in shares has been sharp and valuations do factor in near-term upsides.
Adani, Rajasthan govt will set up solar power project of 5000 MW on its own in the next five years.
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
Moitra, who was expelled from the Lok Sabha in December for "unethical conduct", has been renominated by her party from West Bengal's Krishnanagar seat in the upcoming Lok Sabha polls.
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
Adani Enterprises has 14 resolutions to pass, Adani Ports & SEZ has 13, Adani Power 12.
Business conglomerate Adani Group on Monday announced investment plans of up to Rs 1,000 crore (Rs 10 billion) in Himachal Pradesh through its new venture in fruit and vegetable marketing.
The Adani group had applied for the Northern Australia Infrastructure Facility loan for building the 388-km rail line to connect the Carmichael coal mine to the sea port.
It announced a Rs 4,400-crore (Rs 44-billion) acquisition of the Dhamra port the day election results gave Prime Minister Narendra Modi a superlative win.
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