Adani Energy Solutions on Monday posted a 28 per cent decline in consolidated net profit to Rs 557.10 crore for the September quarter, mainly due to one-time adjustment of deferred tax of Rs 314 crore in the year-ago period. Adani Energy Solutions Ltd (AESL) had reported a net profit of Rs 773 crore in the July-September quarter of the last fiscal.
Trading pattern in the stock market this week will largely depend on the ongoing Q3 earnings announcement from corporates, global trends, and foreign fund movement, analysts said. Moreover, geopolitical developments and any update on trade negotiations would also be keenly tracked by investors, experts noted.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
Among Sensex firms, HCL Tech, ICICI Bank, Titan, Trent, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank were the major laggards. However, Adani Ports, Bharti Airtel, SBI, NTPC and Sun Pharma were among the gainers.
The Adani Group reported its highest-ever trailing twelve-month EBITDA of Rs 90,572 crore, driven by strong performance in its core infrastructure and clean energy businesses, along with contributions from its emerging airports segment, the conglomerate said on Thursday. The group reported an earnings before interest, taxes, depreciation and amortization (EBITDA) of Rs 90,572 crore for the period from July 2024 to June 2025, up from Rs 85,502 crore pre-tax profit in the trailing twelve months ending June 2024, it said in a statement.
Industrialist Gautam Adani-led Adani Group is looking to invest around $60 billion up to FY32 in power sector, especially in renewables, generation and transmission/distribution. In an investor presentation, Adani Power said the group plans $21 billion investment by FY30 to scale up renewable energy capacity to 50 GW from 14.2 GW as of FY25.
Ports-to-energy conglomerate Adani Group saw a 29 per cent rise in tax outgo across portfolio companies to nearly Rs 75,000 crore, it said on Thursday. This includes both direct and indirect taxes paid, as well as payments towards employee social security.
Adani Group's portfolio companies posted their highest-ever pre-tax profit (EBITDA) of about Rs 90,000 crore in the fiscal year ended March 31 and had a cash balance to cover 21 months of debt servicing, the ports-to-energy conglomerate said on Thursday. The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) has more than tripled in six years - from Rs 24,870 crore in 2018-19 to Rs 89,806 crore in 2024-25 (April 2024 to March 2025).
The Adani Group plans to invest a record $15-20 billion across businesses over the next five years to chart out the next phase of growth, chairman Gautam Adani said on Tuesday as he touted the conglomerate's strong balance sheet and robust business to shrug off relentless scrutiny it faces. Record earnings from the businesses ranging from seaports to airports, renewable energy parks to data centres, cement to gas and electricity has built India's largest infrastructure group that not only exists just to serve the markets but to serve the nation's destiny, he said.
The Adani group has said it will have a capital expenditure of Rs 1.1 trillion in 2025-26 as against this financial year's Rs 92,000 crore, with a focus on core energy and infrastructure. Expenditure will be financed through an internal cash generation of Rs 60,000 crore, and the rest will be raised via equity and debt, according to senior officials.
US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd.
Adani group stocks rallied on Thursday morning after Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down. Shares of Adani Power surged 9.21 per cent, Adani Green Energy soared 8.86 per cent, Adani Enterprises climbed 7.72 per cent, Adani Total Gas jumped 7.10 per cent, NDTV rallied 7 per cent and Adani Energy Solutions advanced 6.63 per cent on the BSE.
From the 30-share Sensex pack, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers. Power Grid, Nestle, State Bank of India and Infosys were the laggards.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
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's group on Saturday clarified on reports of Kenya cancelling more than $2.5 billion in deals after US indictment on bribery charges, saying it had not entered into any binding agreement to operate Kenya's main airport. On the pact it had signed last month to build and operate key electricity transmission lines in Kenya for 30 years, the group said the project did not fall within the ambit of Sebi's disclosure regulations, thereby not warranting any disclosure on its cancellation.
From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.
State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among the major laggards. In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.
Net flows from domestic institutional investors crossed Rs 5 trillion for the first time during a calendar year.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion in a first major deal since the US bribery indictment. In a statement, Adani Enterprises Ltd -- which held 43.94 per cent stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd -- said it will sell 31.06 per cent stake to Wilmar International. About 13 per cent will be sold in the open market to meet minimum public shareholding requirements.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate's CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani's indictment on bribery charges in the US. In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets counsel approvals.
Anil Ambani's Reliance Infrastructure Ltd has slashed its standalone debt by 87 per cent to Rs 475 crore after it cleared outstanding dues of Life Insurance Corporation of India, ICICI Bank and other lenders, the firm said on Wednesday. In stock exchange filings and press statements, Reliance Infrastructure said its standalone external debt has reduced from Rs 3,831 crore to Rs 475 crore. "Consequently, the net worth of the company will stand at Rs 9,041 crore."
From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards. Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.
Ratings agency Moody's said on Tuesday that it has cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable', citing the US indictment of chairman Gautam Adani and others on alleged bribery charges, while Fitch Ratings put some bonds of the conglomerate on negative watch. Moody's affirmed the ratings on all seven entities -- Adani Ports and Special Economic Zone Ltd, two limited restricted groups of Adani Green Energy Ltd, Adani Transmission Step-One Ltd, Adani Transportation Restricted group 1 (AESL RG1), Adani Electricity Mumbai Ltd and Adani International Container Terminal Pvt Ltd.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
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.
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.
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.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
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.
Seven out of the 10 listed firms of Adani group have received show cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions and non-compliance with listing regulations, the companies said in their regulatory filings to the stock exchanges. While group's flagship Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL) and city gas distributor Adani Total Gas Ltd said Sebi sent notices of their parent or holding company controlled by conglomerate's chairman Gautam Adani, ports company Adani Ports & Special Economic Zone, Adani Power, electricity transmission firm Adani Energy Solutions, and commodities firm Adani Wilmar said they have received Sebi notices.
'Interim Budget has ignited the entrepreneurial spirit.'
The combined market capitalisation of Adani group companies increased to Rs 15.11 trillion last week. As a result, Gautam Adani's family raced ahead of Mukesh Ambani of Reliance Industries, reclaiming the title of India's wealthiest promoter.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
The OCCRP report alleges that at one point, EIFF and EMRF held free-floating shares ranging from 8 per cent to nearly 14 per cent in the four Adani Group companies.
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