Adani group will demerge all ports, power assets into two 2 listed firms.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
The LDF government -- which has negotiated a series of crises in the form of natural disasters to the Covid pandemic -- cannot turn a blind eye to the accumulated debt of the state that now exceeds Rs 3 trillion and the need for more jobs, investment and industry.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
'The urge to name the upcoming Navi Mumbai airport after well-known personalities and the equally strong urge to rally in large numbers supporting this name and that; all of this amidst COVID-19, felt deplorable,' asserts Shyam G Menon.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The company has battled opposition from green groups since starting work on the project five years ago
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
The mine got the sign-off from Environment Minister Greg Hunt in October after the company cleared concerns about two rare outback species
India Inc very keen to do business in Gujarat.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Adani Enterprises has 14 resolutions to pass, Adani Ports & SEZ has 13, Adani Power 12.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
Maruti Suzuki fell 0.7% even after its March quarter profit grew by 15.8% to Rs 1,709 crore in Q4
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
The mine, designed to eventually produce 60 million tonnes a year of thermal coal used in power stations, has been the focus of opposition by green groups fighting new coal mines and the rail and ports needed to ship the coal.
The federal court in August had revoked the original approval.
However, Adani Australia has clarified on its Facebook page on Monday that in terms of quality of the coal it is almost 50 per cent better than that used domestically.
Adani, which estimates its project will generate more than A$22 billion ($15.6 billion) in taxes and royalties, has yet to line up funding but is sticking to a late 2017 start date.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Congress on Thursday questioned the decision of State Bank of India to give $1 billion loan to Adani group for the development of Carmichael coal mine during Prime Minister Narendra Modi's just concluded visit to Australia.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Adani, GVK win Australian state backing to expand coal port.
An Australian environmental group has launched a legal challenge against Adani Enterprises' $7 billion Carmichael coal mine project in the Galilee Basin.
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.
Adani has blamed opposition to its mine for delays in moving the $7 billion project to the construction phase
Reliance Industries leads the pack of 56 Indian companies.
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.
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