Adani Group is exploring legal options after being slapped with a Rs 5,500-crore tax notice, allegedly for overvaluing imported equipment, by the Mumbai wing of the Directorate of Revenue Intelligence.
The project has been delayed by three years, after a consortium of Port of Singapore and ABG Ports, which had won the bid by offering to share more than 50 per cent of the revenue with JNPT, backed off from the project, citing several reasons.
A total of 20 such train sets of Hyundai Rotem will be manufactured in South Korea's Changwan.
The company had sold 50 units of SX4 sedan in August 2014.
The success story of Adani's Mundra Port in Gujarat, in terms of efficiency, technology and management, should be replicated at Vizhinjam to ensure that this ambitious project does not fail, say Shehzad Poonawalla and Riya Sinha.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
Street believes premium valuations justified, as port traffic is expected to grow at a CAGR of 16% over FY14-16.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
Sale at acquisition price may have been prompted by slow coal traffic and fall in prices.
Gandhi said for the first time he has seen that all sections of the society in the state were 'protesting', whether it was the Patidars, Dalits, anganwadi workers or farmers.
Gujarat, the home state of Prime Minister Narendra Modi and portrayed as 'growth engine' of India has witnessed a steep fall in new investments for the second quarter of 2014-15 compared to the first quarter of the same fiscal.
Colombo can handle more container traffic than all of India's ports put together. For a country with a long maritime tradition, this is a pathetic state of affairs, saya T N Ninan.
The good news for the group has come from the port business.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
By refusing permission for the proposed ship-breaking facility, India can send a categorical message to the foreign ship owning countries that they should keep their own waste and recycle
Adani's $15-billion Carmichael coal mine is stuck since 2010.
Adani Enterprises plans to invest a total of $25 billion in the next five years.
HPCL is now ready to increase the stake of the state government up to 49 per cent.
'Today, environment has become an issue of political debate. It has become a media issue. I think that is a good development.'
With facts and figures, the CAG report has highlighted how Gujarat was far from a role model for states across India, and that the progress made in this province in western India in improving agriculture, education, healthcare and empowerment of women and children, was not exactly creditable, says Paranjoy Guha Thakurta.
The public-private partnership model is a compulsion, says the minister.
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