Adani Enterprises News

Reliance Industries (RIL) and Adani Power have signed a 20-year power purchase agreement for 500 MW, marking a rare, strategic collaboration between conglomerates led by two of the country’s wealthiest men. The Mukesh Ambani company will invest Rs 50 crore for a 26% stake in a 600MW unit of Mahan Energen’s thermal power plant. The latter is a wholly owned subsidiary of Gautam Adani-led Adani Power. Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.

FMCG firm Adani Wilmar jumped 6.4% to Rs 370.7 in Friday's intraday trade on BSE after billionaire Gautam Adani's flagship entity Adani Enterprises on Thursday approved the demerger of the company's food FMCG business to Adani Wilmar. «It is believed that the proposed demerger will unlock the direct value of the demerged company’s shareholders into the resulting company and allow a focused strategy and specialization for sustained growth for enhanced value, which would be in the best interest of all the stakeholders and the persons connected with the aforesaid companies,» Adani Enterprises said in an exchange filing.

Adani Enterprises announced that its Dubai-based arm, Ospree International FZCO, has successfully acquired 100% stake in France-based Le Marche Duty Free SAS (LMDF) for a sum of 5,000 euros. This strategic move aims to bolster the company's presence and growth within the duty-free industry. Adani Enterprises emphasized the significance of this acquisition in a filing to the exchange, highlighting its alignment with the expansion goals of Mumbai Travel Retail Private Limited.

₹5 crore. In Category-1 having voting rights, AMG Media Networks raised its stake to 76% from 50.5%, while in Category-2 without voting rights, the stake has been increased to 99.26% from 50.5%, Adani Enterprises said in a regulatory filing.

Adani Enterprises, said, "Recent geopolitical events have reinforced the convergence of physical, informational, and cognitive tactics underpinned by intelligence, information processing capabilities, and the use of unmanned and cyber systems for dissemination of information and disinformation." "Intelligence, surveillance and reconnaissance platforms across land, air and naval borders are a key priority for Adani to serve the armed forces and place India on the global map for exports. We are proud to be able to serve the Indian Navy," he added.

Adani Enterprises, Indian billionaire Gautam Adani's flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence. The Adani group said in a statement that upon acquiring a 50.5% stake for 510,000 rupees ($6,140), it would assume full operational and management control of IANS. The news agency reported a revenue of over 118.6 million rupees in the 2022/23 financial year. Adani entered the media industry in March last year by acquiring Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. Later in December 2022, it acquired almost a 65% stake in the broadcaster NDTV.

Also Read: Not whole mid, smallcap segment expensive; bullish on power sector, says Sandeep Bagla of TRUST Mutual Fund This robust rally is attributed to several factors, including strong economic growth, impressive corporate earnings, a decline in crude oil prices, and the increasing trend of retail investing along with Foreign Portfolio Investment (FPI) inflows. The recently released GDP numbers for India on Thursday revealed a significant expansion of 7.6% in the September quarter of the current fiscal year, surpassing the expectations of analysts.

HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, ICICI Securities Shares of HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, and ICICI Securities will be in focus as the companies will announce second quarter results. DMart Avenue Supermarts reported a net profit of Rs 623 crore for the quarter ended September, which was down by over 9% year-on-year. Dalmia Bharat Dalmia Bharat has reported net profit of Rs 124 crore in the second quarter, while revenues stood at Rs 3,149 crore. Read more: Here's the trade setup for today's session Adani Enterprises Adani Enterprises said its two subsidiaries Mumbai International Airport and Navi Mumbai International Airport have received notices by the ministry of corporate affairs relating to initiation of investigation of books of accounts and other books and papers. Persistent Systems Persistent Systems has appointed Ayon Banerjee as the company’s chief strategy and growth officer with effect from October 13, 2023. Tata Motors Ahead of the IPO, parent Tata Motors will sell 9.9% stake in Tata Technologies for about Rs 1,614 crore. TPG Rise Climate will pick up about 9% stake in the transaction, which valued Tata Technologies at Rs 16,300 crore ($2 billion). Tata Steel Long Products Tata Steel Long Products has reported a net loss of Rs 136 crore in the second quarter.

Also read: Adani Group may bid in upcoming airport auctions "MIAL and NMIAL have received communications from the said Authority about the initiation of investigations of books of accounts and other books and papers in terms section 210(1) of the Companies Act, 2013," Adani Enterprises said on BSE filing. Billionaire Gautam Adani owns and operates seven airports across India.

₹153.6 crore, according to Tuesday’s volume-weighted average price of Adani Enterprises. "This strategic increase reflects IHC's conviction in the world-leading incubation model of AEL," IHC said in a statement to the Abu Dhabi stock exchange. IHC also highlighted the inherent strength of AEL's airports, data centers, green hydrogen and other businesses, and its ability to capitalize on India's robust growth journey.

Adani CBI investigation: It was reported by PTI that the CBI has concluded its investigation into allegations of irregularities in the contract awarding process for the supply of imported coal to the Andhra Pradesh Power Generation Corporation, which involved Adani Enterprises and a former chairman of the National Cooperative Consumer Federation. The central agency has filed the closure report for the 2020 case, which also included bookings for senior adviser S C Singhal and then-NCCF managing director G P Gupta, before a special CBI court, according to PTI report.

CBI has closed its case against Adani Enterprises and a former National Cooperative Consumer Federation chairman for alleged irregularities in the award of a contract for supplying imported coal to the Andhra Pradesh Power Generation Corporation, officials said. The central agency has filed before a special CBI court the closure report in the case registered in 2020 in which it had also booked the then NCCF managing director G P Gupta and senior adviser S C Singhal.

The 10 companies that saw highest buying by promoters from the open market in the last quarter, has Adani Group’s cash cow Adani Ports and Special Economic Zone at the top of the list. Promoter and promoter group entities bought Adani Ports shares worth Rs 2,807 crore in the June quarter, according to Prime Database. The purchase value has been calculated by multiplying the difference in the March and June shareholding of promoters by the average closing price of the stock during the quarter.

Adani Enterprise had said there was no major event that requires a regulatory disclosure, a day after Bloomberg News reported the flagship company of the Adani group was exploring selling its 44% stake in unit Adani Wilmar. The report, citing people familiar with the matter, had said billionaire Gautam Adani and his family may retain a minority stake following a stake sale in its $6 billion consumer staple joint venture with Wilmar International.

Adani Enterprises, the flagship firm of billionaire Gautam Adani's group, has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it has signed a pact to acquire 100 per cent of SEPL. In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore.

Dividend stocks in July 2023: Three Adani stocks are in focus today as these Adani shares are going to trade ex-dividend today. Those three dividend paying Adani share are Adani Enterprises, Adani Total Gas and Amuja Cements. These flagship Adani group companies have declared final dividend for the financial year 2022-23 and their record date for final dividend has been fixed on 7th July 2023.

Adani Green Energy Ltd will raise ₹12,300 crore by selling shares through qualified institutional placement, or QIP, or other permissible mode in accordance with the applicable laws, the renewable energy arm of the Adani Group said in a regulatory filing after its board meeting on July 6. The fundraising will likely ease concerns of billionaire Gautam Adani's port-to-power conglomerate ability to service its debt and help in instilling some confidence among investors.

Adani Enterprises said 14 February that it posted a net profit for the third quarter, improving sharply from a net loss in the year-earlier period, as earnings from all reported segments improved, led by coal trading and logistics services.