Gautam Adanigroup News

The rally propelled the group's market capitalisation to an 11-month high of ₹13.88 lakh crore, a gain of ₹3.61 lakh crore since November 28 after the Supreme Court had reserved its judgment on pleas seeking an investigation into the allegations made by Hindenburg against the Adani Group. Oral observations by the court that the Hindenburg report need not be taken as «gospel truth» had been seen by the market as positive. Group chairman Gautam Adani saw a rise in his ranking among the world's wealthiest individuals on Monday, climbing from 20 to 16, with a net worth of $70.2 billion.

Adani Group plans to spend 7 trillion rupees ($84.00 billion) over the next decade on infrastructure projects, Chief Financial Officer Jugeshinder Singh said on Friday. «Our capex will go up to run and develop infrastructure,» Singh said, without elaborating on the type of projects the company would undertake. The port-to-power conglomerate runs India's largest private port and is also developing and managing several airports and roads. The billionaire Gautam Adani-led group will also decide on divesting its stake in Adani Wilmar, its joint venture (JV) with Singapore's Wilmar International, in the next three months, Singh said on the sidelines of the Trust group event in Mumbai. Adani Group holds a 44% stake in the JV and has been considering a potential stake sale for a few months, Bloomberg News reported earlier, adding that Gautam Adani and his family may retain a minority stake in a personal capacity. Adani Wilmar posted a second consecutive quarterly loss in November. Shares of Adani Group companies are recovering after a Jan.

₹7 trillion ($84 billion) on infrastructure over the next decade, a similar amount the Indian conglomerate owned by billionaire Gautam Adani has lost in market value since corporate fraud allegations were leveled against it by a US short-seller earlier this year. “We desire to invest more," Jugeshinder Singh, the group chief financial officer, told reporters on Friday in Mumbai, without fleshing out further details. Singh’s ambitious expenditure targets are part of Adani’s strategy to attempt to draw a line over damaging allegations made by Hindenburg Research in January, after the short-seller accused the conglomerate of engaging in years of stock price manipulation and accounting malpractice.

Congress leader Rahul Gandhi on Sunday targeted Prime Minister Narendra Modi, accusing him of working for businessman Gautam Adani «round-the-clock». Instead of 'Bharat Mata ki Jai', the prime minister should say 'Adani ji Ki Jai' because he works for him, Gandhi charged at an election rally here.

Reliance Industries Chairman and Managing Director, Mukesh Ambani, is expected to attend the upcoming Bengal Global Business Summit (BGBS), a state government official told PTI. The event will also see the attendance of prominent figures from companies such as ITC, Ambuja Neotia, and the Hiranandani Group, it added. Meanwhile, the attendance of Gautam Adani, the chairperson of Adani Group, remains uncertain, representatives from the group are slated to be in attendance.

₹5,000-crore Dharavi Redevelopment Project (DRP), has denied the allegations of favouritism over the Maharashtra government's latest notification on Transfer of Development Rights (TDR). A section of the state's opposition has accused the government of tweaking the TDR norms to allow the Adani group to maximise its profit. The company, in response to the accusation, called it a “mischievous ploy" at the “behest of certain vested interests".

Adani Group for alleged overvaluation of coal imports, according to a report published by the news agency Reuters. The Directorate of Revenue Intelligence has been attempting to obtain Singaporean authority's transaction documents pertaining to Adani's business dealings since 2016.

Karan Adani boasted that a newly inked $553 million US government financing deal toward a port terminal being developed by his family’s conglomerate was a “reaffirmation by the international community.” The announcement marked a welcome reprieve for India’s Adani Group following a damaging short-seller attack and a number of corporate fraud allegations leveled against it this year. It also signaled Washington’s endorsement for the port empire owned by Karan’s father and billionaire Gautam Adani — seen as a close ally of Prime Minister Narendra Modi — that would help curb China’s maritime influence in the Indian ocean. Those waters account for more than one-third of the world’s bulk cargo traffic and two-thirds of oil shipments. Chakri Lokapriya, chief investment officer at TCG Asset Management Co. in Mumbai, called Adani’s port ambitions a “strategic” play, assisting India to counter China’s own string of ports in its backyard, stretching from Sri Lanka to Pakistan. Now Adani Ports and Special Economic Zone Ltd., seen as the conglomerate’s crown jewel, is eyeing further “opportunities in our neighboring countries,” Karan Adani, the operator’s chief executive officer, told Bloomberg News in the Sri Lankan capital. Those include potential ventures in Bangladesh, as well as East African and Southeast Asian nations, including Tanzania and Vietnam, adding to its existing Sri Lanka and Israel developments, he said. In a world that’s “looking beyond China — it is indeed a Chinese-styled expansion by Adani,” said Sanjiv Bhasin, director at Mumbai-based IIFL Securities Ltd.

Gautam Adani, the Chairman of apples-to-airports Adani Group, spoke about the opportunity he saw in the decline of China's project to spread a global footprint. “I anticipate that China, which was seen as the foremost champion of globalization, will feel increasingly isolated.

Hindenburg's damning report on the Adani Group earlier this year led to the sudden pullout of a proposed share sale in the flagship Adani Enterprises and triggered a $150-billion wealth erosion for investors. Chairman Gautam Adani had said that the report was aimed at damaging the conglomerate's reputation and generating a profit by driving down its stock prices. The group companies have since recovered most of the losses in their share prices and the conglomerate is back to business as usual, but reverberations of the Hindenburg attack could be felt deeper and longer in different ways. One fallout of the attack by the short-seller seems to be Adani's reported plan to exit the fast-moving consumer goods (FMCG) business. The ports-to-renewable energy conglomerate is in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in Adani Wilmar Ltd, which owns the Fortune brand of edible oils and packaged grocery, executives familiar with the matter have told ET. Adani is expecting $2.5-3 billion for the stake in the joint venture with Singapore-based Wilmar International, which too owns 43.97% of the company, they said. A deal is likely to be finalised within a month, though neither of the companies has confirmed it. The product portfolio of Adani Wilmar includes brands such as Fortune, King's, Bullet, Raag, Avsar, Pilaf, Jubilee, Fryola, Alpha, Alife and Aadhar.

Economic Times. The billionaire Gautam Adani-led group holds 43.97% stake in Adani Wilmar, the company which sells a range of edible oils and food products under Fortune brand.

₹1,261.19 crore, according to NSE data. DIIs bought equities resulting in an inflow of ₹1,380.15 crore, the exchange data showed.Adani Green Energy, the renewables firm of Indian billionaire Gautam Adani, is in talks with a group of foreign lenders to borrow as much as $1.8 billion, according to people familiar with the matter.The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private.The banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc, they said.

Adani Green Energy, the renewables firm of Indian billionaire Gautam Adani, is in talks with a group of foreign lenders to borrow as much as $1.8 billion, according to people familiar with the matter. The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private.

Adani Green Energy, the renewables firm of Indian billionaire Gautam Adani, is in talks with a group of foreign lenders to borrow as much as $1.8 billion, according to people familiar with the matter. The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private. The banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc, they said. A representative of Adani Group declined to comment. The transaction hasn’t been finished and the terms could still change.

₹2,042 crore during the fiscal year 2022-23, as per EdelGive Hurun India Philanthropy List 2023. The report notes that Shiv Nadar donated an average of ₹5.6 crore per day. The list includes the names of 119 Indians including Wipro's Azim Premji, Zerodha co-founder Nikhil Kamath, etc.

₹ ₹227.82 crore, hurt by weak performance in its key coal trading division. Revenue during the period stood at ₹22,517.3 crore, down 41% from ₹38,175.23 crore a year ago, according to a regulatory filing. Consolidated Ebitda (earnings before interest, taxes, depreciation, and amortization) rose 39% to ₹2,979 crore on account of strong incubating businesses.

MUMBAI : The Adani Group has invested close to $1 billion in Navi Mumbai International Airport Ltd, in a bid to start operations by December next year, two people with direct knowledge of the development said. Of the ₹8,625 crore (approximately $991 million) invested in the Navi Mumbai airport so far, Adani has made an equity infusion of ₹1,710 crore. It has also raised ₹2,900 crore in term loans from a consortium of banks, while an additional ₹3,655 crore equity came from the City and Industrial Development Corporation of Maharashtra Ltd (Cidco), a city planning agency in Maharashtra, these people said.

ALSO READ: Mahua Moitra ‘Took Cash & Gifts For Asking Questions', Alleges BJP’s Nishikant Dubey “These allegations include that she committed a criminal breach of trust, violated parliamentary ethics, and acted in a manner that was detrimental to India's national security," Dubey wrote. He contended that 50 of 61 questions she asked in Lok Sabha till recently were focused on the Adani Group.

₹19,133.7 crore. A farmer's son and a college dropout, KP Ramasamy achieved success by establishing one of India's largest garment export enterprises. Founded in 1984, KPR Mill's business by was expanded Ramasamy in 2013 and diversified into sugar production.

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.

Mukesh Ambani has reclaimed the first position on the 2023 Forbes list of India’s 100 Richest with a net worth of $92 billion. He transformed Reliance Industries into a diversified conglomerate and cemented his succession plan by appointing three children to the company's board. Once again, Mukesh Ambani surpassed Adani Group Chairman Gautam Adani who slipped to the second position and experienced a staggering decrease in weather following the Hindenburg report.