Page 42 - Adani Group

Adani Defence and Aerospace to acquire Air Works for Rs 400 cr

Air works is the oldest MRO in India with presence across 27 cities, 6 maintenance bays and 900-plus maintenance experts

Several Indian corporate houses set to become carbon neutral by 2050

Companies including Mahindra & Mahindra, Aditya Birla Group, JSW Group, Adani Transmission, Vedanta, and Dalmia Cement have set decarbonisation goals to achieve carbon neutrality by 2050

Adani aviation plan: A top airline may be shifted to Navi Mumbai airport

The commercial area at Mumbai airport is proposed to be increased from 28,000 square metres to 47,000 square metres

Adani Agri gets contract from FCI to build 4 silos complexes in UP, Bihar

Adani Agri Logistics Ltd on Friday said it has got contract from state-owned FCI to build four silo complexes in Uttar Pradesh and Bihar. Adani Agri Logistics Ltd, a wholly-owned subsidiary of Adani Logistics Ltd, has received a Letter of Award (LoA) from the Food Corporation of India (FCI), following competitive bidding, to build silo complexes at various locations across the country. Adani Agri Logistics will develop and operate state-of-the-art silo complexes at four locations -- Kanpur, Gonda and Sandila in Uttar Pradesh and Katihar in Bihar, creating a total silo storage capacity of 3.5 lakh tonnes. Silo complexes, which are mechanised and automated units equipped with temperature and humidity controls, are built to handle, store and preserve food grains. The handling process, from procurement to transportation, is in bulk form catered through containerised movement. The silo complexes will benefit farmers across the states of Uttar Pradesh and Bihar. "Currently, farmers ar

S&P Global withdraws rating of Adani Transmission at firm's request

S&P Global Ratings withdrew its rating for Adani Transmission Ltd., ending an assessment of barely investment grade at the company's request

An Adani Group company likely to be rated higher than sovereign: Report

An Adani Group firm is likely to be soon rated above India's sovereign rating as the ports-to-energy conglomerate helmed by Gautam Adani, Asia's richest man, sees rapid growth in business and lower debt. Adani Group CFO Jugeshinder (Robbie) Singh told a select group of investors on October 10 in New Delhi that an announcement will soon be made of one of the group firms becoming the first Indian firm with all its business in the country, to be rated higher than the sovereign, according to two persons present at the meeting. Singh, however, did not name the company. Global credit rating agencies such as S&P and Fitch have assigned the lowest investment grade rating of 'BBB-' to India. Most companies including public sector giants are rated at par or below the sovereign rating. In June last year, Fitch Ratings upgraded rival billionaire Mukesh Ambani's Reliance Industries Ltd to a notch above India's sovereign rating citing an improving debt profile. But Reliance, some may argue, ha

Top Headlines: Starlink services in India, partial treatment to EV makers

Start-ups manufacturing electric two- and three-wheelers have alleged they are not getting subsidies under the second phase of the FAME II scheme

Sale of cement units to Adani group a relief for Jaiprakash lenders

Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group

Google takes on lease 464,000 sq ft space at Adani data centre in Noida

Adani Enterprises has given on lease 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google, for Rs 11 crore monthly rent, according to documents accessed by CRE Matrix. The documents, accessed by the data analytics firm, showed that D C Development Noida Ltd, which is part of Adani Enterprises Ltd, has leased 4,64,460 square feet of space at Adani data centre in Sector-62, Noida for a period of 10 years. The rental is Rs 235 per square feet per month. The starting annual rent is Rs 130.89 crore and there will be 1 per cent increase in the rental every year. The lease agreement was signed last month, the documents showed. Email queries sent to Adani Group's flagship firm Adani Enterprises and Google remained unanswered. In February 2021, Adani Enterprises had formed an equal joint venture with leading global data centre operator EdgeConneX to develop and operate data centres throughout India. To start with, the JV had announced building

With norms under review, Adani group's Sensex dream may have to wait

BSE has proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index

Adani to buy Jaypee cement units; JSW buys India Cements' MP unit

Adani aims to become India's top cement company by 2030; rival Ultratech stepping up capacity

JP Associates up 13% on nod to divest cement biz; zooms 72% from June low

To give thrust to the ongoing efforts of the Company to reduce its debt, the board of directors has decided to divest Company's significant Cement business

Adani Group may buy debt-laden Jaiprakash's cement unit for $606 mn: Report

The acquisition will be made by one of the cement units recently acquired by Asia's richest person, the people said, adding an announcement was expected as early as this week

Adani group eyeing to raise $10 billion for renewables, cement arms

Small investors may look at gaining small stakes in the Adani group. However, bigger firms may soon launch joint ventures with the group in the coming days

Ambuja gets shareholders' nod for raising Rs 20K-cr from Adani group firm

Ambuja Cements Ltd on Saturday said it has received shareholders' approval for all proposals in its EGM, including a resolution to raise Rs 20,000 crore from an Adani group firm and appointment of Gautam Adani and others on the board of the company. The Extraordinary General Meeting (EGM) has passed the special resolution proposing to raise Rs 20,000 crore by issuing securities on a preferential basis to Harmonia Trade and Investment Ltd, an Adani group entity, with 91.37 per cent votes, Ambuja Cements said in a regulatory update. Resolutions to appoint Adani Group Chairman Gautam Adani, his son Karan Adani and two directors and four independent directors on the board of Ambuja Cements were also approved by the shareholders. The proposal for the appointment of Gautam Adani was approved with 96.51 per cent of the valid votes cast in favour, while the appointment of Karan Adani received 99.96 per cent votes, as per the scrutiniser's report on the voting results. The shareholder also

IiAS to Ambuja investors: Vote against Rs 20K-cr fundraise from Adani firm

Institutional investor advisory firm IiAS has recommended the shareholders of Ambuja Cements to vote against the proposal to raise Rs 20,000 crore from the Adani family firm by issuing warrants during the company's extraordinary general meeting. Besides, it has also advised shareholders to vote against the appointment of Ameet Desai and Purvi Sheth as independent directors of the company. Ambuja Cements, which also owns 50.05 per cent in ACC Ltd, has called an Extra Ordinary General Meeting (EGM) of the shareholders on Saturday. It has sought shareholders' approval on 12 resolutions, which include preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd, an Adani group entity, totalling Rs 20,001 crore in one or more tranches. The company has also sought approvals for the appointment of Adani Group chairman Gautam Adani, his son Karan Adani and two directors and four independent directors on the board. In its voting advisory,

Adani announces Rs 65,000 cr investment in Rajasthan over next 5-7 yrs

Richest Asian Gautam Adani on Friday announced a Rs 65,000 crore investment in Rajasthan over the next 5 to 7 years in setting up a mega 10,000 MW solar power capacity, expanding cement plant and upgrading Jaipur airport. The investment by ports-to-energy conglomerate that Adani heads also spans city gas infrastructure for retailing CNG to automobiles and piped gas to households and industries as well as laying transmission lines to carry renewable power. Speaking at the Invest Rajasthan 2022 Summit here, he said the Adani group already has a sizeable presence in the state. It operates a thermal power plant, has set up a solar park and supplies coal to the state's power-generating units. Adani Group is investing Rs 50,000 crore to add 10,000 megawatts of renewable power generation capacity. "This will be commissioned progressively over the next 5 years," he said, adding the group just a week back achieved commercial operation of the world's largest wind-solar hybrid power plant in

Power Mech up 4% in a weak mkt; soars 54% in 1-mnth on strong order book

In the past three months, the stock soared 133 per cent, as against 7 per cent rise in the Sensex.

Adani Enterprises announces establishment of two new subsidiaries

While Adani Disruptive Ventures aims to partner with businesses looking to create solutions through disruptive technology, Alwar Alluvial Resources will be engaged in minerals processing

Adani Group's stock surge at risk of reversal, technical indicator shows

The stock rallies of Gautam Adani's companies, which expanded his fortune at a pace that outran all other billionaires globally, is set for a reversal, according to a technical indicator