Page 2 - Adani Power

Hindenburg fallout: Adani Group decreasing exposure to Indian banks

Of all the debt the Adani Group has, over half is foreign debt in the form of overseas bonds and loans taken from foreign banks, and a fourth is from domestic banks

Orient Cement terminates MoU with Adani Power to set up unit in Maharashtra

Orient Cement entered into a MoU on September 24, 2021 with Adani Power Maharashtra Ltd (APML)

CRISIL upgrades DB Power's rating after Adani Power calls off acquisition

CRISIL also removed the company from "on watch status" and assigned "stable" outlook

Adani Power hits fourth 5% upper circuit; No respite for Adani Green

Adani Power was locked at the 5 per cent upper limit, and has rallied 21 per cent in last four days. Adani Green hit 5 per cent lower circuit, and has shed 70 per cent since the Hindenburg allegation.

India invokes emergency law to force coal-based power plants to up output

Many of India's power plants that use imported coal have not operated at full capacity recently because they have found it difficult to compete with power generated from cheap domestic coal

NSE to include Adani Wilmar, Adani Power in few indices from March 31

Leading stock exchange NSE has tweaked the constituents of its major indices with Adani Group's two companies -- Adani Wilmar and Adani Power -- all set to make their way into some of the Nifty indices from March 31, 2023. Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices. All the changes in the indices will be effective from March 31 this year, the exchange said in a late night statement on Friday. The Index Maintenance sub-committee of NSE Indices Ltd has decided to make replacement of stocks in various indices as part of its periodic review. However, the National Stock Exchange (NSE) did not make any change to its Nifty 50 index. In Nifty Next 50 index, apart from Adani Wilmar, other companies that will be included are -- ABB India, Canara Bank, Page Industries and Varun Beverages. On the other hand, Bandhan Ba

Adani Group firms end on mixed note, Adani Wilmar up 5% on weekly closing

Shares of Adani Group firms ended on a mixed note on Thursday after rallying in the morning trade amid volatile trend in the broader market. Adani Wilmar stock climbed 5 per cent, NDTV rallied 4.99 per cent, Adani Power jumped 4.97 per cent, Adani Ports advanced 1.45 per cent, Adani Enterprises ended 1 per cent higher and Ambuja Cements advanced 0.99 per cent on the BSE. However, shares of Adani Total Gas tanked 5 per cent, Adani Transmission fell 4.93 per cent, Adani Green Energy dipped 0.69 per cent and ACC declined 0.55 per cent. In the broader market, the BSE Sensex ended marginally higher by 44.42 points or 0.07 per cent at 61,319.51. Most of the Adani Group stocks had ended higher on Wednesday. Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the group despite a share rout triggered by a damning report by a US short-seller. Grou

Adani Power's Rs 7000 crore deal to buy DB Power assets falls through

Adani Power Ltd's Rs 7,017-crore deal to buy thermal power assets of DB Power has fallen after the initial pact expired. "We wish to inform that the long stop date under the memorandum of understanding dated August 18, 2022, has expired," Adani Power said in a regulatory filing on Wednesday. Earlier in August 2022, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. Queries regarding the status of the deal sent to Adani Power did not elicit any response. This assumes significance in view of allegations of fraud against Adani group by the US-based short-seller Hindenburg Research. This issue rocked Parliament also earlier this month and opposition had demanded Joint Parliamentary Committee as well as a Supreme Court monitored probe into the issue. The initial term of the MOU (memorandum of understanding) was October 31, 2022. Later the .

6 out of 10 Adani group stocks locked at 5% lower circuit in firm market

The Central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected.

Analysts cautious on mid, smallcaps; await earnings catch-up

Analysts remain cautious on mid-and-smallcap segments and suggest earnings need to catch up before the stocks start to recover

Adani Group reels after report from US based short-seller Hindenburg

NEW DELHI (Reuters) - Indian tycoon Gautam Adani's conglomerate has been pummelled by a stock rout and come under increasing scrutiny after U.S. short-seller Hindenburg Research

Founder Nate Anderson says Hindenburg has never been banned, seized

Nathan Anderson, the founder of Hindenburg Research whose damning report led to a USD 100 billion-plus rout in Adani Group shares, has said that his firm has never been banned, its bank account never seized and that it is not under any investigation. Since it published a scathing 100-plus-page report alleging that Adani pulled "the largest con in corporate history" on January 24, there have been comments on social media that Hindenburg had "three criminal inquiries" in the US and that it was banned by the Financial Industry Regulatory Authority (FINRA), its bank accounts frozen and it has been barred from publishing any report on firms listed on the New York Stock Exchange. Anderson, in a tweet, attached a news report "debunking" such "lies" and said Hindenburg was neither banned nor is under any investigation. "We are banned by FINRA (never); Had bank accounts seized (no); Can't publish on NYSE-listed co's (this isn't a thing); Are under investigation (no)," he said. Hindenburg, .

Divested entire stake in Adani group: Norway sovereign wealth fund

The world's largest stock investor says it sold its shares - worth just over $200 million - in three Adani group companies since the start of the year

Adani Power receives NCLT's approval for merger of six subsidiaries

As many as nine Adani Group firms were trading in the negative territory, while one company was trading in the green

Adani Power Q3 profit falls 96% YoY to Rs 9 cr; revenue rises 45%

Company's amalgamation with six of its operating subsidiaries receives approval from secured creditors

France's TotalEnergies puts hydrogen partnership with Adani on hold

France's TotalEnergies, one of the largest foreign investors in billionare Gautam Adani's business empire, said it has put on hold participation in Indian conglomerate's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller. While the partnership with Adani group was announced in June last year, TotalEnergies has not yet signed a contract, the French group's chief executive Patrick Pouyanne said at earnings call. As per the June 2022 announcement, TotalEnergies was to take 25 per cent equity in Adani New Industries Ltd (ANIL) - the Adani Group firm that is investing USD 50 billion over 10 years in green hydrogen ecosystem that includes an initial production capacity of 1 million tonnes before 2030. "Obviously, the hydrogen project will be put on hold until we have clarity," Pouyanne said. TotalEnergies, which has an exposure of USD 3.1 billion in Adani group, will wait for the result of an audit launched by the conglomerate

Adani Power reports 96% decline in profits, cites high coal import costs

Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago. During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU), as compared to PLF of 41 per cent and power sale volume of 10.6 BU in Q3 FY22. Operating performance for Q3 FY23 includes the performance of the 1,200 MW power plant of Mahan Energen Ltd, which was acquired in March 2022. Operating performance during the quarter under review was constrained mainly due to high prices of imported coal and insufficient domestic fuel ...

Stocks to Watch: Bharti Airtel, Hero Moto, Adani Green, Ambuja Cement, NDTV

Stocks to Watch: Airtel reported a 91.5 per cent year-on-year rise in consolidated net profit; Adani Green Energy's consolidated net profit more than doubled to Rs 103 crore in Q3

No change in PPA for the project sought by Bangladesh: Adani Power

Last week, Bangladesh news agency, UNB reported that BNPB has sought revision of PPA

Bangladesh wants revision of 2017 power purchase deal with Adani Power

Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute. According to Bangladesh's private UNB news agency, the letter of the BPDC, which is to procure the power, sought the revision as it received a request from Adani Power in relation to opening LCs in India to import the coal for the 1,600 MW plant in Godda district of Jharkhand. "In our view, the coal price they have quoted (USD400/MT) is excessive - it should be less than USD 250/MT, which is what we are paying for