Adani Enterprises Ltd News

Bihar attracts investment proposals of Rs 1.8 trn at global investors' meet

The Bihar government on Friday said it has attracted record investment proposals of nearly Rs 1.81 lakh crore across different sectors such as renewable energy, food processing and manufacturing from an array of corporates, including the Adani Group, Sun Petrochemicals, and others. At the end of the two-day global investors' summit Bihar Business Connect 2024, Industries Secretary Bandana Preyashi said the Bihar government has signed MoUs for setting up 423 units with an investment of Rs 1,80,899 crore. "We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore," she told reporters here. Sun Petrochemicals and Adani Group were among an array of industrial houses that lined up a record Rs 1.8 lakh crore investments across sectors in Bihar, more than triple of Rs 50,300 crore the state received at its maiden investor meet last year. Preyashi said Sun Petrochemicals will invest Rs 36,700 crore i

Adani Group plans Rs 20K crore super critical thermal power plant in Bihar

Billionaire Gautam Adani's conglomerate plans to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar even as it expands its cement, food processing and logistics business in the state. Speaking at the Bihar Business Connect 2024, Pranav Adani, Director, Adani Enterprises Ltd, said the ports-to-energy conglomerate is invested in three sectors in Bihar - logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore. "We are now going to invest another Rs 2,300 crore in these sectors. This investment will not only massively increase our warehousing and handling capacity and expand our presence in the EV, city gas distribution (CGD) and compressed biogas (CBG) space but will also generate an additional 27,000 direct and indirect local job opportunities," he said. The group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway Terminals, ICDs

HC upholds tender awarded to Adani Group to redevelop Dharavi slum sprawl

The Bombay High Court on Friday upheld the tender awarded to Adani Properties Private Limited by the Maharashtra government for the Dharavi slum redevelopment project in Mumbai. A division bench of Chief Justice D K Upadhyaya and Justice Amit Borkar dismissed a petition filed by UAE-based Seclink Technologies Corporation challenging the state government's decision to award the project to Adani Properties Private Ltd. The bench said the petition lacks force and effort and hence stands dismissed. The Adani Group had emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project and bagged it with its Rs 5,069-crore offer in the 2022 tender process. In the first tender issued in 2018, the petitioner company had emerged as the highest bidder with its Rs 7,200-crore offer. The government had, however, cancelled the 2018 tender and issued a fresh tender in 2022 with additional conditions. Seclink Technologies Corporation first challenged the cancellation of the 2018 te

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

Dhaka has been behind on payments to Adani Power since supply started in July 2023

Seci's Adani solar deal faces scrutiny after being approved against advice

Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had no short-term need for solar power

Adani Group shares trade firm; Power, Green Energy stocks gain up to 9%

Adani Green Energy Twenty Five, a step-down subsidiary of Adani Green, has commissioned a 250 MW solar power project at Rajasthan

Group to invest over Rs 7.5 trillion in Rajasthan, says Karan Adani

As part of its investments, it plans to set up four new cement plants to build additional capacity of 6 million tonnes per annum

Individuals, not group, will respond to US charges: Adani group CFO

Will delay dollar bond till April-June, he says

Adani saga: Govt steps aside, says matter between pvt parties and US

Foreign ministry spokesperson says India has not been consulted by America

Legal matter involving private firms and US justice dept: MEA on Adani case

Days after US prosecutors charged industrialist Gautam Adani and some others with bribery and fraud, India on Friday said it is a legal matter involving private firms and certain individuals and the US Department of Justice. Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said the Indian government was not informed about the issue in advance. "This is a legal matter involving private firms and individuals and the US Department of Justice. There are established procedures and legal avenues in such cases, which we believe would be followed," he said. Jaiswal was responding to a question on the charges slapped against Adani and others during his weekly media briefing. To a question on whether the United States has served a summons or warrant on the Adani case, he said India has not received any such request. "Any request by a foreign government for service of summons or arrest warrant is part of mutual legal assistance. Such requests are examined on merits," Jaiswal .

No negative actions so far by investors on Adani after indictment: CRISIL

Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin. On November 20, 2024, the United States Department of Justice and the US Securities and Exchange Commission (SEC) issued an indictment and a civil complaint, respectively, in the United States District Court for the Eastern District of New York, against Gautam Adani, Sagar Adani and Vneet Jaain, key functionaries of Adani Green Energy Ltd (AGEL). The charges rela

From airports to cooking oil, a look at the diverse businesses of Adani

The renewable energy arm of the ports-to-power conglomerate is Adani Green Energy, which is at the center of the US indictment. It focuses on solar, wind and hybrid power generation and has a presence

Adani Group shares rally for 2nd day; Adani Green, Total Gas zoom up to 19%

At 11:09 am; Adani Total Gas was trading 14% higher, while Adani Green and Adani Energy Solutions were locked in the 10% upper circuit, as compared to nearly 1% decline in the BSE Sensex.

Sharp decline in Adani group mcap, valuation in the last two years

The decline started months before Hindenburg report in Jan 2023

'Corrupt Solar Project': Adani embroiled in US findings of bribery scheme

US prosecutors charged Gautam Adani, his nephew Sagar Adani who is director at Adani Green, and six others in running an alleged bribery scheme

Adani group shares surged up to 6% today; here's what triggered the rally

Adani Green Energy clarified today that allegations against Gautam Adani, Sagar Adani, and senior executive Vneet Jaain under the US FCPA by the US Department of Justice are "incorrect."

Adani shares crack up to 8% on Fitch downgrade; Green, Energy at 52-wk lows

In the past one week, the market price of Adani Green Energy and Adani Energy Solutions tanked 37 per cent and 32 per cent, respectively.

Fitch puts some Adani bonds on negative watch after US SEC bribery charges

US prosecutors have charged billionaire Gautam Adani, the group's founder, his nephew Sagar Adani and six others for their alleged roles in a $265-million scheme

Andhra govt mulls next steps on Adani, if power deal can be scrapped

Andhra Pradesh's state government was digging into all the internal files from the previous administration, under which the alleged misconduct took place

GQG Partners reaffirms confidence in Adani group despite US indictment

In March 2023, GQG invested in five companies of the Adani group, including flagship Adani Enterprises, Adani Ports & SEZ, Adani Green, Adani Energy Solutions, and Ambuja Cements