Adani Enterprises

Cong raises conflict of interest allegations against Sebi chief in LS

The Congress on Monday levelled conflict of interest allegations against the SEBI chairperson Madhabi Buch and claimed that Finance Minister Nirmala Sitharaman's "failure" to act decisively on it has not only tarnished the credibility of the government but also jeopardised the financial governance framework. Attacking the government over the Adani issue during the discussion on the supplementary demands for grants in Lok Sabha, Congress MP K C Venugopal said a joint parliamentary committee must probe the entire matter. He alleged it is a government "by Adani, of Adani, for Adani". Venugopal said between 2017-2024, Buch allegedly received over Rs 16.4 crore from ICICI bank while serving as a Securities and Exchange Board of India (SEBI) official regulating that bank. "This was five times her salary from SEBI, presenting a blatant conflict of interest," he said. She received rental income from entities linked to a firm under SEBI investigation, said Venugopal, who also heads the Pu

Stock Market Rally Highlights: Sensex soars 1,960 pts, Nifty ends above 23,900; SBI, TCS jump 4%

Stock Market Highlights: Benchmark Indian equity indices, the BSE Sensex and NSE Nifty50, settled higher by over 2 per cent each on Friday.

Charges against Adani could lead to warrants, extradition bid: US attorney

With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years. Adani Group, however, denied the charges saying the allegations by US prosecutors are "baseless" and the conglomerate is "compliant with all laws". US Attorney Breon Peace has the right to get arrest warrants issued against Adani and seven others indicted and serve them on the nations where they reside, Indian-American attorney Ravi Batra told PTI on Thursday. He further sa

Gautam Adani US indictment: Adani Group stocks extend fall by another 11%

In two days, the stock price of Adani Enterprises and Green Energy have tanked by 28%, Adani Energy slipped 27%, while Ports, Power, Total Gas, Wilmar and Ambuja Cements are down between 14% and 18%

Adani Energy Solutions to acquire 100% stake in Pune- III Transmission

Adani Energy Solutions Ltd (AESL) on Wednesday said it has signed a pact with PFC Consulting Ltd for acquisition of a project special purpose vehicle - Pune- III Transmission Ltd. The Pune- III Transmission Limited (PTL) projects include the establishment of new 2x1500 MVA, 765/400 kV and 3x500 MVA, 400/220 kV Pune-III substations and setting up of 816 ckm transmission line, according to a regulatory filing. AESL has "executed a Share Purchase Agreement (SPA) with PFC Consulting Limited for acquiring 100 per cent equity shares of Pune- III Transmission Limited," the filing said. Under this pact, PTL will aim to implement evacuation of 7 GW of renewable energy from Khavda RE Park (Gujarat), under the Phase IV Part D package. The acquisition is proposed to further AESL's strategy of enhancing value for its shareholders through organic and inorganic opportunities. On acquisition cost, AESL said the equity shares will be acquired at a face value of Rs 10 each.

Adani Enterprises share price gains 5% on strong September quarter results

The management said record-breaking performance has been led by ANIL and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilization.

Adani Enterprises Q2FY25 results: Profit zooms 664% to Rs 1,742 cr

Expenses grew by eight per cent to Rs 20,787.29 crore from a year ago, with finance costs dipping 32 per cent to Rs 909.83 crore from a year ago

Adani Enterprises Q2 results: Net profit increases to Rs 1,742 cr

The ports-to-power Adani Group's flagship firm has been expanding its new energy business, which includes solar manufacturing and wind turbine businesses

Adani Enterprises share price hits over 4-month low; down 9% in 1 week

Shares of Adani Enterprises were down 3% to Rs 2,837.70 in Tuesday's intra-day trade, falling below its QIP issue price of Rs 2,962 per share

Adani Enterprises raises $500 mn in primary equity to fund growth plans

Adani Enterprises Limited (AEL), the flagship firm of the conglomerate helmed by Gautam Adani, on Thursday said it has raised Rs 4,200 crore in share sale to large investors via a qualified institutional placement (QIP) issue to fund its future growth plans. The firm allocated 1.41 crore equity shares to qualified institutional buyers at an issue price of Rs 2,962 per equity share, it said in a statement. "The transaction was launched post-market hours on October 9, 2024 with a deal size of approximately Rs 4,200 crore (USD 500 million) and closed on October 15, 2024," it said. The QIP saw overwhelming demand, receiving bids of approximately 4.2x of the deal size from a diverse group of investors, including global long-only investors, major Indian mutual funds and insurance companies. A QIP is, at its core, a way for listed companies to raise capital without having to submit legal paperwork to market regulators. Adani Enterprises had in January last year planned to raise Rs 20,000

L&T's first electrolyser factory to start commercial operations soon

L&T is developing these electrolysers in partnership with French company McPhy and has set up this factory at its Hazira facility

Adani Enterprises QIP: Quant MF secures nearly half of all the shares

Quant Mutual Fund has emerged as a standout performer, dominating the equity scheme performance charts in recent years, with its high-conviction bets paying off

Quant MF largest investor in Adani Enterprises' QIP, buys 47% of shares

Quant Mutual Fund has emerged as the largest investor in Adani Enterprises' recent Qualified Institutions Placement (QIP), which raised Rs 4,200 crore. They acquired nearly 47% of total shares off

Stocks To Watch: Wipro, HAL, Dmart, Ola Electric, GIC Re, Oberoi Realty

Stock Market Today: Adani Enterprises has successfully raised $500 million through a share sale, marking its return to the equity markets after a previous cancellation.

Adani Enterprises declines 3% after launching Rs 16,000-crore QIP issue

The company's board had approved a total fundraising of Rs 16,600 crore by the way of QIP or other modes in one or more tranches, on May 23, 2024.

Adani Enterprises announces QIP at Rs 3,111 per share floor price

The company added that it may, at its discretion, offer a discount of not more than 5 per cent on the floor price

Stocks To Watch: SBI, Mankind, Adani Enterprises, Dr. Reddy's, Zydus Life

Stocks to watch: SBI plans to open 600 new branches this fiscal year to expand its reach in emerging residential areas, said its chairman and managing director CS Setty.

Stocks To Watch: SBI, Vedanta, HDFC Bank, Piramal Pharma, Bank of India

Stocks to watch: Piramal Pharma aims to double its revenue to $2 billion by FY30, while tripling its Ebitda, said company Chairperson Nandini Piramal.

Majority of Adani group stocks settle lower, Adani Power down nearly 3%

As many as seven Adani group stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of Adani Power dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of ACC jumped 1.94 per cent, NDTV climbed 1.01 per cent and Ambuja Cements (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 p

Adani floats subsidiary in China for providing project management services

Adani Group has formed a subsidiary in China to carry out business of providing supply chain solutions and project management services, according to a regulatory filing. Adani Enterprises, the group's flagship firm, in the filing said a Singapore-based step-down subsidiary incorporated a wholly-owned subsidiary, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China on September 2, 2024. "AERCL is incorporated to carry out business of providing supply chain solutions and project management services," it said without providing details. The subsidiary was incorporated by Adani Global Pte (AGPTE), Singapore - a step-down subsidiary of Adani Enterprises Ltd (AEL). AEL houses the conglomerate's mining, roads, airports, data center and water infrastructure businesses. "AERCL has been incorporated and registered under the laws of Company Law of the People's Republic of China on September 2, 2024," the filing said. AERCL is yet to commence its business operations. T