Page 4 - Adani Power

MOIL, Adani Power, Sapphire Foods among eight stocks to watch on June 4

Stocks to watch on June 04: Sapphire Foods has scheduled a board meeting on June 19 to discuss and approve the stock split of equity shares

Adani Power arm approves merger of Stratatech Mineral Resources into self

Adani Power Ltd (APL) on Monday said its arm Mahan Energen Ltd has approved a proposal to merge coal mining firm Stratatech Mineral Resources with itself which will help improve fuel security. Stratatech Mineral Resources, a subsidiary of Adani Enterprises, has been allocated Dhirauli Coal Mine in Madhya Pradesh. The coal mine is in close proximity to MEL's thermal power plant. The proposed amalgamation will allow MEL to operate the Dhirauli Coal Mine as captive coal mine and improve its fuel security, the company said in an exchange filing. Dhirauli Coal Mine has a peak-rated capacity to produce 6.5 million tonnes per annum of coal. The proposed scheme of amalgamation is subject to necessary approvals including that of shareholders, the company said. "... the wholly-owned subsidiary Mahan Energen Limited (MEL or the transferee company) has approved a scheme...for amalgamation of Stratatech Mineral Resources Private Limited (SMRPL or the transferor company) with MEL," it said. SM

Adani group shares in demand; Enterprises, Total Gas, Power rally up 14%

Adani Power hit a record high of Rs 791.95, as it zoomed 13 % in intra-day trades as India's foremost private power producer, is very well placed to benefit from the long-term power demand outlook.

AEL, Adani Ports: Trading strategies in Adani Group stocks post Q4 results

Adani Group stocks technical outlook; Adani Enterprises, ACC and NDTV seem negative on the charts, while Adani Ports, Adani Green and Ambuja Cements hold promise. Other Adani stocks seen range-bound.

Adani Group faces Sebi scrutiny; show-cause notices issued to 6 firms

Six Adani Group firms face Sebi scrutiny for alleged breaches in related party transactions and listing regulations

Why Adani Total Gas, Adani Power, Adani Wilmar will be in focus on May 2

Stocks to Watch on Thursday, May 2, 2024: Adani Power has reported a 48 per cent Y-o-Y fall in consolidated net profit at Rs 2,737 crore for the quarter ended March, 2024

Adani Power Q4 result: Net profit down 48% at Rs 2,737 cr, revenue up 30%

Adani Portfolio of companies will continue to provide innovative, reliable, and scalable solutions to support the nation's economic growth, says Gautam Adani

From RIL to Adani Power, top firms see cessation of independent directors

Industry experts said many companies have already onboarded new independent directors or are in the process of doing so

Adani Power hits record high; rallies 18% in 4 days on healthy outlook

The stock of the Adani Group integrated power utilities company is quoting higher for the fourth straight trading days, surging 18 per cent during this period

Adani Power revives old ambitions as power demand surges in India

At present, the largest power producer in the country is NTPC with 75 Gw capacity and the largest private sector player is Adani Power, with Tata Power a close second

Watch: Collaboration between Ambani's RIL and Adani Power

Adani Power merges Rs 19,700 cr loans from 6 arms into long-term debt

Adani Power on Thursday said it consolidated different short-term loan facilities worth Rs 19,700 crore availed by the company's six special purpose vehicles into a single long-term debt. The revised arrangement will help the company benefit from a uniform tenure and reduce effective interest rate, Adani Power said in a regulatory filing. The company said the loan consolidation under a consortium financing arrangement comprising eight lenders became possible with the amalgamation of its six special purpose vehicles (SPVs) after the credit rating of Adani Power Limited (APL) was enhanced to AA-. In a separate filing, Adani Power informed that its wholly-owned subsidiary Mahan Energen Limited (MEL) has entered into a 20-year long-term power purchase agreement with Reliance Industries Limited (RIL). The agreement is for the supply of 500 MW of electricity under the captive user policy as defined in the Electricity Rules, 2005, the filing said. One unit of 600 MW capacity of MEL's the

Bhel gets Rs 4,000 crore order for 1600 MW thermal project from Adani Power

State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) has received an order worth Rs 4,000 crore from Adani Power Limited for setting up the 1,600 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh. BHEL in a filing said that it received a Letter of Award on March 27, 2024, for the supply of equipment and supervision of erection & commissioning for 2x800 MW power project based on supercritical technology at Raigarh Phase II, Chhattisgarh. The boiler and Turbine Generator are to be manufactured at BHEL's Trichy and Haridwar plants respectively. The supply of Unit-1 will take 31 months and Unit-2 (35 months).

Adani Power gets CCI's approval to acquire Lanco Amarkantak Power

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Adani Power's proposed acquisition of Lanco Amarkantak Power. Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a release. Insolvent Lanco Amarkantak Power is engaged in the business of thermal power generation. On March 5, Adani Power announced it received the creditors' approval for the resolution plan to acquire insolvent Lanco Amarkantak Power. "The proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India," CCI said. Adani Power is engaged in the business of thermal power generation in India. In another release, CCI said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including Ranjan Pai's MEMG Family Offi

SC rejects Adani firm's plea for over Rs 1,300 cr as LPS from Raj discom

The Supreme Court on Monday dismissed a plea of Adani Power Rajasthan Ltd seeking over Rs 1,300 crore as late payment surcharge from the Jaipur Vidyut Vitran Nigam Limited, a Rajasthan government-owned power distribution firm. Imposing Rs 50,000 as cost on Adani Power Rajasthan Ltd (APRL), a bench comprising Justices Aniruddha Bose and PV Sanjay Kumar ruled that filing of a miscellaneous application was not the proper legal recourse to late payment surcharge (LPS) by the Adani firm. Relief of this nature (claiming LPS) cannot be asked in a miscellaneous application which was described in the course of the hearing as an application for clarification, the bench said. The cost of Rs 50,000 imposed on APRL will be deposited with the Supreme Court Legal Aid Committee, Justice Bose said while reading out the operative portion of the judgement. The detailed judgement is awaited. The top court, on January 24, had reserved its judgement. The Jaipur Vidyut Vitran Nigam Limited (JVVNL), ...

Bear Hammering: Paytm, Adani Power among 1,010 stocks at lower circuit

As many as 1,010 stocks were locked at their respective lower circuit on the BSE in late noon deals on Wednesday amid the broader market sell-off.

Adani Power receives creditors' approval for Lanco Amarkantak Power buy

The thermal power producer is planning to aggressively expand its capacity, and this is the company's second acquisition under the insolvency resolution process in the financial year

Private Indian firms look to bet big on coal-fired power after long absence

The potential investments, which have not been previously reported, could cumulatively cost billions of dollars and demonstrate renewed appetite in an industry seen by many as financially unattractive

Whirlpool promoter likely to sell 24% equity stake through block deals

Total deal size may range between Rs 2,337 crore and Rs 3,739 crore

Competition regulator allows Adani Power, DAIT to acquire Coastal Energen

The Competition Commission of India (CCI) on Tuesday said it has approved a proposal to acquire a 100 per cent stake in Coastal Energen Pvt Ltd by Adani Power Ltd and Dickey Alternative Investment Trust. Adani Power Ltd (APL), a part of the diversified Adani Group, is the leading private-sector thermal power producer in India. The proposed transaction involves the acquisition of 100 per cent equity share capital of Coastal Energen Pvt Ltd (CEPL) by the acquirers (Dickey Alternative Investment Trust (DAIT) and APL), according to a release by fair trade regulator CCI. DAIT is a Sebi-registered Alternative Investment Fund (AIF). It is acting through its investment manager Dickey Asset Management Pvt Ltd. CEPL is engaged in the business of generation and sale of power. The company is undergoing a Corporate Insolvency Resolution Process (CIRP) under the insolvency and bankruptcy code. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair