Page 5 - Adani Power

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

Gujarat govt paid Rs 8,200 cr in excess to Adani Power, says Congress

The Congress on Tuesday alleged the Gujarat government has paid Rs 8,200 crore in excess to Adani Power towards electricity purchase charges in two years which it dubbed "favouritism", a claim dismissed by the power minister who cited the rise in coal purchase cost. The Congress also demanded that the government recover the "additional Rs 8,265 crore" from Adani and invest it in increasing the capacity of state-run power generators. During Question Hour of the budget session of the Assembly, Congress MLA Tushar Chaudhary sought to know the rates at which the government purchased electricity from Adani Power Ltd during 2022 and 2023. In his reply, Power Minister Kanubhai Desai said electricity is purchased as per the "merit order" system which was introduced by the former Congress-led UPA government. "The state government had entered into an agreement with Adani Power in 2007 to purchase power at Rs 2.89 per unit under bid-1 and at Rs 2.35 per unit under bid-2 for 25 years. Such pow

CRISIL upgrades rating on Adani Power's bank loan facilities to 'AA-'

Crisil Ratings has upgraded its ratings on Adani Power's Rs 38,000 crore of bank loan facilities to 'AA-', saying the business and financial risk profile of the company has seen "strong improvement". The loan facilities were rated 'A' with a stable outlook earlier. "The rating upgrade follows the strong improvement in the business and financial risk profiles of APL," Crisil Ratings said in a report. The upgradation is driven by better-than-expected operating performance backed by timely commissioning and ramp-up of the Godda power plant (1.6 GW), Mahan power plant (1.2 GW), full recovery of pending regulatory dues related to claims for fuel costs as pass-through under change in law clauses of existing power purchase agreements (PPAs) and continued improvement in receivables, it said. "The rating also factors in the completion of most of the regulatory investigations into Adani Group. Regulatory investigations in two remaining allegations are underway and are expected to be complete

Adani Ports, Power: Charts suggest up to 23% upside for these Adani stocks

Over the last one year, select Adani Group stocks such as Adani Power, Adani Green, Adani Enterprises and Adani Ports have zoomed up to 300 per cent from their February 2023 lows.

Stocks to watch on Jan 29: HDFC Bank, SBI Cards, Adani Power, Coal India

Stocks to watch on January 29, 2024: Investor focus this week remains on the US Fed's rate outcome on Jan 31 and the interim budget back home on Feb 1

Adani Power Q3 results: Net profit surges to Rs 2,738 cr as volumes swell

In Q3FY24, Adani Power reported a consolidated net profit of Rs 2,738 crore, up from a profit of Rs 9 crore reported in the same period a year ago

Adani Power inks pact to sell stake in 2 arms to AdaniConnex for Rs 540 cr

Adani Power on Thursday said it has inked an initial pact to sell 100 per cent equity in its two arms Aviceda Infra Park and Innovant Buildwell to AdaniConnex for Rs 540 crore. "Adani Power has entered into a Memorandum of Understanding (MOU) to sell its 100 per cent equity stake in its two wholly-owned subsidiaries i.e. Aviceda Infra Park Ltd (AIPL); and Innovant Buildwell Private Ltd (IBPL) to AdaniConnex Private Ltd (ACX)," a BSE filing said. Consequently, the AIPL and IBPL will cease to be wholly-owned subsidiaries upon completion of the sale, it added. The filing showed that the AIPL and IBPL are being sold for a consideration of Rs 190 crore and Rs 350 crore, respectively. AdaniConnex Private Ltd (ACX) is a 50:50 joint venture between Adani Enterprises, which is a promoter group company, and EdgeConneX. It is engaged in the business of developing world-class data centres and providing co-location hosting and ancillary services, including managed services, remote hands and fe