ADANI ENERGY
6 Adani stocks, LIC, and 3 PSUs slip below 20 & 50 DMAs: What should investors do?
Despite 77% of Nifty 100 stocks trading above their 20-day DMAs and 63% above their 50-DMAs, 16 stocks, including six Adani Group stocks and several PSUs, have fallen below both moving averages. According to Ace Equity data, this indicates generally favorable trends for large-cap stocks.
Five Indian power companies face over $1 billion payment outage risk in Bangladesh
Bangladesh owes over $1 billion to five Indian power companies, with Adani Power leading the list at $800 million for its Jharkhand-based plant. SEIL Energy India is owed about $150 million, while NTPC is due nearly $80 million. The payments are overdue amidst political turmoil in Bangladesh, which recently led to the Prime Minister fleeing to India.
India's green energy wind drive hits desert herders hard
Whirring wind turbines in India's Thar desert supply critical green energy for the world's most populous nation, but those living in their shadows say it comes at their expense. - 'Paying the price' - The deserts around Jaisalmer district in Rajasthan are dotted with hundreds of turbines, one of India's largest onshore wind farms.
Domestic banks and NBFCs increase exposure to Adani Group to 36% of total debt
Domestic banks and non-banking financial companies raised their exposure to the Adani Group to 36% of its total debt by March 2024, lending ₹88,100 crore. The group’s debt increased due to capital expenditures in airports and green energy. However, a 45% rise in operating profit helped reduce its net debt-to-operating profit ratio to its lowest in six years at 2.19 times, down from 3.27 times a year earlier.
Bid deadline for Sinnar Power extended by one month
The Sinnar Power plant's bidding deadline has been extended to September 20, allowing more time for due diligence. Key concerns include a lack of coal linkage and railway connectivity. Major power producers, including Adani Power and JSW Energy, have expressed interest in the plant located near Nashik, Maharashtra.
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KSK lenders to sell company's two arms to Medha Servo Drives
Lenders have decided to sell two key ancillary companies of KSK Mahanadi Power to Medha Servo Drives, choosing them over Adani Power, the highest bidder. The ancillary companies, Raigarh Champa Rail Infrastructure and KSK Water Infrastructure, are critical for operating the 1,800-megawatt plant. Medha Servo offered to pay almost all dues to lenders, receiving the highest requisite vote. The plan is pending approval from the NCLT.
Rebalancing act: Adani Group's promoters to sell ₹30,000 crore stake in listed companies
The promoters will pare stakes in some listed firms while increasing them in others, according to people with knowledge of the matter. The final aim of this rebalancing exercise is to hold 64-68% stake across firms. The stake sale will begin with Ambuja Cement and Adani Power while the holding will be increased in Adani Green Energy.
Inclusion of 7 stocks in MSCI indices could draw $3 billion
India saw an influx of up to $3 billion in August due to MSCI's adjustments to its indices. HDFC Bank's weight was increased, and restrictions on Adani Group stocks were lifted. Seven cos joined the global standard index, boosting India's weight in the emerging markets index to 20%.
Fresh Hindenburg allegations trip Adani stocks, some fall up to 7%
After the initial drop on Monday, some Adani stocks recovered later in the day. Adani Wilmar, Adani Total Gas, and Adani Energy Solutions ended about 4% lower, while NDTV, Sanghi Industries, and Adani Port fell between 2% and 3%.
Adani Green Energy to see 30 pc CAGR capacity growth
Adani Green Energy Ltd (AGEL) was projected to achieve over 30 per cent annual growth rate in renewable energy capacity, targeting over 50 GW by 2030. The firm aims to add 6-7 GW annually and improve capacity utilization to boost power sales growth by 35%. AGEL's expansion strategy included key assets in Rajasthan and the Khavda site.
Rs 53,000 crore loss! Adani stocks fall up to 7% as investors play safe after Hindenburg resurfaces
Adani Share Price: Shares of Adani Group companies dropped up to 7% this morning as investors reacted to allegations against Sebi chief Madhabi Buch in the Adani vs Hindenburg controversy. This led to a loss of approximately Rs 53,000 crore, with the combined market capitalization of 10 Adani stocks falling to Rs 16.7 lakh crore.
Stock Radar: Adani Energy shows signs of bottoming out after 18% fall in August; time to buy?
Adani Energy experienced an 18% drop in stock price over five sessions but found support above 200-DMA. Experts advise high-risk traders to consider buying for a potential recovery to 1,400 levels within 1-2 months, supported by favorable technical indicators signaling a potential bounce back.
Adani Energy raises $1 billion; gets bids from US investors, sovereign wealth funds
India's Adani Energy Solutions raised $1 billion through a share sale, which got bids from U.S. investors and sovereign wealth funds, the power distribution company said on Monday.
INQ Holdings, SBI funds, Citigroup biggest buyers in Adani Energy's $1 billion QIP
The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire Stanley Druckenmiller's family office-led investment firms were among the companies that sought shares of AESL in the QIP.
Adani Energy shares jump 10%, hit 52-week high on strong response to QIP
The report further revealed that Adani Energy raised Rs 50,000 crore through the issue. More than 125 institutional investors participated in the fundraising of Adani Energy. The company has reported a consolidated net loss of Rs 824 crore for the quarter ended June 30, 2024, as against Rs 175 crore net profit in the year-ago period.
Adani Energy’s $1-billion QIP subscribed over 6 times
Duquesne Family Office, Driehaus Capital Management, and Jennison Associates have invested in Adani Energy Solutions' $1-billion qualified institutional placement. This marked their first venture into Indian equities. The oversubscribed QIP, attracting over ₹50,000 crore, will fund capital expenditure, smart meters, debt repayment, and other corporate needs.
How Adani bull Rajiv Jain’s GQG reshuffled 13-stock portfolio in election season
During June quarter, GQG Partners, led by Rajiv Jain, boosted stakes in Adani Energy, Adani Enterprises, Adani Ports, and ITC, while trimming holdings in IDFC First Bank and Patanjali Foods. GQG's India portfolio has grown to nearly Rs 90,000 crore, with notable gains from Adani stocks post-Hindenburg crisis.
Adani Energy share sale gets three-fold bids as buyers pile in
Gautam Adani’s power transmission unit has seen bids exceeding three times the planned amount for its share sale, indicating robust investor interest. Adani Energy Solutions Ltd.’s $1 billion share sale via qualified institutional placement (QIP) has been oversubscribed by both Indian and international institutions, according to sources familiar with the matter.
Adani Energy rolls out $1-bn QIP; base deal of up to $700 mn
Adani Energy Solutions launched a $1 billion qualified institutional placement, comprising a $700 million base deal and an option for an additional $300 million. Shares are priced at ₹976, a 13.24% discount. The funds will be used for subsidiaries' capital expenditure, smart meters, debt repayment, and general corporate purposes. Key investors include international and domestic funds.
Stocks in news: Maruti, M&M, Tata Consumer, Adani Energy, Vedanta
Sensex and Nifty achieved new record highs amid volatile trading, continuing their three-day winning streak. Stocks like Maruti, M&M, and Tata Consumer were highlighted due to earnings and news. Significant profit reports came from GAIL and Indus Towers. Additionally, Vedanta received creditor approval for its demerger scheme filing.
Adani Energy launches QIP, to raise about $1 billion
In an exchange filing, the company stated that the issue price would be determined in consultation with the bankers. SBI Capital Markets, Jefferies India Private, and ICICI Securities have been appointed as the book-running lead managers for the issue, it added.
Adani Energy Solutions launches QIP, sets floor price at Rs 1027 per share
Adani Energy Solution commenced a qualified institutional placement, targeting to raise up to $1 billion. The floor price has been set at Rs 1027.1 per share. This fundraising comes after the group's stock prices rebounded from a significant drop after allegations of fraud last year.
Adani Energy set to raise up to $1 billion via QIP
This will be the first equity fundraising by an Adani Group company since Adani Enterprises called off its ₹20,000 crore follow-on public offer (FPO) in February last year after having raised the amount.
Adani Enterprises eyes first-ever public debt issue in coming weeks: Report
Adani Enterprises had decided not to proceed with a debut retail bond offering of up to 10 billion rupees last year after U.S.-based short-seller Hindenburg Research accused the group of improper use of offshore tax havens and stock manipulation. Adani Group denied Hindenburg's allegations, but shares of its group companies lost more than $100 billion in value before recovering in late 2023.
Adani to return to equity market with transmission business share sale, sources say
Adani Energy Solutions, led by billionaire Gautam Adani, is likely to launch a share sale this week to raise more than $600 million, two sources with direct knowledge of the matter told Reuters on Monday.
Jefferies initiates coverage on Adani Green Energy with buy rating, sees 18% upside
Jefferies rated Adani Green Energy 'Buy,' expecting leverage reduction and significant profit growth.
Adani Energy said to pick banks for $600 million share sale
Gautam Adani’s power transmission unit, Adani Energy Solutions, prepared a share sale of at least 50 billion rupees, with banks ICICI Securities, Jefferies Financial, and SBI Capital as advisers. The sale could conclude by mid-August.
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