ADANI GROUP
2027-28 demerger in sight, Adani Group's airport arm prepares for independent operations, CFO confirms
Adani Group plans to demerge its airport business by the financial year 2027-28 as outlined by CFO Robbie Singh. The business must meet financial self-sufficiency, independent operational capability, and growth investment criteria. The Group has launched NCDs to raise Rs 400 crore with an option to extend to Rs 800 crore.
Gautam Adani family wealth surges 95% in 1 year to Rs 11.6 lakh crore: Hurun Rich List
Despite negative publicity from the Hindenburg report, Gautam Adani’s family wealth surged by 95% to Rs 11.6 lakh crore over the past year, adding Rs 5,65,503 crore, according to the 2024 Hurun India Rich List. As a self-made entrepreneur, Adani achieved the highest wealth growth among the top 10 over the past five years, increasing his net worth by Rs 10,21,600 crore despite the Hindenburg crisis.
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.
Adani Group to invest Rs 3,500 cr in 2 projects in Madhya Pradesh
The Adani Group will invest `3,500 crore in Madhya Pradesh to establish a cement grinding unit in Guna and a propellant production plant in Shivpuri. These projects are expected to create over 3,500 jobs. The conglomerate has already invested more than `18,000 crore across various sectors in the state.
Adani Enterprises likely to launch Rs 800-crore public bond issue on Sept 4
Adani Enterprises plans to launch a public bond issue worth ₹800 crore on September 4. The issue, managed by the Trust Group, AK Capital, and Nuvama Wealth Management, has a base size of ₹400 crore and an option to keep another ₹400 crore under the green shoe option. The bonds are expected to be rated A+.
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.
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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.
Billionaire Adani's Mumbai slum revamp struggles to secure land in potential setback
Billionaire Gautam Adani's joint venture encountered difficulties in acquiring land to rehouse residents of Mumbai's Dharavi slum. Although they secured a $619 million redevelopment bid, securing additional land for those not eligible for free homes remains challenging, which could delay the ambitious project timeline.
Why this Adani bull is raising its bet on Ambuja Cements
Ambuja Cements, owned by Adani Group, saw an investment boost from GQG Partners, increasing their stake to 2.04%. Shares rose 4% following the deal. The Adani Group plans to raise Rs 30,000 crore by selling shares in its listed firms. Adani is aggressively expanding its cement business to challenge market leader UltraTech.
Adani Group likely to sell 2.84% in Ambuja Cements for Rs 4,200 crore
Adani Group is set to sell a 2.84% stake in Ambuja Cements on Friday to raise approximately ₹4,200 crore through a block deal. The shares will be sold at a floor price of ₹600 each, a 5% discount to Thursday's closing price. Adani Group's current stake in Ambuja Cements stands at 70.33%.
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.
Adani Group to sell shares worth Rs 4,200 crore in Ambuja Cement on Friday
The Adani Group plans to sell a 2.84% stake in Ambuja Cements through a block deal, aiming to raise Rs 4,200 crore. Holderind Investments, an Adani Group entity, will sell nearly 70 million shares at Rs 600 per share, a 5% discount to the recent closing price.
Billionaire Gautam Adani to revamp family offices, hire auditors and CEO to boost oversight
Billionaire Gautam Adani plans to hire auditors from a top global firm and appoint a CEO for his family offices to improve transparency and disclosure. This move follows last year’s scrutiny by Hindenburg Research over the group’s opaque operations. Professionals will be hired to oversee shareholding and financial reporting, making the family office fully operational by April 2025.
Adani group EBITDA surges 33% in Q1, leverage at multi-year low
"The consistently advancing EBITDA is largely driven by the Group's highly stable and resilient 'core infrastructure' platform, which constitutes over 80 per cent of the portfolio EBITDA and saw a remarkable 41.6 per cent growth year-on-year in Q1," it said.
Adani Group touts cash pile to ease Hindenburg-fueled concerns
The Adani Group has reassured investors by stating it has sufficient cash to cover over 30 months of debt payments, addressing liquidity concerns as it plans new fundraising for its flagship unit. As of the end of Q1 of the fiscal year, its cash reserves accounted for 24.8% of its gross debt, up from 17.7% a year earlier.
Adani portfolio sees 50% growth in profit in June quarter, operating profit up 33%
Adani group's June quarter profit soared by more than 50%, aided by strong performances in its utility and infrastructure sectors. Net profit was Rs 10,279 crore, with the majority of EBITDA from these areas. Utility operations grew by 41.44%, while infrastructure expanded by 70%. Adani Cement experienced a profit drop of over 30%.
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%.
Anti-Hindenburg pill? Adani stocks rally up to 6% on MSCI good news
Adani Group stocks rallied up to 6% following MSCI's decision to lift previously imposed restrictions due to Hindenburg's allegations. MSCI announced the implementation of index review changes from August 2024, which provided relief to Adani. Despite accusations against Sebi chief Buch, the market response was muted, with Sensex and Nifty ending marginally lower.
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 Group hosts UK envoy Lindy Cameron; interacts with Chevening-Adani AI scholarship awardees
hosted British High Commissioner Lindy Cameron. The UK envoy in India engaged with the 2nd batch of Chevening-Adani AI scholarship awardees destined for the UK's leading universities.
Hindenburg blackmail plan falls apart, says Vijay Kedia
Investor Vijay Kedia shared his view on the dispute between Hindenburg Research and SEBI chief Madhabi Puri Buch. Hindenburg claimed that Buchs held stakes in offshore funds tied to Adani Group.
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.
Hindenburg vs Sebi clash: How Sensex, Nifty and Adani stocks may react on Monday morning
Sensex and Nifty may see minor corrections due to new claims by Hindenburg against Sebi chief Madhabi Puri Buch's family in the Adani controversy. Market experts advised caution while awaiting more details. Both the Buch family and the Adani Group refuted the allegations, with the latter calling them a desperate attempt lacking substance. Sebi has told investors to remain calm.
Invested in IPE-Plus Fund for childhood friendship, money didn't go to Adani: Sebi chief Madhabi Buch
Sebi Chairperson Madhabi Puri Buch clarified allegations from Hindenburg about investments in an Adani-linked offshore fund. Buch revealed that the investment was influenced by her husband's childhood friend Ahuja's previous role. She denied any Adani-related investments and provided details about their professional background and financial disclosures.
Hindenburg vs Sebi: Madhabi Buch-linked IPE-Plus Fund says never invested in Adani shares
360 ONE Asset Management stated that its IPE-Plus Fund 1 did not invest in Adani shares. Operating from 2013 to 2019, the fund focused on bonds and had minimal investor participation. Allegations from the Hindenburg report involving Sebi chief Madhabi Buch were refuted by both the Buch family and 360 ONE WAM.
Hindenburg allegations are red herrings thrown by discredited short-seller: Adani Group
The Adani Group issued a statement rejecting new claims involving Sebi chief Madhabi Puri Buch and her husband in the Hindenburg case. The group denied any commercial relationship with them and described the allegations as baseless, manipulative, and recycled. The Supreme Court had previously dismissed similar allegations in January 2024.
Hindenburg vs Sebi among 6 factors to dictate Nifty mood this week
While there are no fresh allegations against the Adani Group, the shares of which recouped losses made in the aftermath of the Hindenburg crisis, the new report may impact investor sentiments.
Hindenburg claims Sebi chief Madhabi Buch had stake in offshore entities linked to Adani
Hindenburg has now targeted Sebi chief Madhabi Puri Buch and her husband Dhaval Buch in the Adani issue saying that the couple owned stakes in Mauritius and Bermuda-based offshore entities linked to Gautam Adani's brother Vinod Adani. "If Sebi really wanted to find the offshore fund holders, perhaps the Sebi chairperson could have started by looking in the mirror," Hindenburg said in its report.
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.
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