The confusion over the alleged freezing of the demat accounts of three big Mauritius-based investors in Adani group companies edged closer to being resolved, with National Securities Depository Ltd clarifying that the three accounts were frozen five years ago by a SEBI order. Adani Group divulged a clarification it received from NSDL, the agency which […]
Adani Transmission, a part of the diversified Adani Group, disputed a report by financial newspaper Economic Times that said that NDSL had frozen the share accounts of three foreign investors who held nearly Rs 43,500 cr worth of stock in various Adani group companies. Economic Times had carried the news quoting an update published by […]
Adani Welspun Exploration Ltd. (AWEL), a joint venture between the Adani Group and Mumbai-based Welspun Enterprises Ltd, announced its first ever gas discovery in a NELP-VII block Tapti-Daman Sector of Mumbai Offshore basin. Known as MB-OSN-2005/2, the 714.6 sq.km block is located in an area where production is already underway by other operators. The block […]
As Vodafone Idea unveils a new brand identity, the financial troubles facing the company has as thrown into question the very future of the Indian telecom operator. There has been speculation that American telco Verizon or online retail giant Amazon may infuse money into the operator, but such rumors have been quashed by the Indian […]
Adani Australia said it will start ramping up mining activity at its Carmichael mine in Central Queensland, Australia over the coming days as it has received the final environmental approval for the project. The mine can produce up to 60 million tons of coal per year, but the company will produce only 27.5 million tons, […]
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator, said it signed a 50-year Build Operate and Transfer (BOT) agreement to develop and operate a container terminal at Yangon port, Myanmar. BOT is a form of project financing wherein a private entity receives concession from the private or public sector to finance, […]
Adani Power Ltd (APL), a subsidiary of Adani Enterprises Ltd and a part of the Adani Group, said that it has received the Letter of Intent for the acquisition of Korba West Power Company Limited. The development comes after the committee of creditors of Korba West Power, which is currently undergoing insolvency resolution process and […]
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator said it hit the target of achieving annual volume of 200 millon tons of cargo movement one year ahead of schedule, and plans to double the throughput by 2025. Adani Ports had taken 12 years to reach the 50 million ton mark. Its […]
Reliance Infrastructure Ltd said it has completed the sale of its Mumbai power business to Adani Transmission for Rs 18,800 cr. Out of the total amount, it has already got Rs 13,800 cr, and has used the amount to pay back its debt. It will get another Rs 5,000 cr next year. “Regulatory Assets under […]
Adani Ports and Special Economic Zone Ltd said it has received relevant regulatory approval for the acquisition of Kattupalli port near Chennai from L&T Shipbuilding. The company said it now expects to close the transaction, announced two years ago, in one week. The Port is located 30 kms towards north of Chennai and and can […]
Anil Ambani-led Reliance Infrastructure said it has won approval from the Maharashtra Electricity Regulatory Commission for the sale of its Mumbai power business to Adani Transmission Ltd. It said it now expects to close the Rs 18,800 cr transaction next month. Reliance Infrastructure will utilize the proceeds of the transaction entirely to reduce its debt, […]
Adani Group said it appointed Anil Sardana, who stepped down as Tata Power CEO three months ago, as the new CEO of its power transmission and distribution business just as it gets ready to take on the Tatas in Mumbai. Two months ago, Adani announced an agreement to purchase the transmission and distribution business of […]
Adani Ports and Special Economic Zone said it signed a long term agreement with Indian Oil Corporation (IOC) to provide Liquefied Natural Gas (LNG) regasification services on a use-or-pay basis at its upcoming LNG import terminal at Dhamra in Odisha. As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity […]
Punj Lloyd, Rave Gears (USA) and Adani Group said they will set up a joint venture to manufacture helicopter parts. The collaboration will use the manufacturing base in India for exports to global OEMs, both in the military and civil aerospace domain, Adani Defence & Aerospace said. The JV will design, manufacture and assemble high […]
Diversified group Adani Enterprises reported revenue of Rs 9,938 crores for the Oct-Dec quarter compared to Rs 8,606 crores for the same quarter last year. Due to the higher revenue, operating profit (EBIDTA) jumped to Rs 1,048 crores from Rs 705 crores last year. Net profit inched up to Rs 351 crores from Rs 340 […]
Adani Power said it will set up a new 1,600 MW coal power plant at Godda Jharkhand to supply power to Bangladesh for a period of 25 years. It said the company has signed a Power Purchase Agreement (PPA) with the Bangladesh Power Development Board for the same. The plant will be of the ‘ultra-supercritical’ […]
Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Adani Enterprises Limited said it will demerge Adani Green Energy Ltd by cancelling the shares it holds in the subsidiary and issuing new shares directly to the shareholders of the parent company. Shareholders will get 761 shares of the new company for every 1,000 shares they hold in the parent company. They do not have […]
Defence and security company Saab, maker of Gripen jets, has tied up with India’s Adani Group for aerospace and defence production in India. “The intended collaboration would encompass design, development and production of Gripen for India and other high-tech products of national importance for India and also the creation of joint ventures in India in […]
Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets. “SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be executed upon […]
