ADANI AIRPORT
Adani joins Tata and Ambani in race for elusive India superapp
Given the limited traction gained by Ambani’s MyJio and Tata’s Neu despite their wider range of consumer businesses, the Adani Group — whose businesses are largely infrastructure and heavy industrial ones — may have set itself a daunting task.
Zero factual inaccuracies with our Adani research: Hindenburg on Sebi notice | Read short seller's full response here
Adani-Hindenburg Case: US-based short-seller Hindenburg Research stated Kotak Bank, one of India’s largest banks and brokerage firms founded by Uday Kotak, which created and oversaw the offshore fund structure used by our investor partner to bet against Adani. Instead it simply named the K-India Opportunities fund and masked the “Kotak” name with the acronym “KMIL”
A war of titans builds up in India's cement sector
The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.
Rs 2,000-crore new terminal of Guwahati airport to open in April 2025: official
The Adani Group-run Lokpriya Gopinath Bordoloi International Airport in Guwahati will shift to its new terminal by April 2025. It has been delayed by design changes The airport aims to be India's most efficient terminal at a cost of over Rs 2,000 crore. The new terminal will accommodate 13.1 million passengers annually, increasing runway capacity and introducing amenities like an MRO facility, helipad, and cargo market to establish the airport as an international hub for South East Asia.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
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Adani Group to increase capex in FY25 to Rs 1.3 lakh crore from Rs 70,000 cr
Adani Group plans to increase FY2025 capital expenditure to Rs 1.3 lakh crore ($15.6 billion) from Rs 70,000 crore. Adani Green Energy will allocate 340 billion rupees to add 6 gigawatts of capacity. The conglomerate aims to leverage India's infrastructure growth, dismissing rumors of a stake in Paytm but open to fintech opportunities.
Set to capitalise on opportunities in infra space, says Gautam Adani
The core infrastructure group which has businesses ranging across ports, green energy, cement, airports, power and transmission will be setting up the largest energy installation, redeveloping the largest slum and making the largest single location copper smelter of the world in the country over the next few years.
'Aircraft took off': Adani reviews impact of Modi era on India’s growth after 1991-2014 reform runway
Gautam Adani highlighted India’s infrastructure evolution, noting foundations were laid from 1991-2014, leading to rapid development in the last decade under PM Modi. Speaking at a CRISIL event, Adani praised the National Infrastructure Pipeline's integrated approach and announced Adani Group’s $100 billion investment in green energy, aiming for 50 GW capacity by 2030
Gautam Adani explores strategic partnership with Tanzania during meeting with President Samia Suluhu
He posted, "It was an honour to meet the charismatic President of the United Republic of Tanzania, Her Excellency @SuluhuSamia . Fascinating to hear her deep insights about the future of Africa and discuss the possibilities for forging a long-term partnership with one of Africa's most promising and strategically important nations.Group leveraging its expertise across various infrastructure sectors, including ports, renewable energy, airports, transmission, distribution and rail to help build world-class infrastructure in Tanzania."
Chris Wood of Jefferies picks GMR Airports, trims stake in 3 bank stocks
Jefferies' Global Head of Equity Strategy Chris Wood has added GMR Airports Infrastructure to India portfolio and reduced stakes in ICICI Bank, HDFC Bank, and Axis Bank.
Adani Airport raises RS 150 cr via bond issue
Adani Airport Holdings raises ₹150 crore debt at 9.95% for capital expenditures and transaction costs, issued senior secured non-convertible debentures maturing in June 2028.
Airport industry's pre-tax profit to grow 35% in FY25, CAPA India says
India's airport industry is expected to see a 35% rise in pre-tax profit for fiscal year 2025, driven by strong demand for air travel, as estimated by aviation consultancy CAPA India.
Adani One launches cobranded credit cards with ICICI Bank, enters financial services
Adani One, the super app by Adani group, launches cobranded credit card with ICICI Bank. The card offers rewards for spends within Adani ecosystem.
Adani Group & ICICI Bank launch co-branded credit cards with airport lined benefits
Adani Group and ICICI Bank have joined hands to introduce co-branded credit cards offering airport-linked benefits, aiming to enhance customer experience across various businesses. The Adani One app, launched in December 2022, serves as a digital platform for booking tickets, accessing airport facilities, and more. The cards provide perks like Adani Reward Points on various spends, premium lounge access, free air tickets, discounts on duty-free shopping, and F&B expenses at airports.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies saw a record 45% rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24, marking a massive comeback for the apples-to-airport conglomerate. The group focused on containing debt, reducing founder share pledge, and consolidating the business in core competencies. The five-year compound annual growth rate for profit growth was 54%.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
Adani Group FY24 profit jumps 55% to cross Rs 30,000 crore. Jefferies likes 3 stocks
Adani Group Stocks: Adani Group's FY24 profit surges by 55% to Rs 30,768 crore post Hindenburg crisis. Jefferies favors Adani Enterprises, Adani Ports, and Adani Energy Solutions, citing robust EBITDA growth and strategic initiatives. Adani Ports set to join Sensex on June 24.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Adani Enterprises, Adani Energy Solutions to consider fund raising next week
Adani Enterprises and Adani Energy Solutions are planning to raise funds via equity through board meetings next week. Adani Enterprises previously raised Rs 12,500 crore through a QIP in May 2023.
Passenger traffic at Mumbai airport rises 16% to 52.8 million in FY24
Mumbai airport's passenger traffic increased by 16% YoY to 52.8 million in FY24, according to the airport operator. The airport handled 43.9 million passengers in the previous fiscal. The surge was attributed to both domestic and international passenger traffic. Air traffic movements increased by 12% in FY24, while bag processing reached 40.7 million, a 31% year-on-year increase.
Adani to invest $14 bn in FY25: Green portfolio will see 70% of the chunk
Adani group plans to invest more than Rs 1.2 lakh crore (about USD 14 billion) across its portfolio companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, as it doubles down on its USD 100 billion investment guidance over the next 7-10 years to grow businesses, sources said. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 per cent higher than what the portfolio is estimated to have incurred in FY24.
A $2 billion airport will test Modi’s mission, Adani’s ambitions
In many ways, the Adani Group-helmed $2.1 billion project in the satellite city of Navi Mumbai is a microcosm of the massive infrastructure overhaul underway in India as its Prime Minister Narendra Modi seeks to outrun China. For Gautam Adani, it’s a test of whether he can put India on the global aviation map.
Adani Airport Holdings raises Rs 150 crore at 9.95%
The proceeds of funds will be used for capex requirement of restricted companies who in turn will use it for improvement works of certain existing airport.
Adani Group keen to buy AAI's stake in Mumbai airport: Report
The Adani Group is considering a bid to acquire the stake held by the Airports Authority of India (AAI) in the Mumbai International Airport. However, the group is not interested in acquiring AAI's residual share in airports such as Delhi, Bengaluru, and Hyderabad. They also plan to bid for airports that the government may put up for auctions. The group's strategy is to focus on acquiring a controlling stake in the Mumbai airport, where they are already a majority stakeholder, rather than other airports.
Plan to invest ₹60,000 cr in airport biz in next 10 years: Adani Ports MD
The Adani Group plans to invest ₹60,000 crore over the next decade in its airport business, excluding the ₹18,000 crore already invested in the first phase of the Navi Mumbai airport. The investment will focus on infrastructure like runways, terminals, and city-side amenities, funded through internal accruals. The group aims to transform its airports into major international hubs, anticipating a significant increase in international travel. Once profitable, the airport business will be listed. With eight airports, the group aims to cater to 250-300 million passengers by 2040, up from the current 73 million across seven operational airports.
Adani in talks with Hong Kong-based Plaza Premium Group for airport lounge JV
Adani Airports is in talks with Plaza Premium Group to run airport lounges in India through a joint venture, aiming to elevate hospitality standards. Adani Airports is India's largest airport infrastructure company, while Plaza Premium Group has an international footprint at 80 airports in 30 countries.
Adani Airports raises Rs 400 crore via NCDs
In a rating report dated January 29, Crisil stated that AAHL has debt obligations of Rs 1300 crore during the fiscal year 2024 and 2025, which will be met through a cash flow of Rs 1600 crore. The report also said that the company has a capex plan of Rs 8400 crore in fiscal 2024 and 2025, which will be funded through capital advances of Rs 2000 crore, internal accrual, and additional debt.
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