ADANI DEBT
Tamil Nadu govt launches probe into coal import scam allegedly involving Adani group
Tamil Nadu govt authorizes DVAC probe into multi-crore coal import scam involving Adani group, focusing on irregularities in tender conditions by Tangedco. Investigation initiated due to alleged substantial losses, complaint by Arappor Iyakkam under Section 17A. DVAC acts under Prevention of Corruption Act based on complaint by private body. Clearance granted for inquiry into corruption allegations, sanctions under Prevention of Corruption Act.
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.
Adani at AGM: Well positioned to continue programmes with Modi govt now in third term
With the Modi-led National Democratic Alliance securing a third term, Gautam Adani, at Adani Enterprises' AGM, highlighted the group’s continued role in India’s growth. Adani addressed challenges from the Hindenburg controversy, emphasizing financial resilience and ambitious projects, including Mumbai’s Dharavi redevelopment. He projected India becoming the world's third-largest economy by decade's end.
Monday blues! Heavyweights drag Sensex 400 points lower; Nifty below 23,400
The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation. IndusInd Bank fell around 3% and was the top loser in the Nifty pack, followed by 2% plus declines in Cipla, Tata Steel, and Adani Ports. On the other hand, defensives from pharma, FMCG, and IT - Sun Pharma, ITC, Nestle, TCS, and HUL - saw buying action.
Ambuja Cements may repay Penna's debt
Private credit funds, including Edelweiss Alternative Asset, expect Ambuja Cements to repay Penna Cement's high-cost debt ahead of schedule. Adani Group-controlled Ambuja Cements acquired Penna Cement for ₹10,442 crore, aiming to reduce borrowing costs and improve credit ratings. The acquisition will help Ambuja Cements to refinance or repay Penna Cement's existing term loans and high-cost debt, including ₹400 crore to Edelweiss Alternative Asset.
Adani Ports target price increased by Kotak Equities as outperformance is likely to continue
Adani Ports' growth in volumes outpaced the Indian market, despite Gangavaram Port's loss due to strike/shutdown. RITES shares rallied 4% on signing an MoU with DMRC.
- Go To Page 1
Ambuja Cement acquire 100% stake in Penna Cement for Rs 10,422 crore
Ambuja Cement, a company owned by Adani group, has signed a definitive agreement to acquire Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, as per the company’s filing on the stock exchanges.
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.
Adani Group's concrete plan: $3 bn buyouts in cement space
Dalmia Bharat's deal with Jaiprakash Associates, Adani's acquisition of Sanghi Cement, and potential acquisitions of Ambuja Cement or ACC are part of the group's strategic growth plans.
Adani Group suffers Rs 3 lakh crore shock as stocks crash up to 20%
Adani Group Stocks: Shares of all 10 Adani Group companies fell as PM Modi's election results showed unexpected outcome, leading to a 20% crash in Adani Ports stock.
Adani group stocks surge up to 6% a day after Lok Sabha election results
Adani group stocks rebounded up to 6% on Wednesday after an initial 15% decline, triggered by election result disappointment. On Tuesday, all 10 Adani companies faced losses, shedding around Rs 3 lakh crore. Global brokerage Jefferies recommends buying Adani Enterprises, Adani Ports, and Adani Energy Solutions.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
Adani stocks get rid of Hindenburg stain after 16 months as m-cap nears Rs 2 trillion
Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.
Adani third Indian business house to cross $10-b mark in operating profit
Adani Group joins Tata Group and Mukesh Ambani's Reliance Group in achieving $10 billion annual operating profit in FY24 despite challenges.
Adani surge helps indices break losing streak on eve of exit polls
Adani Group stocks surged up to 9% after brokerage Jefferies recommended buying shares of four companies within the conglomerate in Mumbai.
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.
Billionaire Gautam Adani’s green targets questioned in Snowcap analysis
The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.
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.
Goswami Infra seeks change in debt pact to avert higher interest
The move aims to save high interest outgo on RS 14,300 crore bond due in April 2026, refinance its debt. In mid-2023, Goswami Infratech raised Rs14,300 crore zero coupon bonds maturing in April 2026, offering 18.75% as a redemption premium. These bonds also have a so-called most favoured nation (MFN) clause, which says that if any Shapoorji Pallonji (SP) group affiliate borrows at a higher rate after May 26, 2024, Goswami Infratech will have to offer the same return to its bondholders.
Adani Enterprises to invest Rs 80,000 crore in capex this fiscal
Adani Enterprises plans ₹80,000 crore capex, focusing on ANIL and airports. Ganga Expressway gets ₹12,000 crore. Shah mentions coal-to-PVC and data center. Debt rises 31%. ANIL includes green hydrogen, wind turbines, and large monocrystalline unit.
Gautam Adani in talks with banks to borrow $600 million for gas unit
The loan will be raised by Dhamra LNG Terminal Pvt., a unit of Adani Total Pvt., the people said, asking not be named because the details are private. The debt’s tenor could range from three to five years, with the pricing likely linked to the Secured Overnight Financing Rate, they said.
Adani Ports announces dividend of Rs 6; check record date and payment date
Adani Ports and Special Economic Zone declared a dividend of Rs 6 per equity share on Thursday along with their Q4 results. The Adani Group company has declared June 14 as the record date for determining eligible shareholders and the payment will take place on or after June 30.
26 companies queue up for KSK Mahanadi power project
The National Company Law Tribunal (NCLT) vacated the stay on the auction of the power project on April 5, paving the way for a fresh round of bidding. The total claim of lenders on the project is pegged at about Rs 32,000 crore. These companies have given 'expressions of interest', which were to be submitted by April 26 and the timeline to give a resolution plan by the interested parties is June 18, according to the timeline set by resolution professional Sumit Binani.
NCLT admits insolvency resolution plea against listed infra firm Sadbhav Engineering
“The applicant (SS Infra) has proved before us that the outstanding operational debt is more than rupees one crore, which is due to the applicant by the respondent and that the respondent (Sadbhav Engineering) has defaulted in payment,” said the division bench of judicial member Shammi Khan and technical member Sameer Kakar, in its order of April 22.
DIPAM rejects PFC-REC debt resolution proposal for KSK Mahanadi project
DIPAM declined the debt resolution plan for KSK Mahanadi Power project by PFC and REC. NCLT paused sale in June 2022. Interested companies were NTPC Ltd, Vedanta Ltd, Adani Power Ltd, Jindal Power Ltd.
All Adani group stocks in heavy demand; Adani Energy jumps over 8%
All listed Adani group stocks were in the limelight on Monday, with Adani Energy climbing over 8 per cent, as investors flocked to the counters amid a positive trend in the broader market.
Ambani-Adani strategic collaboration: Reliance to acquire 26% stake in 600MW Mahan Energen power unit for Rs 50 crore
Mahan Energen has agreed to allot 50 million equity shares of Rs 10 face value each to RIL at par, Reliance said in a regulatory filing. “The proposed investment by the company is in compliance with the provisions of the Electricity Rules, 2005,” it said. RIL did not disclose any specific purpose for signing the power purchase agreement.
Adani Power subsidiary enters into PPA with Reliance Industries
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-.
SP Group plans to repay Goswami Infra debt by listing Afcons
As part of its debt repayment strategy, Goswami Infratech has floated a plan to repay debenture holders with ₹7,000 crore, leveraging the monetisation of Afcons Infrastructure, according to a consent note sent to existing holders of 18.75% bond maturing in June 2026.
Load More
