Taking advantage of the Hindenburg effect, the Adani Group is back on its expansion path via an inorganic route. On Thursday, Ambuja Cements said it acquired Sanghi Industries (SIL) for a value of ₹5,000 crore. The acquisition will be fully funded by internal accruals. Ambuja will acquire 56.74% of SIL from its existing promoter group,
The Adani Group’s copper-producing facility in Mundra, Gujarat will commence its operations in March 2022, reducing India’s reliance on foreign imports while aiding the energy transition. Copper is known to be a popular conductor due to its use in wires for deeper electrification; as such, it is essential for technologies such as electric vehicles, charging
APSEZ, the flagship company of Adani ports Group, handled 120.51 million metric tonnes (MMT) of rail cargo in FY23, up from 98.61 MMT in FY22. Through the Indian Railways’ General Purpose Wagon Investment Scheme (GPWIS), APSEZ saw a 62% YoY increase in rail cargo. Mundra Port handled over 15,000 container trains in FY23. As a
The Adani Group has taken action to suspend work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat. Sources reported that this move is to focus resources to consolidate operations and address investor concerns stemming from a damning report by a US-based short seller. Earlier this year, the group’s main company Adani Enterprises
Adani Enterprises jumps 11% as all group stocks surge – Adani group’s combined market cap increases by over 82,000 crore in two days In the first half of trading on Wednesday, Adani Enterprises’ shares soared over 11%, helping the group’s combined market capitalisation surge by over 45,010 crore. All nine group companies posted gains. In
Investors have various reasons for investing in Adani shares. Some believe in the company’s future potential while others are interested in its current position. However, all investors should carefully consider their options before making any decisions. Adani is an Indian multinational conglomerate company headquartered in Ahmedabad, Gujarat, India. It was founded by Gautam Adani in
Gautam Adani is also the richest person in India at the moment, with his estimated net worth of $115.6 billion. The Indian tycoon’s wealth has more than doubled since early 2021, as per Forbes. He first appeared on Forbes’ list of the World’s Billionaires in 2008, with his net worth being $9.3 billion at the
