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Adani Group’s Ambuja Cements Makes Strategic Move with Acquisition of Sanghi Industries for ₹5,000 Crore

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,

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Business Economic & Finance Energy & Environment

Adani $1.1 billion copper project will begin operations From March 2024

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

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Economic & Finance Logistic & transportation

Adani Ports Achieves Highest-Ever Rail Cargo of Over 120 MMT in FY23

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

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Economic & Finance Energy Oil & Gas

A petchem project worth Rs 34,900 crore has been suspended by Adani Group in the wake of Hindenburg

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

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Adani Enterprises jumps 11% as all group stocks surge – Adani group’s combined market cap increases by over 82,000 crore in two days

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

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Adani Shares: Why To Invest Now? Here’s Everything Investors Need To Know

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

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A man to became India’s second richest person after 20 years of struggle – Gautam Adani

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

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