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
Foreign portfolio investments(FPIs) mainly focusing on a single corporate group must now provide information regarding their ownership and economic interests to the Indian regulator, Sebi. This stipulation was announced on Wednesday in an attempt to prevent potential abuse of the Foreign Portfolio Investments(FPIs) and guard against the dangers of an unsolicited takeover attempt of Indian
The Securities and Exchange Board of India (SEBI) released a consultation paper seeking to impose additional transparency measures on foreign portfolio investors (FPI) who pose a high risk. Among other things, these disclosures are intended to prevent misuse of the FPI route by foreign investors to take over Indian companies. By highlighting other risks, such
First among the equals is Adani group stock Ports and SEZ, which has seen its share price bounce back to pre-Hindenburg levels. As of Tuesday, Adani Ports & SEZ shares rose by 6% to 773 apiece, up from the closing price of 761 on January 24. Hindenburg Research’s report was published on that day, sparking
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, a billionaire and member of the Adani Group, is planning to purchase a majority stake in NDTV, which will bring his family one step closer to owning Indian media. Yesterday, Adani Group bought a 29.2% stake in NDTV for 1.14 billion rupees ($14.3 million) and it plans to buy more 26% of the
