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In a first, gem & jewellery exports upto Rs 1 mn allowed via courier In a major milestone, the Gem and Jewellery Export Promotion Council (GJEPC) has facilitated India’s first exports through the “courier mode” from Mumbai – as against the regular ‘cargo mode’ - marking a huge leap in simplifying international trade, an official said here. The country’s first four jewellery exports from Caratlane worth more than $1,000, via an Air India flight to the US departed on Wednesday. Terming it as a ‘historical ste...
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
Source: IANS
8/09/2023 4:25:35 PM
Adani Group market cap jumps by Rs 12,675 crore   Adani Group stocks posted gains on Friday, leading to an increase in its market capitalisation by Rs 12,675 crore. The total market capitalisation of the 10 listed Adani Group companies touched Rs 10.62 trillion, up from Rs 10.49 trillion in the previous closing. An analyst said, “The Adani Group's recent surge, especially in its power portfolio, exemplifies the renewed confidence and focus of the investor community on its potential instead. This interest isn't m...
Adani Group market cap jumps by Rs 12,675 crore
Adani Group market cap jumps by Rs 12,675 crore
Source: IANS
2/09/2023 9:37:38 AM
Adani Energy Solutions zooms on entering into definitive documents with Megha Engineering & Infrastructures Adani Energy Solutions is currently trading at Rs. 880.00, up by 58.30 points or 7.10% from its previous closing of Rs. 821.70 on the BSE. The scrip opened at Rs. 822.05 and has touched a high and low of Rs. 894.35 and Rs. 822.05 respectively. So far 225487 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4238.55 on 16-Sep-2022 and a 52 week low of Rs. 630.00 on 01-Mar-2023. Last one week high and low of the scr...
Adani Energy Solutions zooms on entering into definitive documents with Megha Engineering & Infrastructures
Adani Energy Solutions zooms on entering into definitive documents with Megha Engineering & Infrastructures
Source: Accord Fintech
18/08/2023 2:37:26 PM
Abu Dhabi`s TAQA evaluating upto $2.5 billion investment in Adani`s power business - ET Abu Dhabi National Energy Company PJSC is evaluating an investment of up to $2.5 billion in the power businesses of Indian billionaire Gautam Adani, reported ET on Friday citing sources.
Abu Dhabi`s TAQA evaluating upto $2.5 billion investment in Adani`s power business - ET
Abu Dhabi`s TAQA evaluating upto $2.5 billion investment in Adani`s power business - ET
Source: Reuters
18/08/2023 9:06:31 AM
India`s Adani group units in talks to tap local bond market Two units of India's Adani group are in talks with merchant bankers to raise as much as 15 billion rupees ($181 million) each through local currency bonds as part of the ports-to-power conglomerate's aim to raise 100 billion rupees this financial year, a company official and three bankers said. The plans are part of the Adani group's tentative return to the local bond markets after a hiatus since January when U.S. short-seller Hindenberg Research raised governance concerns that...
India`s Adani group units in talks to tap local bond market
India`s Adani group units in talks to tap local bond market
Source: Reuters
11/08/2023 1:40:32 PM
India`s Sanghi Industries hits 5-yr high on report Adani-owned Ambuja to buy stake Shares of cement maker Sanghi Industries rose as much as 5% to a more than five-year high on Wednesday on news that Adani-owned Ambuja Cements had reached a deal to buy a majority stake in the company's operations. The deal by Ambuja is likely to be announced on Wednesday, two sources with direct knowledge of the matter told Reuters. The deal was signed by considering Sanghi's enterprise value at 60 billion rupees ($728.20 million), one of the sources said. Sanghi's stock...
India`s Sanghi Industries hits 5-yr high on report Adani-owned Ambuja to buy stake
India`s Sanghi Industries hits 5-yr high on report Adani-owned Ambuja to buy stake
Source: Reuters
2/08/2023 11:08:45 AM
Adani Green Energy Ltd announces Q1 FY24 results; EBITDA from power supply of Rs 1,938 cr up by 53% YoY Adani Green Energy Ltd (AGEL), India’s largest and fastest growing pure-play renewable energy company, on Monday announced financial results for the quarter ended June 30. With an operational capacity of 8,316 MW, AGEL continues to have the largest operating renewable energy portfolio in the country. The sale of energy has increased by 70 per cent YoY to 6,023 mn units in Q1 FY24 primarily backed by strong capacity addition. The solar portfolio CUF has improved by 40 bps YoY to...
Adani Green Energy Ltd announces Q1 FY24 results; EBITDA from power supply of Rs 1,938 cr up by 53% YoY
Adani Green Energy Ltd announces Q1 FY24 results; EBITDA from power supply of Rs 1,938 cr up by 53% YoY
Source: IANS
31/07/2023 3:43:37 PM
India`s Adani to continue using ACC, Ambuja brands; `no plans to merge` cement units India's Adani Group will continue to use its ACC and Ambuja cement brands to sell cement products and has no plans to merge the two entities, Ajay Kapur, chief executive officer of both cement companies, said at an annual shareholder meeting. The group became India's second-largest cement producer in 2022, behind UltraTech Cement, with its $10.5 billion acquisition of both Ambuja Cements and ACC from Switzerland's Holcim. Media reports had said earlier this year that the Ada...
India`s Adani to continue using ACC, Ambuja brands; `no plans to merge` cement units
India`s Adani to continue using ACC, Ambuja brands; `no plans to merge` cement units
Source: Reuters
20/07/2023 3:19:14 PM
Within the next decade, India will start adding a trillion dollars to its GDP every 18 months: Gautam Adani Within the next decade, India will start adding a trillion dollars to its GDP every 18 months, Gautam Adani, Adani Group Chairman, said. Speaking at the AGM of his group companies, Adani added that this puts us on track to be a 25 to 30 trillion-dollar economy by 2050 and will drive India's stock market capitalisation to more than 40 trillion dollars -- nearly a 10X expansion from current levels. "Our country is now the most exciting land of opportunities. We have always expres...
Within the next decade, India will start adding a trillion dollars to its GDP every 18 months: Gautam Adani
Within the next decade, India will start adding a trillion dollars to its GDP every 18 months: Gautam Adani
Source: IANS
18/07/2023 4:50:39 PM
Adani Group commissions India`s first transnational power project Adani Group Chairman Gautam Adani called on Bangladesh Prime Minister Sheikh Hasina in Dhaka on Saturday following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant (USCTPP), in Godda, Jharkhand. The Godda USCTPP, which marks the Adani Group’s entry into transnational power projects, is India’s first commissioned transnational power project where 100 per cent of the generated power is supplied to another nat...
Adani Group commissions India`s first transnational power project
Adani Group commissions India`s first transnational power project
Source: IANS
16/07/2023 8:45:20 AM
AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility Adani ConneX achieved financial closure through its maiden construction facility by entering into Financing Framework, raising $213 million for its under-construction data centre asset portfolio. The tied-up facility will finance two data centres with an aggregate capacity of 67 MW that includes 'Chennai 1' campus with Phase 1 of 17 MW and Noida campus of 50 MW. India is one of the fastest-growing data centre markets in the world, and as per CRISIL estimates the data centre capa...
AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility
AdaniConneX seals largest data centre financing deal in India with $213mn construction financing facility
Source: Accord Fintech
23/06/2023 3:34:56 PM
India`s Adani Group completes $2.65 billion deleveraging program  Indian ports-to-power conglomerate Adani Group has completed a $2.65 billion deleveraging program, it said on Monday in its credit update for fiscal 2023. The group's shares have lost more than $110 billion in value since January, when U.S. short-seller Hindenburg Research alleged it had indulged in stock manipulation and improper use of tax havens, and flagged concerns over its debt levels. Adani Group at the time called the report baseless and termed the allegations "un...
India`s Adani Group completes $2.65 billion deleveraging program
India`s Adani Group completes $2.65 billion deleveraging program
Source: Reuters
6/06/2023 9:08:43 AM
Indian market regulator aims for more disclosures by offshore funds India's market regulator is canvassing opinion on plans to strengthen disclosure requirements for a set of "high-risk" offshore funds investing in the local markets, it said on Wednesday. The move, which could help unravel opaque structures through which some offshore funds invest in Indian listed companies, follows the regulators' investigation of suspected violations by the Adani group of companies, including the flagship company Adani Enterprises. The investigations ha...
Indian market regulator aims for more disclosures by offshore funds
Indian market regulator aims for more disclosures by offshore funds
Source: Reuters
31/05/2023 12:39:08 PM
Adani Wilmar rises on entering into whole wheat category with Fortune brand Adani Wilmar is currently trading at Rs. 451.30, up by 0.95 points or 0.21% from its previous closing of Rs. 450.35 on the BSE. The scrip opened at Rs. 455.05 and has touched a high and low of Rs. 457.85 and Rs. 450.00 respectively. So far 55625 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 841.90 on 23-Sep-2022 and a 52 week low of Rs. 327.00 on 28-Feb-2023. Last one week high and low of the scrip stood at Rs...
Adani Wilmar rises on entering into whole wheat category with Fortune brand
Adani Wilmar rises on entering into whole wheat category with Fortune brand
Source: Accord Fintech
29/05/2023 11:36:32 AM
Adani Group`s Thiruvananthapuram airport goes hi-tech with six e-gates The Thiruvananthapuram international airport, ever since it was taken over by Adani Group, has been undergoing rampant changes - the latest being six e-gates with QR code scanners installed in the pre-Security Hold Area (SHA) of the airport's domestic and international terminals. After checking in, passengers can enter the SHA by scanning their boarding pass at the e-gates. Previously, the officials directly checked the boarding pass and admitted the passengers, but from now on, it ...
Adani Group`s Thiruvananthapuram airport goes hi-tech with six e-gates
Adani Group`s Thiruvananthapuram airport goes hi-tech with six e-gates
Source: IANS
27/05/2023 9:06:19 AM
Two Adani Group firms to raise up to $2.57 billion from the market Two Adani group companies including the Indian conglomerate's flagship firm announced plans on Saturday to raise up to $2.57 billion from the market, months after a short-seller report battered investor confidence and drove share prices down. India's Adani Transmission said its board approved a plan to raise up to 85 billion rupees ($1.0 billion) from the stock market. Adani Enterprise said in a filing to exchanges that its board had approved plans to raise up to 125 billion Indian...
Two Adani Group firms to raise up to $2.57 billion from the market
Two Adani Group firms to raise up to $2.57 billion from the market
Source: Reuters
13/05/2023 2:56:35 PM
Adani-owned Ambuja Cements to expand production capacity by 14 million tonnes  Adani Group-owned Ambuja Cements Ltd said on Friday it would expand its blended cement production capacity by 14 million metric tonnes, as part of a previously announced plan to double capacity over five years. Ambuja placed orders to expand clinker capacity by 8 million tonnes at two units that would operate on green power or renewable energy, and help increase production of blended green cement by 14 million tonnes, it said in a stock exchange filing. The projects are expected t...
Adani-owned Ambuja Cements to expand production capacity by 14 million tonnes
Adani-owned Ambuja Cements to expand production capacity by 14 million tonnes
Source: Reuters
12/05/2023 3:42:04 PM
MSCI kicks two Adani cos from indexes; no changes to Egypt stocks, others Index provider MSCI said on Thursday two Adani-group companies will not be eligible for its global indexes, while 86 securities will be added to and 39 deleted from its widely followed MSCI ACWI stock index, as part of its quarterly index review. MSCI said earlier this week it would apply a "special treatment" to Egyptian securities listed in its indexes following investor feedback about low FX liquidity in the country, meaning it would not "implement any changes as part of ...
MSCI kicks two Adani cos from indexes; no changes to Egypt stocks, others
MSCI kicks two Adani cos from indexes; no changes to Egypt stocks, others
Source: Reuters
12/05/2023 9:32:21 AM
Adani Green Energy announces FY23 results reporting EBITDA of Rs 5,538 cr up by 57% YoY Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group announced financial results for the quarter and financial year ended March 31, 2023. The sale of energy has increased by 58 per cent YoY to 14,880 mn units in FY23 primarily backed by strong capacity addition, analytics driven O&M enabling high plant availability and deployment of latest renewable technologies. AGEL has added a massive 2,676 MW renewable capacity to its operational fleet in FY23, ...
Adani Green Energy announces FY23 results reporting EBITDA of Rs 5,538 cr up by 57% YoY
Adani Green Energy announces FY23 results reporting EBITDA of Rs 5,538 cr up by 57% YoY
Source: IANS
2/05/2023 12:16:03 PM
India`s Adani aims to raise up to $800 million for green energy projects -Bloomberg News  India's Adani Group is looking to raise up to $800 million for new green energy projects and is in talks with global banks, Bloomberg News reported on Thursday, citing people familiar with the matter. The size of the fundraise could range from about $700 million to some $800 million, the report said, adding that the plan and size were not finalized. This could be billionaire Gautam Adani-led conglomerate's biggest borrowing since a short-seller report sparked a share rout ...
India`s Adani aims to raise up to $800 million for green energy projects -Bloomberg News
India`s Adani aims to raise up to $800 million for green energy projects -Bloomberg News
Source: Reuters
27/04/2023 12:55:46 PM
India`s Adani Ports starts $130 million buyback of debt securities India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Monday it has started a buyback programme of certain debt securities to partly prepay near-term loans due in 2024. Adani Ports said in an exchange filing that it has floated a tender of up to $130 million in outstanding debt, as it tries to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report. Led by billionaire...
India`s Adani Ports starts $130 million buyback of debt securities
India`s Adani Ports starts $130 million buyback of debt securities
Source: Reuters
24/04/2023 10:01:37 AM
Adani Enterprises rises on incorporating Wholly Owned Subsidiary Adani Enterprises is currently trading at Rs. 1834.85, up by 32.55 points or 1.81% from its previous closing of Rs. 1802.30 on the BSE. The scrip opened at Rs. 1810.10 and has touched a high and low of Rs. 1858.45 and Rs. 1796.90 respectively. So far 77048 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023. Last one week high and low of the scri...
Adani Enterprises rises on incorporating Wholly Owned Subsidiary
Adani Enterprises rises on incorporating Wholly Owned Subsidiary
Source: Accord Fintech
12/04/2023 10:07:29 AM
India`s Adani JV in talks for first dollar loan since Hindenburg report A joint venture of India's Adani group is in talks with about half a dozen banks for a loan of about $220 million, which will be its first since short-seller Hindenburg released a damaging report on it this year, Bloomberg News reported on Tuesday. Data centre provider AdaniConneX, a joint venture with Virginia-based EdgeConneX, will use the money for capital expenditure, with a five year tenor under discussion, the news agency reported citing people familiar with the matter. The loan ...
India`s Adani JV in talks for first dollar loan since Hindenburg report
India`s Adani JV in talks for first dollar loan since Hindenburg report
Source: Reuters
4/04/2023 12:21:45 PM
Adani Ports acquires Karaikal Port, to infuse Rs 1,485cr to pay creditors  The Adani group gained a further foothold in the port sector on the eastern coast by acquiring the all-weather deep water Karaikal Port owner Karaikal Port Private Ltd. The Karaikal Port was acquired by Adani Ports and Special Economic Zone Limited (APSEZ) by submitting a resolution plan which was approved by the Committee of Creditors of the former and by the National Company Law Tribunal, Chennai Bench, Adani Ports said. As per the Resolution Plan, APSEZ will infuse Rs 1,485 cro...
Adani Ports acquires Karaikal Port, to infuse Rs 1,485cr to pay creditors
Adani Ports acquires Karaikal Port, to infuse Rs 1,485cr to pay creditors
Source: IANS
2/04/2023 10:11:02 AM
Key Stock Ideas : JSW Energy, SEBI, HFCL , Adani Group - ARETE Securities JSW Energy Acquires 1,753 MW Green Assets Of Mytrah Energy (India) For Over Rs 10,000 Crore: JSW Energy on Wednesday said it has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy (India) Pvt. for over Rs 10,000 crore. "The transaction values the Mytrah Energy portfolio at an enterprise valuation of approximately Rs 10,150 crore after adjusting for net current assets and other adjustments under the share purchase agreements," JSW Energy said in a ...
Key Stock Ideas : JSW Energy, SEBI, HFCL , Adani Group - ARETE Securities
Key Stock Ideas : JSW Energy, SEBI, HFCL , Adani Group - ARETE Securities
Source: ARETE Securities
31/03/2023 9:26:56 AM
Torrent Investments unlikely to participate in 2nd auction for Reliance Capital Torrent Investments has reportedly informed lenders of Reliance Capital that it is unwilling to participate in the auction to sell the financial services company. This is likely to hurt the process to maximise returns from the sale because only the Hinduja Group may be left in the fray. Earlier, while opposing the extension of the auction, in a letter to RBI Deputy Governor M. Rajeshwar Rao, Torrent Investments had sought directions to Nageswara Rao Y, administrator of Reliance Capital....
Torrent Investments unlikely to participate in 2nd auction for Reliance Capital
Torrent Investments unlikely to participate in 2nd auction for Reliance Capital
Source: IANS
25/03/2023 4:59:51 PM
Adani Enterprises surges as its Group repays loans of $2.65 billion to complete prepayment programme Adani Enterprises is currently trading at Rs. 1925.10, up by 28.65 points or 1.51% from its previous closing of Rs. 1896.45 on the BSE. The scrip opened at Rs. 1902.00 and has touched a high and low of Rs. 1985.00 and Rs. 1902.00 respectively. So far 529274 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023. Last one week high and low of the scr...
Adani Enterprises surges as its Group repays loans of $2.65 billion to complete prepayment programme
Adani Enterprises surges as its Group repays loans of $2.65 billion to complete prepayment programme
Source: Accord Fintech
13/03/2023 2:33:02 PM
Key Stock Ideas: GQC, Adani Group, Mahindra and Mahidra, Godrej Industries - ARETE Securities GQC may pick up stake in adani cements business: The Adani Group is likely to make an announcement early this week on selling a stake in its cement business, with Australia-listed and Florida-based investment firm GQG Partners being one of the probable buyers, the Hindu businessline reported on March 12 citing sources.The report also suggested that more fundraising — somewhere in the region of $1.7 billion — will take place before the end of March. It is understood to be in tal...
Key Stock Ideas: GQC, Adani Group, Mahindra and Mahidra, Godrej Industries - ARETE Securities
Key Stock Ideas: GQC, Adani Group, Mahindra and Mahidra, Godrej Industries - ARETE Securities
Source: ARETE Securities Ltd
13/03/2023 9:44:06 AM
Adani fully prepays share backed promoter financing, increases equity in Ambuja Financing In continuation of its promoters' commitment to repay the promoter leverage, the Adani Group has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before the committed timeline of March 31, a statement said. In addition, promoters have also prepaid $500 million facility taken for Ambuja acquisition financing. This is in line with the promoters' commitment to increase equity contribution and promoters have now infused $2.6 billion o...
Adani fully prepays share backed promoter financing, increases equity in Ambuja Financing
Adani fully prepays share backed promoter financing, increases equity in Ambuja Financing
Source: IANS
13/03/2023 9:02:48 AM
Adani Group prepays debt worth Rs 7,374 crore The Adani Group on Tuesday said debts, backed by the shares of listed companies, have been prepaid to the tune of Rs 7,374 crore (approx $902 million). The embattled group said the debts were paid ahead of the latest maturity in April 2025. The group said with the repayment to various international banks and Indian financial institutions, the following Adani listed company shares shall be released - 155 million shares of Adani Ports & Special Economic Zone Ltd, representing 11.8 per...
Adani Group prepays debt worth Rs 7,374 crore
Adani Group prepays debt worth Rs 7,374 crore
Source: IANS
8/03/2023 9:47:39 AM
India's Adani Group pre-pays over $900 million worth share-backed financing Embattled Indian conglomerate Adani said on Tuesday it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as part of its promoters' commitment to cut overall leverage backed by shares of the Group's listed companies. The billionaire Gautam Adani-led Adani Group has been looking to ease concerns about its credit profile after a U.S.-based short seller noted high debt and alleged improper use of offshore tax havens and stock manipulation, which Adani denie...
India's Adani Group pre-pays over $900 million worth share-backed financing
India's Adani Group pre-pays over $900 million worth share-backed financing
Source: IANS
7/03/2023 2:04:22 PM
GQG founder Jain to meet Australian investors after $1.9 billion Adani investment GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. A January report by U.S based Hindenburg Research alleged stock manipulation and im...
GQG founder Jain to meet Australian investors after $1.9 billion Adani investment
GQG founder Jain to meet Australian investors after $1.9 billion Adani investment
Source: IANS
7/03/2023 10:50:27 AM
Adani Enterprises trades jubilantly after its arm emerges as preferred bidder for Ballada Bauxite Block Adani Enterprises is currently trading at Rs. 1828.15, up by 221.45 points or 13.78% from its previous closing of Rs. 1606.70 on the BSE. The scrip opened at Rs. 1699.00 and has touched a high and low of Rs. 1839.40 and Rs. 1690.35 respectively. So far 777347 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4189.55 on 21-Dec-2022 and a 52 week low of Rs. 1017.10 on 03-Feb-2023. Last one week high and low of the s...
Adani Enterprises trades jubilantly after its arm emerges as preferred bidder for Ballada Bauxite Block
Adani Enterprises trades jubilantly after its arm emerges as preferred bidder for Ballada Bauxite Block
Source: Accord Fintech
3/03/2023 2:07:34 PM
India's Adani secures $3 billion credit from sovereign wealth fund India's Adani Group has told creditors it has secured a $3 billion loan from a sovereign wealth fund, two sources with knowledge of the matter said, as the embattled conglomerate seeks to ease debt concerns after a short-seller attack. The credit line from the sovereign wealth fund could be increased to $5 billion, the sources said, citing a memo that was circulated to participants as highlights of a three-day investor roadshow that ended on Wednesday. The identity of the sovereign ...
India's Adani secures $3 billion credit from sovereign wealth fund
India's Adani secures $3 billion credit from sovereign wealth fund
Source: IANS
1/03/2023 5:25:34 PM
India's financial sector is robust & well-governed, assure senior leaders & industry captains The Adani Group is a portfolio of businesses with strong fundamentals and robust assets. Over the years, it has consistently reported excellent financial and operational performance. Senior leaders and captains of the industry have come forward to assure the country that India's financial sector is robust and well-governed. They have cautioned investors against believing those who question India's ability to govern itself. Finance Minister Nirmala Sitharaman has described India ...
India's financial sector is robust & well-governed, assure senior leaders & industry captains
India's financial sector is robust & well-governed, assure senior leaders & industry captains
Source: IANS
28/02/2023 6:11:39 PM
Data centres to attract Rs 1.5 lakh crore investments in 6 years: ICRA A data centre (DC) revolution is happening in India with about 5,000 MW capacity involving an outlay of Rs 1.50 lakh crore are likely to be added over the next six years, said ICRA. Data localisation and data explosion are paving the way for a DC revolution in India with several corporates - Indian and foreign - planning to build them. According to ICRA, Indian corporates like the Hiranandani Group, the Adani Group - in a JV with EdgeConnex, the Reliance Group, foreign investors viz Bla...
Data centres to attract Rs 1.5 lakh crore investments in 6 years: ICRA
Data centres to attract Rs 1.5 lakh crore investments in 6 years: ICRA
Source: IANS
21/02/2023 7:09:50 PM
India to see Rs 1.5 lakh cr worth investment in data centres in next 6 years  Amid the growing data localisation demand in India, the country is likely to witness 4,900-5,000 MW of capacity with an investment of Rs 1.5 lakh crore in the next six years, a report showed on Tuesday. The industry revenues are expected to increase at a CAGR of around 17-19 per cent during FY2023-FY2025, supported by an increase in capacity utilisation and ramp-up of new data centres, according to credit rating agency ICRA. To cater to the increasing demand, Indian corporates lik...
India to see Rs 1.5 lakh cr worth investment in data centres in next 6 years
India to see Rs 1.5 lakh cr worth investment in data centres in next 6 years
Source: IANS
21/02/2023 4:15:17 PM
S&P places Adani Transmission's ESG evaluation under review on potential governance issues  Credit rating agency S&P Global Ratings on Thursday placed its ESG (environment, social and governance) Evaluation for India-based Adani Transmission Ltd. (ATL) under review. This follows recent allegations of significant governance issues at the Adani group of companies. "We aim to complete our review of the ESG Evaluation in the coming months. We will assess the implications of the allegations on our ESG Evaluation," S&P Global said. On January 24, 2023, a s...
S&P places Adani Transmission's ESG evaluation under review on potential governance issues
S&P places Adani Transmission's ESG evaluation under review on potential governance issues
Source: IANS
16/02/2023 5:19:43 PM
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's  The infrastructure led investments in India will drive up the demand for cement and other building materials, said Moody's Investors Service in a report. According to Moody's, India's cement production will climb by around 6-8 per cent over fiscal years 2023 and 2024, following a 21 per cent jump for the fiscal year ended March 2022. However the industry is unlikely to enjoy unusually high profits as it did in fiscal 2022, Moody's added. The housing sector will ...
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's
Cement demand set to rise, but not unusual profitability for Indian companies: Moody's
Source: IANS
15/02/2023 12:18:18 PM
India's Adani-owned Ambuja Cements' Q3 profit jumps on lower fuel costs India's Ambuja Cements Ltd, owned by the embattled Adani Group, reported a 46% jump in quarterly profit on Tuesday as fuel costs fell and demand rose, and said its parent was considering engaging independent agencies to handle compliance. The management of Adani group entities is considering appointing independent firms to "look into the issues and compliance of applicable laws and regulations, related party transactions, internal controls etc," Ambuja said. Ambu...
India's Adani-owned Ambuja Cements' Q3 profit jumps on lower fuel costs
India's Adani-owned Ambuja Cements' Q3 profit jumps on lower fuel costs
Source: Reuters
7/02/2023 4:58:36 PM
India's Adani Ports says Q3 profit drops; to cut capex, repay debt next year  Adani Ports and Special Economic Zone Ltd, part of the embattled Adani Group, posted a lower quarterly profit on Tuesday as forex losses soared, and said it would pay back about 13% of its outstanding debt next fiscal and halve its capital expenses. The company, India's largest private port operator, is one of several Adani group companies caught in the eye of a storm since Jan. 24 when U.S.-based short-seller Hindenburg Research raised concerns on the conglomerate's debt lev...
India's Adani Ports says Q3 profit drops; to cut capex, repay debt next year
India's Adani Ports says Q3 profit drops; to cut capex, repay debt next year
Source: Reuters
7/02/2023 2:47:36 PM
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating The exposure of Indian banks to the embattled Adani Group is "insufficient in itself" to present a substantial risk to the credit profiles of these lenders, Fitch Ratings said in a note on Tuesday. Investors have been worried about various banks' exposure to the group ever since late January when U.S.-based short-seller Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate. The group has rejected the criticism and denied an...
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating
Source: Reuters
7/02/2023 11:31:21 AM
India's banking sector is resilient, stable: RBI The Reserve Bank of India (RBI) has said India's banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders amid concerns over banks' exposure to the embattled Adani Group. Talking about private reports expressing concern about the exposure of Indian banks to a business conglomerate, RBI said that it is constantly monitoring the banking sector. However, the RBI did not name the Adani Group. As per the current assessment, the RBI said, the b...
India's banking sector is resilient, stable: RBI
India's banking sector is resilient, stable: RBI
Source: Accord Fintech
6/02/2023 10:51:22 AM
FPI selling in Indian stock hits 7-month high on rich valuations, Adani rout BENGALURU- Foreign portfolio investors (FPIs) offloaded Indian equities worth 288.52 billion rupees ($3.51 billion) in January, the most since June, data from National Securities Depository Ltd. showed.   FPIs' selloff in Indian shares rises to most in 7 months https://www.reuters.com/graphics/FPI-JAN/JAN-FPI/zdvxdnqrkvx/chart.png   The selling coincided with a slide in equity benchmarks, with Nifty 50 falling 2.45% in the first month of 2023. Analysts cited multi...
FPI selling in Indian stock hits 7-month high on rich valuations, Adani rout
FPI selling in Indian stock hits 7-month high on rich valuations, Adani rout
Source: Reuters
6/02/2023 10:08:44 AM
Mutual funds have low exposure to Adani companies Mutual funds have low exposure to listed Adani Group companies, whose shares have dropped since publication of a report into the group by Hindenburg Research on Jan. 24. On Wednesday, Adani Group stocks extended their losses since the appearance of the report to $72 billion. Hindenburg criticised the conglomerate for improper use of offshore tax havens and flagged concerns about high debt. In the same period, Indian equity mutual funds have on average lost 1.6% of their net asset values...
Mutual funds have low exposure to Adani companies
Mutual funds have low exposure to Adani companies
Source: Reuters
1/02/2023 3:59:23 PM
Importers, custodial banks pull rupee down; Asian peers inch up  The Indian rupee, unlike its Asian peers, declined against the U.S. currency on Monday on dollar demand from foreign banks and importers, according to traders. The rupee was trading at 81.6650 at 10:40 a.m. IST, down from 81.5225 in the previous session. Other Asian currencies advanced, led by the onshore Chinese yuan. The onshore yuan, resuming trading after a week, climbed 0.7% to near 6.75 to the dollar. The rupee's listless move despite the Asian cues is not a major sur...
Importers, custodial banks pull rupee down; Asian peers inch up
Importers, custodial banks pull rupee down; Asian peers inch up
Source: Reuters
30/01/2023 9:03:27 AM
Gulf investors bid for India's Adani Enterprises' $2.5 billion FPO Gulf investors International Holding Co PJSC and sovereign fund Abu Dhabi Investment Authority are among the bidders for Indian billionaire Gautam Adani-led Adani Enterprises' 200 billion rupees ($2.45 billion) follow-on sale of shares that began on Wednesday, Bloomberg News reported, citing people familiar with the matter. Mubadala Investment Co PJSC and BNP Paribas SA have also bid for shares, the report said, adding that the anchor book was oversubscribed about two times. Adani E...
Gulf investors bid for India's Adani Enterprises' $2.5 billion FPO
Gulf investors bid for India's Adani Enterprises' $2.5 billion FPO
Source: Reuters
25/01/2023 1:33:58 PM
India may be the primary bright spot among several large economies: Gautam Adani Adani Group Chairman Gautam Adani has said that India is advantageously positioned away from frozen slippery slopes and may be the primary bright spot among several large economies. In his remarks at the WEF event in Davos, Adani said: "Our multi-vector, non-partisan approach has ensured that we are well-respected and have become one of the leading voices batting for the emerging economies. The growing prominence was very visible during the forum, with widespread participation by Indi...
India may be the primary bright spot among several large economies: Gautam Adani
India may be the primary bright spot among several large economies: Gautam Adani
Source: IANS
21/01/2023 10:21:04 AM