Adani

Gas Adani Total Private Ltd will receive its first liquefied natural gas (LNG) cargo at the Dhamra terminal on India's east coast in April and expects to start commercial operations 30 to 45 days after receiving the shipment, the Adani Group told Reuters. The start-up of the 5 million tonnes per annum (mtpa) LNG import terminal, delayed from September 2021, is crucial to Prime Minister Narendra Modi's plan to boost natural gas use in the country's energy mix to 15% from about 6% currently. The Adani Group's first LNG import terminal will boost gas use in India's east, where the Dhamra project is only the second import terminal. The country's five other import terminals are on its western coast. Adani Total, in which French energy giant TotalEnergies SE has a 50% stake, said the Dhamra terminal expected safety checks and testing to be completed in February, adding that all key regulatory approvals have been achieved. "The port infrastructure at Dhamra is ready to receive … [Read more...] about Adani Total to start operations at Indian LNG terminal by mid-June

Jo Johnson, U.K. transport minister, departs following a weekly meeting of cabinet ministers at number 10 Downing Street in London, U.K., on Tuesday, Sept. 4, 2018. Both Prime Minister Theresa May and opposition Labour Party leader Jeremy Corbyn found themselves under fire as British lawmakers prepared to return to work this week. Photographer: Chris J. Ratcliffe/Bloomberg Jo Johnson, a former Conservative minister and brother of former prime minister Boris Johnson, has stepped down as director of Elara Capital Plc, a UK firm named in a short seller report about the Adani group. Johnson resigned from the role this week, according to a regulatory filing. He was appointed in June 2022. Elara was named by US-based Hindenburg Research in its report raising concerns over the financial health of Adani Group. The short seller’s allegations of financial manipulation at Adani — denied by the Indian firm — have set off a stock rout across the Adani companies. Elara Capital’s website … [Read more...] about Boris Johnson’s brother Jo resigns as director of Adani-linked firm

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India (Image: Reuters) Sri Lanka's Board of Investment on Wednesday approved two wind power plants by India's Adani Green Energy Ltd with a total investment of $442 million, a statement issued by the board said. "The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, they will be added to the national grid by 2025," the statement added. Adani Green Energy is the renewable energy unit of the embattled Adani Group, whose seven listed companies have lost some $125 billion in market value after a U.S. short seller last month alleged improper use of tax havens and stock manipulation by the apples-to-airports conglomerate. The Adani Group has denied any wrongdoing. Sri Lankans have been struggling with rolling powers cuts for over a year as the country struggled to generate sufficient amounts of thermal and coal power, which has … [Read more...] about Sri Lanka investment board approves $442 million Adani Green wind power plants

Signage of Adani Group in Mumbai, India, on Wednesday, on Feb. 15, 2023. Photographer: Indranil Aditya/Bloomberg Sri Lanka's investment promotion body has approved two renewable energy projects of India's Adani group to be set up in the north and eastern regions of the island nation at a total investment of USD 442 million. The wind power plant in Mannar will operate at a capacity of 250 MW (megawatt) while the wind power plant in Pooneryn will operate at a capacity of 100 MW. "The Board of Investment of Sri Lanka has issued a letter of approval to India's Adani Green Energy Limited, for the two wind power plants to be set up in Mannar and Pooneryn at a total investment of USD 442 million," a release said on Thursday. The two wind power plants of 350 MW are scheduled to be commissioned in two years and they will be added to the national grid by 2025. The new project will generate 1500-2000 new employment opportunities. Early this week, the Adani Group … [Read more...] about Adani group investments approved by Sri Lanka

For truckers transporting cement from Adani's factories in a hilly north Indian state, a U.S. short-seller's critical research report on the giant conglomerate was a godsend they say helped them save their livelihoods. For weeks, around 7,000 truck owners and drivers in India's Himachal Pradesh resorted to protest rallies against Adani's Dec. 15 decision to shut two cement plants over a dispute on freight rates. Adani argued the plants were "unviable" at the trucking rates it wanted to slash by around half. On Monday, the Gautam Adani-led group said it had "amicably resolved" the issue with a 10-12% reduction in rates. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. The settlement comes four weeks after U.S.-based Hindenburg Research accused Adani of stock manipulation and improper use of tax havens, allegations the group called baseless. The Jan. 24 report triggered a $140 billion rout in group's … [Read more...] about Indian truckers say Hindenburg report a godsend in Adani dispute

Gautam Adani plans to sell shares to the public in at least five companies between 2026 and 2028, to help the his port-to-power conglomerate improve its debt ratios and widen the investor base. “At least five units will be ready to go to the market in the next three to five years,” Jugeshinder Singh, Adani Group chief financial officer said in an interview. He said Adani New Industries Ltd., Adani Airport Holdings Ltd., Adani Road Transport Ltd, AdaniConnex Pvt Ltd, and the group’s metals and mining units would become independent units. Singh ​said businesses such as the airport operator are consumer platforms servicing nearly 300 million customers and need to operate on their own and manage their capital requirements for further growth. He said the businesses would need to show they can clear the basic tests of independent execution, operations and capital management before a formal demerger can be implemented. “Scale is already there for the five units,” Singh said. The … [Read more...] about Gautam Adani plans to take at least five companies public

Gautam Adani. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The Follow-On Public Offering (FPO) by Adani Enterprises has managed to garner bids for 1.39 million shares against its offer size of 45.5 million shares, representing 3 percent subscription so far on January 30, the second day of the sale. Retail investors remained at the forefront, buying 4 percent of their allotted quota, followed by high networth individuals, who subscribed to 4 percent of the portion set aside for them. Qualified institutional buyers (QIB) bought 4,576 shares of the 12.8 million shares reserved for them. Days before the issue opened, on January 25, anchor investors, a part of the qualified institutional buyers had subscribed nearly Rs 6,000 crore worth of shares. The company owned by billionaire Gautam Adani has reserved 1.6 million shares … [Read more...] about Adani Enterprises FPO sees 3% subscription on second day of bidding

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × It is shaping up to be another forgettable day for Adani Group investors, with flagship Adani Enterprises shares plunging more than 11 percent on February 22, continuing its downward journey.  Adani Ports was down 6 percent in the afternoon amid market-wide selling. At the opening bell, Adani Enterprises declined sharply, opening with a bearish gap down. The open interest rose 8 percent, while rollover rates hit 71 percent, the highest they've been this year. This means more traders are taking bearish positions while those already holding the position are continuing with it to the next expiry. Bars reflect changes in OI during the day. The red bars show call option OI and the green put option OI. On the weekly expiry, Call writing was seen at 1400 strikes, while put writers were … [Read more...] about F&O Buzzer: Adani Ports, Adani Enterprises sink as bears rack up positions

Adani group The Supreme Court on February 17 rejected the government’s offer to suggest in a sealed cover the names of members and the scope of a proposed committee to examine stock market regulatory mechanisms after Adani company stocks crashed in the wake of the Hindenburg Research report on the group. The court said it will now appoint the committee, nominate its members and draw up the scope of its functioning. The apex court also reserved its orders on public interest litigations (PILs) pertaining to the impact of the Hindenburg report on the Adani Group. When the hearing began on February 17, solicitor general Tushar Mehta circulated the suggested names for the committee and the scope of its work in a sealed cover. The SG said the government’s objectives were to ensure that the truth comes out and a holistic view of the issue is taken, and to ensure that the market is not affected in this process. “We would not accept the sealed cover suggestion because we want to … [Read more...] about Adani-Hindenburg row: Supreme Court refuses sealed cover suggestions from government

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India (Image: Reuters) India's Adani Power promised to supply electricity to Bangladesh at a reduced price keeping consistent with the generation cost in the country's existing coal-fired plants. "The Adani will import the coal for its plants at the same price the Bangladeshi coal-run plants do for themselves," the mass-circulation Prothom Alo newspaper reported quoting an Adani official. It said the Indian company agreed to revise its procurement price for coal to keep the per unit power price almost equal to those of Bangladeshi coal-fired plants like the Rampal and Payra, the two joint-venture installations with India and China. "A responsible official of Adani group in Bangladesh has confirmed the development to Prothom Alo," the newspaper reported while Bangladesh officials declined to comment immediately. Bangladesh's state-run Power Development Board (PDB) … [Read more...] about Adani promised to supply power in reduced price: Report