The Adani Group is under scrutiny following allegations of selling low-quality coal as high-value fuel to an Indian state power utility. The accusations, based on documents reviewed by the Financial Times (FT) and secured by the Organized Crime and Corruption Reporting Project (OCCRP), suggest a significant coal scam that could…
The year 2023 has been marked by significant shifts in market capitalization for major conglomerates. The Tata Group, a stalwart in the industry, has emerged as a beacon of success, witnessing an impressive over 30% rise in its market capitalization on a year-to-date basis until December 26. Tata Group’s Remarkable…
In a strategic move to fuel its ambitious growth plans, Adani Green Energy, a prominent player in India’s renewable energy sector, has announced its intention to raise ₹9,350 crore ($1.125 billion) through the issuance of equity warrants on a preferential basis to its promoter group. The decision, revealed in an…
Adani Ports and Special Economic Zone (APSEZ) is set to strengthen its collaboration with the Mediterranean Shipping Company (MSC) as Terminal Investment Ltd (TiL), MSC’s container terminal operating arm, acquires a 49% stake in Adani Ennore Container Terminal (AECTPL) for Rs 247 crore. This move reflects a deepening alliance between…
Adani Total Gas has been experiencing a significant downturn, marking a 14.49% decline in just two trading sessions, with the stock hitting a lower circuit at Rs.1,001.95. Despite this sudden fall, the stock had surged remarkably, rising approximately 85% in the past month. The ascent has been met with recent…
Mukesh Ambani and Gautam Adani, prominent industrialists, are a part of the 7,000 individuals invited to the consecration ceremony of the Ram temple in Ayodhya which is set to take place on January 22, 2024, according to a report by news agency PTI. Notable invitees also include cricket icons Sachin…
Adani Group’s market capitalization surged by almost Rs.73,000 crore on 4th Dec, driven by investor enthusiasm following BJP’s electoral victories in three states, infusing confidence in continued political stability at the Centre. The Gautam Adani-led conglomerate’s market value approached the Rs.12-trillion milestone, marking substantial gains in the past week. An…
In a significant development, the U.S. International Development Finance Corporation (DFC) has announced a $553 million loan to Colombo West International Terminal Private Limited (CWIT), a project partially owned by the Adani Group. The funding aims to support the construction and operation of the West Container Terminal at the Port…
The Adani Group has entered into a $750 million worth 500-megawatt wind power project in Sri Lanka. Since the company secured 553 million in debt financing from the U.S. International Development Finance Corp. for the Colombo West International Terminal, the group intends to commission the wind project in the north-western…
Trinamool Congress MP Mahua Moitra recently claimed in an exclusive interview with India Today that she had been approached twice by Gautam Adani, the Chairperson of the Adani Group, over the past three years, through two Lok Sabha MPs. Moitra alleged that these approaches were for the purpose of striking…