ADANI GROUP
Adani and PGTI to launch invitational golf championship
The Adani Group will enter Indian professional golf with the launch of the Adani Invitational Golf Championship 2025, in collaboration with the Professional Golf Tour of India (PGTI). The tournament offers a Rs 1.5 crore prize and aims to cultivate Indian global champions in golf, enhancing accessibility and promoting participation in the sport.
Adani Green Energy shares in focus after rights petitions against Sri Lanka projects withdrawn
Adani Green Energy shares: Five fundamental rights petitions filed against wind energy projects in northeastern Sri Lanka were withdrawn. The petitions were retracted after the Attorney General filed a motion in response to Adani Green Energy's decision to cancel its wind energy projects and notify the Board of Investment.
Race for JAL heats up: Adani Group, GMR, Vedanta among bidders in ?17,300 crore insolvency case
Several major business groups including JSW, Dalmia Bharat, Vedanta, and others have expressed interest in Jaiprakash Associates Ltd. The company is under court-monitored insolvency proceedings. Assets up for grabs include cement plants, a Formula One circuit, and more. The final deadline for submitting expressions of interest is March 25.
Rights petitions against Adani Green Energy projects in Sri Lanka withdrawn
Fundamental rights petitions against the Adani Green Energy projects in northeastern Sri Lanka have been withdrawn following the company's decision to cancel the wind energy projects. The Adani Group announced its withdrawal after the new Sri Lankan government decided to review and renegotiate project terms, aiming to lower the previously negotiated high power purchase price.
Vizhinjam Port to begin gateway container operations within four months
Kerala Port Minister V N Vasavan announced that gateway container operations at Vizhinjam International Port will begin within four months. The port, developed by Adani Ports, has already seen 215 ships and handled 4,22,846 TEU. Recent environmental clearances ensure the full completion of the port by 2028, with operations commencing soon after final approval from Prime Minister Modi.
Adani investors should push for bond buybacks: Analysts
The new facility is reportedly borrowed at a weighted life of 19 years, and now carries a funding cost of 9.2%. The loan it refinanced was taken in 2021 to develop wind-solar hybrid projects.
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Relief for Adani brothers in alleged Rs 388 crore stock market manipulation case as Bombay HC overturns 5-year-old ruling
The Bombay High Court has overturned a prior ruling against Gautam and Rajesh Adani related to a Rs 388 crore stock market manipulation case. Justice RN Ladha asserted that the revisional court overstepped its jurisdiction, emphasizing that such matters fall under Sebi's regulatory purview.
Goafest 2025 to be held from 21st to 23rd May
The Advertising Agencies Association of India (AAAI) and The Advertising Club announced Goafest’s 18th edition, set for May 2025 in Goa. With the new 'Goafest Village' concept and the theme 'Ignite ____', industry leaders will discuss innovation and creativity. Featuring the ABBY Awards, the festival aims to elevate the advertising and media sector.
BCCI clears Torrent Group's 67% stake acquisition in Gujarat Titans from CVC
Torrent Group has acquired a 67% stake in Indian Premier League franchise Gujarat Titans from CVC Capital Partners, gaining majority ownership. The acquisition, valued at approximately ?5,025 crore, is expected to enhance team operations, fan engagement, and commercial growth. Torrent Group aims to expand its sports strategy across various regions.
5% of population, yet over 50% of Indian billionaires: Stock company founder highlights India's most successful business community
108 out of 191 billionaires in India come from Gujarat. Gujarat contributes significantly to India's GDP and exports, driven by a strong entrepreneurial culture. Known for taking risks and valuing business over jobs, Gujaratis dominate various industries worldwide. Their success is attributed to generational wisdom, business acumen, and extensive networks.
Bombay HC discharges Gautam Adani and Rajesh Adani in alleged Rs 388 cr market regulation violation case
The Bombay High Court has discharged Gautam Adani and Rajesh Adani from charges related to market regulation violations involving Rs 388 crore. This judgment comes after the Adanis challenged a sessions court order from 2019 that reinstated the charges, which were initially dismissed by a magistrate's court in 2014.
Adani says Navi Mumbai Intl Airport to open in June
The Navi Mumbai International Airport construction, led by the Adani Group, is delayed by two months, with anticipated domestic operations starting in May 2025. Meanwhile, the Noida International Airport in Uttar Pradesh, built by Zurich Airport International, is also running six months behind schedule, expecting its inauguration in the June quarter.
Navi Mumbai airport set to be inaugurated in June, Gautam Adani confirms
Adani Group Chairman Gautam Adani announced that the new Navi Mumbai International Airport will be inaugurated in June. Initially scheduled for April 17, the airport aims to reduce congestion at Mumbai's existing airport and accommodate the growing demand for air travel.
Adani Green Energy aims to be water-positive in all operational locations by 2025-26
Adani Green Energy aims to achieve net water positivity at all its operational sites by 2025-26. The company has already made significant strides by reducing freshwater consumption and implementing various water conservation initiatives. By 2024, it avoided 347,310 kL of water use through robotic cleaning of solar panels.
India to deliver US summons to Adani for alleged bribery
The Indian government has requested a local court to deliver a U.S. SEC summons to billionaire Gautam Adani regarding allegations of securities fraud and bribery. The summons requires Adani to appear in a New York court, and if served, he must comply. Adani Group denies the allegations and intends to seek legal recourse.
IPO-bound edtech unicorn Physicswallah appoints three independent directors to board
Noida-based Physicswallah has appointed former Zomato deputy CFO Nitin Savara, former RBI regional director Rachna Dikshit, and ex-bureaucrat Deepak Amitabh, who is currently engaged with the Adani Group, as independent directors.
Congress, allies flag security concerns over project near Pakistan border
Congress and its allies protested in Lok Sabha over national security concerns related to a mega mixed renewable energy project near the Pakistan border in Gujarat. They claimed the minister's response didn't address specific security protocol questions and subsequently staged a walkout.
Cong rakes up Adani-linked shell companies probe to attack govt during PM's Mauritius visit
The Congress has criticized the government for not investigating alleged money laundering activities by the Adani group, involving shell companies in Mauritius, during Prime Minister Modi's state visit to Mauritius. Jairam Ramesh called for a thorough investigation into these allegations, which have not yet reached a conclusion despite a prolonged SEBI inquiry.
Adani Group wins Rs 36,000 crore Motital Nagar redevelopment project in Mumbai
Gautam Adani's group secured the highest bid for Mumbai's Motilal Nagar redevelopment, covering 143 acres and valued at Rs 36,000 crore. This follows their previous Dharavi project. Adani Properties offered more built-up area than rival L&T. The plan includes rehabilitating thousands of residential, commercial units, and slum tenements. MHADA retains project control, ensuring a holistic redevelopment approach.
Adani Group set to redevelop 143-acre Motilal Nagar in Mumbai’s Goregaon
Adani Properties is set to redevelop Mumbai's 143-acre Motilal Nagar in partnership with MHADA. The project involves rehabilitating thousands of existing residential, commercial, and slum units over seven years, with an estimated cost of Rs 36,000 crore. It follows Adani's major Dharavi redevelopment project.
Adani's Vizhinjam port gets environment clearance for next phases: Kerala CM Pinarayi Vijayan
Vizhinjam International Seaport has received clearance from the Union Environment Ministry for its next two development phases, aiming for completion by 2028. Developed by the Adani Group, the port is India's first deep-water container transhipment and automated port. It is poised to significantly enhance India's maritime trade, reducing dependency on Colombo, Dubai, and Singapore for transshipment.
Sri Lanka 'welcomes' investment opportunities from Adani, says official
Sri Lanka welcomes investment from India's Adani Group and remains firm on negotiating the purchasing costs of power from proposed wind projects. This stance comes despite the group's involvement in legal issues in the U.S. over alleged bribery to secure solar power deals in India. Adani Group denies any wrongdoing.
Fitch assigns Negative Outlook to Adani Energy, cites US probe risks
Fitch Ratings removed Adani Energy Solutions from its 'Ratings Watch Negative' list but assigned a Negative Outlook due to ongoing US investigations. These probes could uncover governance weaknesses affecting the company’s credit profile and future funding capacity, potentially impacting its capital expenditure plans.
Fitch assigns negative outlook to Adani Energy on US probe risks
Fitch has downgraded the outlook for Adani Energy Solutions (AESL) to negative due to concerns over ongoing US investigations that might reveal governance weaknesses and affect financial stability. The outcome of the probe could impact AESL's credit profile and future access to capital markets.
Aaditya Thackeray accuses BJP govt of undermining Mumbai's economic importance
Aaditya Thackeray has accused the BJP of undermining Mumbai's economic significance by relocating projects to Gujarat and Delhi. He has demanded that Mumbai receive subsidies and incentives similar to Gujarat's GIFT City. Thackeray also criticized delays in infrastructure projects and deterioration of healthcare services in Mumbai.
SC declines to halt Dharavi Redevelopment Project
The Supreme Court has refused to halt the Dharavi Redevelopment Project. The project, given to Adani Group, is under scrutiny after Seclink Technology Corporation challenged the decision. STC is willing to increase its bid by 20% to Rs 8,640 crore. The court noted that the matter is sub judice, and Adani must maintain separate financials.
SC refuses stay on Adani's Dharavi slum redevelopment project as challenged by Dubai's Seclink
The Supreme Court of India ruled against a stay on the Dharavi redevelopment project awarded to the Adani Group, despite a challenge by Seclink Technologies Corp. The court requested Seclink's confirmation that its bid was higher, but emphasized adherence to all agreed obligations. The project aims to transform 296 acres of Dharavi, a densely populated area.
Dubai-based IHC’s arm sells stake in Adani Enterprises
The stake has been acquired by Envestcom Holding RSC. Envestcom holds stakes in other Adani companies such as Adani Energy Solutions and Adani Total Gas. As of December 2024, Envestcom Holding held 55,200,000 shares in Adani Energy Solutions, representing a 4.60% stake and 54,593,600 shares in Adani Total Gas, representing a 4.964% in the company.
HC permits Adani Group firm to cut mangroves for jetty project
The Bombay High Court permits Adani Cementation Limited to cut 158 mangrove trees for a jetty project in Maharashtra's Raigad district, emphasizing adherence to regulatory conditions. The project aims to balance commercial interests with environmental conservation, reducing carbon emissions and road congestion by shifting freight transport to waterways.
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