Tag Archives: Adani Group

The Adani Group has announced plans to invest ₹20,000 crore to set up an ultra-super critical thermal power plant in Bihar, a project that is expected to significantly boost the state’s economy and create thousands of jobs. Pranav Adani, Director of Adani Enterprises, made the announcement on Friday at the Bihar Business Connect event in Patna, sharing the conglomerate’s ambitious investment roadmap.

The Navi Mumbai International Airport (NMIAL) marked a significant milestone on Friday with its first successful trial landing, paving the way for its expected operational launch early next year. An Indian Air Force C295 multi-role tactical airlifter made the inaugural landing on the airport's south runway, a moment celebrated with a water salute from the fire brigade and a spectacular flypast by Sukhoi 30 jets.

The Maharashtra government has officially approved the acquisition of approximately 256 acres of ecologically sensitive salt-pan land from the Centre to provide housing for residents in Dharavi who do not qualify for homes under the Adani Group-led Dharavi Redevelopment Project. This decision was made on Monday, following the Centre's consent for the transfer of three salt-pan parcels located in Kanjurmarg, Bhandup, and Mulund. The transfer was sanctioned on September 2 after a request from the state government.

Adani Group has emerged victorious in a significant bid to supply 6,600 MW of electricity to Maharashtra State Electricity Distribution Company Limited (MSEDCL), marking a major achievement for the company. The contract, awarded at a rate of ₹4.08 per unit, is nearly ₹1 lower than the current procurement cost of electricity in the state.

In a significant shift in the wealth landscape of Asia, billionaire Gautam Adani has once again emerged as the richest person in the continent, surpassing Mukesh Ambani, the head of Reliance Industries. Adani's rise to the top spot in Asia's wealth hierarchy comes on the heels of a surge in stock prices across companies in his conglomerate, as reported by the Bloomberg Billionaires Index.

In a significant development in the fintech industry, Gautam Adani, the chairman of the Adani Group, is reportedly in discussions to acquire a stake in One 97 Communications, the parent company of Paytm. According to a report in the Times of India, talks between Adani and Vijay Shekhar Sharma, the founder and CEO of Paytm, have been ongoing for a while, with a recent meeting held on May 28 in Ahmedabad to finalize the deal's contours.

Following a period of turbulence marked by the Hindenburg Research controversy, the Adani Group, led by billionaire Gautam Adani, is poised to embark on ambitious ventures in the realm of airport expansion and green energy initiatives across India. Recovering from the setbacks of the Hindenburg saga, the conglomerate is now eyeing a substantial capital infusion of $2.6 billion from prominent sovereign funds in the Middle East, as reported by Business Standard.

Industrialist Gautam Adani has once again achieved the remarkable feat of surpassing the $100 billion mark in personal wealth, a significant milestone coming just a year after his conglomerate, the Adani Group, faced a severe downturn in share prices following allegations of market manipulation by Hindenburg Research. Today, Gautam Adani stands as the 12th richest person globally, boasting a net worth of $101 billion, according to the Bloomberg Billionaires Index.

Adani Total Gas Ltd. experiences an 85% stock valuation decline, confirming the earlier concerns raised by US short seller Hindenburg Research. Despite recent investments in other Adani companies, the city-gas distributor faces headwinds due to New Delhi's EV conversion policy.

The Adani Group has alleged that foreign entities, short-sellers, and certain sections of the media, both domestic and international, are launching attacks to undermine the group's market value. They claim these entities are executing a well-coordinated campaign, including strategically timed media reports, and recently cited a Financial Times story as an example.