Adani Group
Adani Wilmar lists steady; rises over 10% in afternoon trade
The company's initial public offerings were subscribed more than 17 times. The issue size was Rs 3,600 crore with a price band of Rs 218-230 per share. The shares opened at Rs 227, down 1.3 percent from their issue price. However, later in the day it managed to rise sharply. At 1.39 p.m, the shares were at Rs 261, up 13.6 percent. Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is among the largest FMCG companies in India.
Adani Transmission sees strong growth through its last mile connectivity
Adani Transmission is the transmission and distribution arm of the Adani Group. "Acquisition has been our very formidable growth paradigm in the transmission side and, we of course acquired the distribution business in Mumbai... (and)... the distribution business in Mundra. So, we will continue to look at various holdings of the private sector in the distribution as possible growth opportunities," Anil Sardana, the Chief Executive Officer of the company said.
Gautam Adani surpasses Mukesh Ambani to become Asia’s richest person
Indian billionaire Gautam Adani of the Adani Group on Monday overtook Mukesh Ambani as Asia’s richest man with a net worth of USD88.5 billion, as per the Bloomberg Billionaires Index. Gautam Adani, 59, added around USD12 billion to his net worth this year thereby overtaking Mukesh Ambani, whose net worth currently stands at USD87.9 billion.
SC accepts settlement between Adani Power, Gujarat Urja Vikas Nigam in Rs 11K crore PPA dispute
A five-judge bench headed by Chief Justice N.V. Ramana said: "In view of settlement deed, we dispose of the curative petition, by saying that both parties will be governed by the compromise". In a settlement, the private firm waived off its nearly Rs 11,000 crore dues with the state PSU in a dispute over termination of a February 2007, power purchase agreement for supplying 1000 MW electricity. The private firm has agreed to keep supplying power to the state PSU.
Adani Group forms new subsidiary to set up data centre
Reportedly, it is one of the half a dozen cities that the group has identified to set up data centres initially. "...we would like to inform that AdaniConnex Private Limited, Joint Venture of the Company with EdgeConnex Europe BV has incorporated a WOS namely, Mumbai Data Center Limited ('MDCL'), on 4th February...," the filing said. The new arm will undertake business to develop, operate, maintain, deal with data centers, ITES, cloud, providing services related thereto, it added.
Adani Transmission reports cash profit of Rs 2,276 cr in 9MFY22
The company posted a double-digit growth of 15.8 per cent in consolidated revenue in 9MFY22 and 14.5 per cent in Q3FY22. 9MFY22 EBITDA of Rs 4,111 cr grew 5.7 per cent yoy and Q3FY22 EBITDA of Rs 1,325 cr is up 5.8 per cent yoy on account of higher revenue in both transmission and distribution segments.
Adani Total Gas reports 9M FY22 Results
CNG volume has increased by 71 per cent on account of addition of new CNG stations and strong recovery of economic activity. PNG volume has increased by 26 per cent due to addition of new customers and recovery of economic activity. Revenue increased by 83 per cent on account of higher volume coupled with increase in sales price. EBITDA increased by 28 per cent on account of strong operational performance.
Adani Ports' net profits decline 6% in Q3FY22, revenue up 1%
In the same quarter last fiscal, the net profit was Rs 1,577 crore. The company's consolidated revenue during the quarter grew one per cent to Rs 3,797 crore, as compared to Rs 3,746 crore in the same period last fiscal. EBITDA fell two per cent during the quarter to Rs 2,431 crore. During Q3FY22, cargo volumes were subdued due to higher commodity prices and disruptions in the supply chain.
Adani Wilmar's IPO issue subscribed over 17 times on final day
The company is known for its wide range of offerings comprising soya bean oil, sunflower oil, mustard oil, rice bran oil, wheat flour, rice, pulses, sugar among others. The company has 22 plants in India, which are strategically located across 10 states, comprising 10 crushing units and 19 refineries. The issue size was Rs 3,600 crore with a price band of Rs 218-230 per share.
Adani Total Gas to expand network in 14 new geographies, invest Rs 12K cr
The company won the licences in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board. With an increasing basket of products and services in the clean energy sector, the city gas distribution company will invest Rs 12,000 crore in these additional locations. With the fresh investment, the company's total commitment in the clean energy sector will go up to Rs 20,000 crore.
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