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.
Adani's Mundra Port handles the largest ever container vessel to call on India
APL Raffles is one of the largest vessels in the fleet of CMA CGM. Built in 2013, this 1,76,727 DWT, 17292 TEUs capacity vessel is 397.88 metre long and 51 meter wide. This is almost equivalent to four football fields. This is another important milestone for Mundra Port. In 2021, Mundra Port became the largest container port in India, and now the port has berthed, at one of its terminals, the largest container vessel to call India.
POSCO & Adani sign MoU for integrated steel mill
The non-binding MoU signed between POSCO and Adani intends to further collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics in response to carbon reduction requirements. Both parties are examining various options to cooperate and leverage the technical, financial, and operational strengths of each company.
Green Energy: India's clean energy push propels renewable companies' stocks
Accordingly, shares of Suzlon Energy, Orient Green Power, Inox Wind, JSW Energy, Adani Green Energy, Websol Energy System, Borosil Renewables have seen a substantial rise. Earlier, Prime Minister Narendra Modi at the COP26 meet in Glasgow said India aims to increase its non-fossil energy capacity to 500 Giga Watt by 2030, besides the country wishes to fulfil 50 per cent of its energy requirements from renewable energy sources by 2030.