No tax on $6.38 billion transaction with Adani Group, says Holcim CEO
NEW DELHI: Swiss building material major Holcim said its USD 6.38 billion deal with Asia’s richest man Gautam Adani’s group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India — about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake […]
POSCO, Adani Group sign pact to set up steel plant in Gujarat
NEW DELHI: Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea’s POSCO to explore business opportunities in sectors like steel, renewable energy among others. Both the entities have signed a memorandum of understanding (MoU) to this effect. In a statement, Adani Group said the investment under the MoU is estimated to be […]
AAI committees find Adani group in violation of branding, logo pacts
NEW DELHI: Three committees of the Centre-run Airports Authority of India (AAI) in January found the Adani group to be in violation of branding norms, prescribed in the concession agreements, at the airports in Ahmedabad, Mangaluru and Lucknow that the conglomerate took over last year. Consequently, the Adani group companies — which are operating these […]
Gautam Adani loses $9 billion in 3 days
By Alex Sazonov NEW DELHI: Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raising questions about some offshore investors triggered a rout in his conglomerate’s six listed stocks. The 58-year-old tycoon lost more money this week than anyone else in the world, with his personal fortune […]
Adani group stocks shed $6 billion despite rejecting reports on investors
NEW DELHI: Shares in companies controlled by billionaire Gautam Adani shed more than $6 billion on Monday despite rejecting media reports that said accounts of three investor funds that own stocks had been frozen. Adani Group flagship Adani Enterprises closed down 6.3 per cent after plunging as much as 25 per cent, its steepest fall […]
Adani Group says being targeted through false propaganda, online campaign
NEW DELHI: Billionaire Gautam Adani’s Adani Group on Saturday said it is being targeted through false propaganda and a manufactured online campaign of malicious lies about its operations and will take actions such as filing court cases to protect its interests. Without referring to any particular allegation, the Adani Group in a statement posted on […]
DHFL creditors vote in favour of Piramal’s $5 billion bid – source
MUMBAI:Creditors of India’s Dewan Housing Finance Corp have voted in favour of a 372.5 billion rupees ($5.09 billion)takeover bid submitted by the Piramal Group for the troubled “shadow” lender, a source with knowledge of their decision said on Sunday. DHFL’s creditors finished voting on Friday evening, and the source requested anonymity as the result has […]
Can improve DHFL offer, forfeit deposit of those against recoveries: Adani
NEW DELHI: Billionaire Gautam Adani’s roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money. In an email written to the administrator, who is running the […]
Adani Group partners with Italy’s Snam for energy mix transition
NEW DELHI: The Adani Group on Friday announced a strategic collaboration with Italy-based gas infrastructure company, Snam. The tie-up envisages exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility. Adani Group Chairman, Gautam Adani said: “The combination of Adani’s ability to provide […]
Adani Group to pick 74 per cent stake in Mumbai airport
NEW DELHI:Billionaire Gautam Adani’s Adani Group on Monday said it has reached an agreement to acquire GVK Group’s shareholding and control of Mumbai airport. Adani Airport Holdings has “entered into an agreement to acquire the debt of GVK Airport Developers,” Adani Enterprise said in a regulatory filing. GVK Group holds 50.50 per cent equity stake […]
Adani Group to invest Rs 5,500 crore in Uttar Pradesh’s food processing, power sectors
NEW DELHI: Adani Group will invest Rs 5,500 crore over the next five years in power transmission and food processing sectors in Uttar Pradesh, its chairman Gautam Adani said on Sunday. Speaking on the occasion of the second ground breaking ceremony that will see the launch of multiple projects by corporates, Adani said he had […]
Adani group wins bids to operate five airports for 50 years
NEW DELHI: The Adani group has won the bid to operate five out of six airports that were put for privatisation by the central government, a senior official of the Airports Authority of India (AAI) for 50 years. The AAI said in a press statement that as per-passenger fee, the Adani Group put in a […]
Adani Group launches its luxury residential project in Pune
NEW DELHI: Ahmedabad-based conglomerate Adani Group said that it has launched its luxury residential project in Pune’s Koregaon Park NX. The project named Atelier Greens, focuses on offering lifestyle beyond the carpet area, drawing inspiration from making spaces where art of living grows naturally. Nestled in the city center, yet amidst abundant greenery and open […]
Andhra Pradesh signs MoU with Adani Group
NEW DELHI: The Andhra Pradesh government has signed an ambitious memorandum of understanding with the Adani group to build data centre parks in port city Visakhapatnam with a staggering investment of Rs 70,000 crore. With this, the integrated infrastructure conglomerate will make its foray into the digital infrastructure sector. The data centre parks, which will […]