Congress accuses Adani Group of having links with Chinese firm
NEW DELHI: The Congress on Thursday accused the Adani Group of having business links with a Chinese company in all its infrastructure projects in roads, railways, ports and airport sectors, saying it posed a threat to national security. The remarks prompted Law Minister Kiren Rijiju to hit back at the opposition party. Responding to a […]
Adani group seeks to sell stake in Ambuja Cements for $450 million
NEW DELHI: Gautam Adani is seeking to sell a stake in Ambuja Cements for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4 per cent to 5 per cent in Ambuja Cements, his cement business, the […]
Congress accuses Narendra Modi government of ‘favouritism’ in small arms deal with Adani Group
NEW DELHI: The Congress on Thursday accused the Narendra Modi government of indulging in “blatant favouristism” and giving the Adani group “undue advantage” in major small arms contracts for the armed forces. Posing a set of three questions to Prime Minister Narendra Modi as part of the party’s “Hum Adani ke Hain Kaun” series, Congress […]
Gautam Adani isn’t the only Indian tycoon in trouble. Look at Vedanta
By Andy Mukherjee | Bloomberg NEW DELHI: Highly leveraged Indian tycoons are having a rough time. Gautam Adani’s $236 billion infrastructure empire has shrunk by more than three-fifths in a month. But while his relentless rise and spectacular fall hog headlines, a smaller storm may be brewing for another well-known magnate. Anil Agarwal’s once-London-listed Vedanta […]
PM Narendra Modi nationalise all assets of Adani Group and then auction it for sale: Subramanian Swamy
CHENNAI: Former Union minister and senior BJP leader Subramanian Swamy has said he wants the Centre to nationalise the assets of Adani Group, which has faced scrutiny after its stocks tumbled following a report over its financial deals and a ruckus was created in Parliament by opposition parties over it. In an interview with PTI […]
Ahead of maturity in September 2024, Adani Group to pre-pay $1.1 billion
NEW DELHI: Adani Group on Monday said that the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. “This is in continuation of […]
‘Hum Adani Ke Hain Kaun’: Congress launches fresh attack on Narendra Modi
NEW DELHI: The Congress on Sunday stepped up its attack on the Centre over allegations against the Adani group, alleging that the Modi government’s “loud silence” over the issue “smacks of collusion”. Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent […]
Adani group entity operating Guwahati airport gets aerodrome licence
GUWAHATI: The Guwahati International Airport Ltd, the Adani group entity that operates the LGBI Airport, here, has been granted aerodrome licence by the DGCA for complete management of the airport, an official statement said on Saturday. The licence was granted by the Directorate General of Civil Aviation (DGCA) on Friday, the Guwahati International Airport Ltd […]
Odisha destined to emerge trillion-dollar economy: Naveen Patnaik woos investors
BHUBANESWAR: Claiming that Odisha is destined to become a trillion-dollar economy in the near future, Chief Minister Naveen Patnaik on Thursday assured business leaders of all support in launching their projects in the state. Patnaik said this while addressing the plenary session of the third edition of the Make In Odisha’ conclave, the state’s business […]
Adani Group bags Dharavi redevelop project with a Rs 5,069 crore bid
NEW DELHI: The Adani Group has emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project, a top official said on Tuesday. The group has put in a Rs 5,069 crore bid for the redevelopment of one of the largest slum sprawls in the world, outbidding DLF, which had quoted Rs 2,025 crore, chief […]
Adani group to invest $150 billion in pursuit of $1 trillion valuation
NEW DELHI: Richest Asian Gautam Adani’s group will invest over USD 150 billion across businesses ranging from green energy to data centres to airports and healthcare as it chases the dream to join the elite global club of companies with USD 1 trillion valuations. On October 10, Adani Group Chief Financial Officer Jugeshinder ‘Robbie’ Singh […]
Rajasthan government hasn’t given any preferential treatment to Adani: Rahul Gandhi
TURUVEKERE: A day after Gautam Adani pledged huge investments in Rajasthan, Rahul Gandhi said on Saturday the Congress government in the state has not given any preferential treatment to the industrialist and asserted that he is not against corporates but monopolies. Addressing a press conference here, Gandhi also said if the Rajasthan government gives business […]
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 […]