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Adani Group to nearly double FY25 capex at ₹1.3 trillion

Livemint

Livemint · 1y ago

Adani Group to nearly double FY25 capex at ₹1.3 trillion

Indian conglomerate Adani Group plans to increase its capital expenditure to INR 1.3 trillion ($17.4 billion) in FY25, nearly doubling the previous year's spending. The group aims to fund this expansion through a combination of debt and equity, including internal accruals and promoter capital. The majority of the investment will be allocated to infrastructure and utilities, particularly in the renewable energy sector. Adani is also planning to raise between $2.5 billion and $3 billion from selling shares in its group companies this fiscal year. This move comes as the Indian government encourages private sector participation in capital expenditure to support economic growth.

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Probes into Adani firms nearly over, Sebi tells SC

Livemint

Livemint · 1y ago

Probes into Adani firms nearly over, Sebi tells SC

The Securities and Exchange Board of India has concluded 22 out of 24 investigations into the Adani group, analyzing data on nearly 350 million stock trades and scrutinizing dealings in seven Adani group firms.

India's private sector capex declines to 3-year low of 11.2% in FY24

Business Today

Business Today · 5m ago

India's private sector capex declines to 3-year low of 11.2% in FY24

India's private sector capital expenditure (capex) fell to a three-year low of 11.2% in FY24, potentially dropping below 11% of GDP in FY25, according to an India Ratings report. This marks a decline from the pre-COVID average capex of 11.8% between FY16 and FY20. The overall investment rate for FY25 is projected at 31.1%, driven by slowing investments in the services and industrial sectors, as well as a moderation in household investments.

Adani may see wider impact from US setback

Livemint

Livemint · 8m ago

Adani may see wider impact from US setback

The Adani Group, an Indian conglomerate, has denied bribery charges following an indictment in the US. The US Department of Justice accused the company's founder, Gautam Adani, and other executives of bribing Indian officials to secure green power supply agreements. The US Securities and Exchange Commission also accused the Adani Group of securities fraud. Investors in Adani group companies lost ₹2.24 trillion ($29.9 billion) as shares plunged. The indictment could result in hefty fines and legal battles, potentially damaging the group's creditworthiness and access to investors. Ratings firm Moody's highlighted the negative implications this could have on the company's creditworthiness.

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Livemint

Livemint · 1y ago

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Adani Group has acquired a 50.5% stake in news agency IANS India Pvt Ltd, further expanding its presence in the media sector. Adani Enterprises, the holding company's media arm, disclosed in a regulatory filing that its subsidiary AMG Media Networks Ltd purchased the stake. This move follows Adani's previous acquisitions of Quintillion Business Media and a majority stake in broadcaster NDTV. Adani Group aims to invest ₹7 trillion ($84 billion) in infrastructure over the next decade.

Moody's affirms Baa3 rating on three Adani Energy Solutions units

Economic Times

Economic Times · 22d ago

Moody's affirms Baa3 rating on three Adani Energy Solutions units

Moody's has affirmed a Baa3 credit rating for three Adani Energy Solutions Ltd entities, maintaining a negative outlook due to governance risks associated with legal issues involving senior Adani executives. The affected entities are Adani Transmission Step-One Ltd, Adani Transmission Restricted Group 1, and Adani Electricity Mumbai Ltd. Despite governance uncertainties, there have been no significant operational disruptions reported for FY25, and the entities continue to have access to liquidity and funding.

From investment to stock market - Gautam Adani highlighted these 4 things

Livemint

Livemint · 1y ago

From investment to stock market - Gautam Adani highlighted these 4 things

Gautam Adani, the founder of Adani Group, delivered a keynote speech at an event organized by Crisil, discussing India's infrastructure sector, stock market, GDP growth, and future investments. He highlighted the remarkable advancements in India's infrastructure over the past decade and praised the government's effectiveness in institutionalizing policies. Adani also announced plans to invest over $100 billion in energy transition projects and the manufacturing of components for green energy production. He expressed confidence in India's potential for future GDP growth and predicted a trillion-dollar addition to India's GDP every 12 to 18 months in the next decade.

Capex of Small Pvt Airports May Rise Up to 60 % on Average Over Next 3 yrs: Crisil

OutlookIndia

OutlookIndia · 2m ago

Capex of Small Pvt Airports May Rise Up to 60 % on Average Over Next 3 yrs: Crisil

Capital expenditure for small private airports in India is projected to rise by 50-60% over the next three years due to increased terminal utilization, according to Crisil. This growth responds to a 45% annual rise in passenger traffic between FY22 and FY25. Meanwhile, capex at large airports is expected to decline, as many projects are nearing completion. Overall, private airport capex might reduce to Rs 40,000 crore.

Short bets against Nvidia stand at $34 billion, S3 Partners says

Economic Times

Economic Times · 1y ago

Short bets against Nvidia stand at $34 billion, S3 Partners says

Investors have placed short bets against Nvidia, as the company threatens to surpass Microsoft as the world's most valuable company. These short bets against Nvidia amount to approximately $34 billion, which is nearly double the combined amount bet against Apple and Tesla. Despite this, the short bets against Nvidia make up just 1% of its stock market value, as the demand for its high-end AI processors continues to drive its stock up. On Wednesday, Nvidia's market value reached $1.012 trillion, surpassing Apple to become the second most valuable company. However, its market value decreased to $2.96 trillion on Thursday, while Microsoft's value stands at $3.15 trillion.

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

Livemint

Livemint · 10m ago

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

- Adani Enterprises is planning to launch a share sale as early as next week, aiming to raise about $1.3 billion through a qualified institutional placement. - The share sale will mark Adani Enterprises' return to public equity markets following a scathing short-seller report in 2023. - The company received board approval in May to raise up to $2 billion through various methods, including a share sale to institutions. - Adani Enterprises' successful share sale will serve as a vote of investor confidence for the conglomerate. - ICICI Securities, Jefferies Financial Group, and SBI Capital Markets are assisting Adani Enterprises with the share sale. - Adani Enterprises' shares have risen 12% this year, but are still about 7% below pre-short-seller report levels.

ReNew reports record profit of ₹415 crore in FY24

Livemint

Livemint · 1y ago

ReNew reports record profit of ₹415 crore in FY24

Indian renewable energy company ReNew Energy Global has reported a net profit of INR 414.7 crore ($55.7 million) for FY24, marking a turnaround from the previous year's net loss of INR 503 crore. The company's revenue declined 4.4% in Q4 FY24, but for the full year, it stood at INR 9,653 crore ($1.3 billion), up from INR 8,932 crore in FY23. ReNew plans to double its capacity and aims to add 1,900-2,400 MW to its existing 13.5 GW capacity by the end of FY25.

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