In a major relief for Adani Groups, the former Supreme Court judge panel said there is no regulation in market. In the recent development after the Hindenburg report, the SC asked the Security Exchange Board of India (SEBI) to complete the investigation and submit a report. The ex-SC panel also said there was evidence of a build-up in short positions on Adani Group stocks ahead of the US report.
Adani group has announced to invest around Rs 65,000 crore in Rajasthan, in the next five to seven years. Adani group will reportedly set up a mega 10,000 MW solar power capacity in Rajasthan, creating over 40,000 direct and indirect jobs. The announcement was made during the inaugural session of the Invent Rajasthan Summit 2022 in Jaipur, on October 7.
Gautam Adani, founder of Adani Group, on September 16, briefly became the second richest person on the world. Adani’s net worth stood at a staggering $155.7 billion (12.37 lakh crore). With this, the 60-year-old Indian businessman surpassed Amazon founder Jeff Bezos, French tycoon Bernard Arnault and others. Meanwhile, Tesla founder Elon Musk retains the top spot as the richest man in the world, with a net worth of $264 billion.
Courtesy: Hindustan Times
The reported takeover of NDTV Media House by Adani's has been halted under the SEBI Act. On August 25, New Delhi Television Ltd., issued a letter to the Adani Group, saying, the takeover is not possible as Radhika and Prannoy Roy, owners of RRPR Holding Pvt. Ltd., are prohibited from engaging in any securities transactions, by India's markets… read-more
Courtesy: The Free Press Journal
The world's largest cement maker, Holcim Ltd, is mulling over the sale of Ambuja Cements Ltd and ACC Ltd, according to some people privy to the matter. Holcim had entered India seventeen years ago, and can now possibly leave the market. This is in line with its global strategy to shift focus to other markets. The cement behemoth reportedly held some negotiations with the Adani Group and the JSW too.
Courtesy: The Economic Times
Maharashtra's Deputy Chief Minister Ajit Pawar on September 16 affirmed that the construction work of the Navi Mumbai International Airport Ltd (NMIAL), will be completed by 2024. ''I don't see that they'll face any problem...We'll be reviewing the work periodically,'' Pawar said. Reportedly, the Adani group is seeing the management of the Airport which will be around 35 km from Mumbai's existing Chhatrapati Shivaji Maharaj International… read-more
Adani Group has decided to launch a ''super app'' to rival companies like PhonePe, Paytm, GooglePay, Tata, and Reliance. Adani Group chairman Gautam Adani said ''It took less than 30 minutes for me to decide that we must become a player in this space'' as he saw the mockup of the app in July 2021. However, the launch date is yet to be announced by the group.
Courtesy: Zee News
Gautam Adani has tumbled in his run for the richest man in Asia after witnessing a drastic falls in his stocks. However, this week, his personal wealth worth $77 billion has come down to $63 billion. Reportedly, the 58-year-old business tycoon has lost around $13 billion in 4 days after the Mauritius based 'Adani-invested' fund accounts were freezed. Unfortunately, these funds hold 90% of Adani Group's assets.
Courtesy: The Indian Express
Adani Group's owner Gautam Adani, with a net worth of $67 billion, has surpassed China's Zhong Shanshan ($63.6Bn) to become the second-richest Asian. With the feat, Adani has now bagged the 16th place globally, four behind richest Asian Mukesh Ambani ($76.5Bn). According to Bloomberg's report, Adani's rise began in 2020 since stocks of all his six companies rose, taking the market capitalisation from $20 billion to $115 billion.
Courtesy: The Times of India
Indian e-commerce giant Flipkart announced a collaboration with Adani Group on April 12 to expand its supply chain base. Under the strategic and commercial partnership, Adani Logistics Limited will help Flipkart in strengthening its supply infrastructure and will construct a logistics hub in Mumbai. The collaboration is likely to generate 2,500 direct and thousands of indirect jobs. Additionally, Flipkart will open a data centre at… read-more