New Delhi, May 22 (IANS) In a major shift among foreign investors regarding their investments in India’s largest conglomerates, the prominent investment management firm Capital Group has increased its exposure to Adani Group companies while decreasing holdings in Reliance Industries Ltd (RIL), according to a new report.According to a Bloomberg report, citing people familiar with the matter, the US-based firm has acquired stakes worth over $2 billion across three Adani Group companies — Adani Po…
Latest Adani Group News & Updates
Washington, May 21 (IANS) Industrial conglomerate Adani Group’s settlement of its legal issues in the United States could help accelerate India’s ambitions in the nuclear energy sector, industry veteran Dr Kris Singh has said, adding that the diversified Group is well-positioned to contribute to large-scale infrastructure development in the field.“I’m glad to see that it’s been settled. So, the Adani (Group) can participate in the nuclear programme that had just opened up,” Singh, Fo…
Amaravati, May 20 (IANS) Adani Hydro Energy Eleven Ltd. (AHE11L), part of the diversified Adani Green Energy, will develop the 2,250 MW Gandikota-2 Pumped Storage Project (PSP) in YSR Kadapa district of Andhra Pradesh.The state government approved the allocation of the project to AHE11L, which is expected to further strengthen the state’s position as India’s emerging clean energy and energy storage hub, said an official release on Wednesday.The project, to be developed by the Adani Group und…
New Delhi, May 19 (IANS) Describing the US decision to drop charges against Adani Enterprises Ltd a ‘huge victory’ for the Adani Group and a positive development for the industry and the country, a leading law expert on Tuesday said the development could help strengthen the Group’s international expansion plans.Speaking to IANS, Raian Karanjawala, Managing Partner of Karanjawala & Co, said the resolution of the case removes a major obstacle for the Adani Group and could strengthen its …
Ahmedabad, May 19 (IANS) The decision by US authorities to drop charges against Adani Group Chairman Gautam Adani is a major positive development for the Adani Group and is expected to strengthen investor confidence while paving the way for the conglomerate to continue raising global capital, a market expert said on Tuesday.Speaking to IANS, Abhay Agarwal said the issue that began with allegations made by Hindenburg Research and later involved US agencies has now reached a “conclusive end”.”I th…
New Delhi, May 19 (IANS) Shares of Adani Group companies surged up to 5 per cent in early trade on Tuesday, with listed entities trading in the green amid improved investor sentiment following recent developments related to a US legal case involving group chairman Gautam Adani and his nephew Sagar Adani.Adani Green Energy emerged as one of the top gainers in the group, rising 5.38 per cent to Rs 1,442 in early trade on the BSE.Meanwhile, Adani Enterprises jumped as much as 3 per cent to touch an…
Washington, May 19 (IANS) Indian-American community leader and former presidential adviser, Ajay Bhutoria, on Monday hailed the dismissal of criminal charges against the Adani Enterprises Ltd, calling it a “definitive legal victory” and describing the Adani Group’s proposed $10 billion investment in the United States as a “game-changer” for the American infrastructure and technology leadership.In a statement issued from Silicon Valley, Bhutoria said the resolution marked a major turnin…
Washington, May 19 (IANS) The resolution of the legal matter involving Adani Enterprises Ltd removes a major distraction from the growing India-US economic partnership, and could pave the way for fresh Indian investments in the United States, the US-India Strategic Partnership Forum (USISPF) said on Monday.“The US Department of Justice’s resolution in the case involving Adani Enterprise brings closure to the ongoing legal matter, which has been a distraction to the otherwise strong US-India ec…
New York, May 18 (IANS) In yet another significant development, the US Department of Justice has permanently dropped all criminal charges against Gautam Adani and his nephew, Sagar Adani, in an alleged securities and wire fraud case.In a filing before the Eastern District of New York, the US Department of Justice requested dismissal of the indictment against Adani.”The Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources t…
New Delhi/Patna, May 17 (IANS) Billionaire industrialist Gautam Adani said on Sunday that the Adani Group is fully committed to giving a new direction to the development of Bihar through active collaboration in big-ticket infrastructure and energy sectors, along with employment generation and social service in the state.Gautam Adani met Bihar Chief Minister Samrat Chaudhary in Patna on Sunday to discuss the Adani Group’s investment plans for the state.”Today’s fruitful meeting with Bihar’s pop…