The company is looking to finance repurchase of this outstanding 3.375% senior notes due 2024 using its existing cash reserves. After the repurchase, $325 million of the notes will be outstanding.
Adani Ports offers to buy back up to $195 million of 2024 bond
The Adani-led group's seven-listed stocks have lost over $100 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. The group denied all allegations.
ZEEL, Adani Ports among 10 stocks with RSI trending up
On September 21, Thursday, StockEdge reported that 10 stocks were showing an uptrend in their Relative Strength Index (RSI). In this article, we explore what RSI is, why it's crucial for assessing stock movements, and present the 10 stocks that are currently on the rise.
Adani Port’s recent breakout above its previous high is a promising development for investors. This breakout suggests increased bullish momentum and potential for further upward movement. The stock’s strong fundamentals, along with its position in the logistics and infrastructure......read more
Taking Stock: Bull run continues on seventh day; Nifty hits fresh record high, Sensex up 528 pts
Biggest gainers on the Nifty were Adani Ports, Adani Enterprises, Apollo Hospitals, Axis Bank and Power Grid Corporation, while losers included Jio Financial, Coal India, ONGC, Bajaj Finance and L&T
Adani Ports jumps over 4% after economic corridor announcement in G20 summit
The economic corridor will see the setting-up of rail and port links between the Middle East, South Asia, and Europe which US President Joe Biden described as a "real big deal" in the just concluded G20 summit. The announcement was among the key takeaways from a three-day-long diplomatic exercise and was announced by the leaders of the United States, India, and Saudi Arabia.
Adani Enterprises, Adani Ports shares rise 2% as promoter group hikes stake
Adani Ports has given a return of 23.43 percent over the last six months. The Nifty50 benchmark index has given a return of 16.06 percent over the same duration.
These 7 Nifty stocks are still miles away from 52-week highs; what should investors do?
The Adani Groups flagship company has given 41% returns so far in FY24 and is one of the best-performing stocks in the index. Despite this, the stock is still about 70% away from its 52-week high of Rs 4,190, touched in December 2022.
Sebi examined funds named by OCCRP in Adani probe: Report
According to the Organised Crime and Corruption Reporting Project (OCCRP), offshore structures based in Mauritius purchased between 8% and 14% of shares in four Adani Group units - Adani Power, Adani Enterprises, Adani Ports, and Adani Transmissions. The Adani Group has rejected the report.
Vinit Bolinjkar sees conspiracy behind Soros attack on Adani group; picks 3 stocks to buy on dips
"This has happened exactly after we took over the Haifa Port. Recently Adani has been in the news because they were looking to buy some ports in Greece after Prime Minister Modi's visit to Greece. This is in direct conflict with the Belt and Road Initiative of the Chinese. If I were to ask you to connect the dots, you can very well know that George Soros' wife is of Oriental origin."
Adani stocks tank up to 3% as George Soros-backed entity attempts Hindenburg 2.0
Shares of Adani Power, Adani Energy Solutions and Adani Green led the downside by dropping 3% each. The conglomerate's cash cow Adani Ports fell 1.7% while the flagship entity Adani Enterprises fell over 2%.
Adani shares rise up to 2% ahead of SC hearing on Hindenburg issue
In a status report, Sebi gave a detailed breakdown of the steps taken during its investigation but does not reveal specific findings. It told the top court in its filing that out of the 24 matters it was probing, findings in as many as 22 are final.
Vinit Bolinjkar on two top bets from Adani Group stocks for long term
So, Adani Energy Solutions with its rapid growth in seeking assets for transmission and Adani Enterprises with its 50 billion dollar investment that they plan to have over the next few years to set up a 10 million tonne green hydrogen end-to-end supply chain augurs very well for this thing.
#ADANIENT , #ADANIPORTS , #SUNPHARMA , #BHARTIARTL I am sharing screenshot of study of these four stocks on daily timeframe.... As per my indicator.... Let me know if anyone wants the study based on my indicator of any other F&O segment stock...
Adani group has been concentrating on improving operational performance as a comeback strategy after being hit by a damning report of a US short-seller in January this year.
Ahead of Market: 10 things that will determine D-Street action on Tuesday
A reasonably positive candle was formed on the daily chart with a minor upper shadow. Technically, this pattern indicates a narrow range movement in the market at the support of 19,250-19,300 levels
Adani stocks have since recovered some of the losses. GQG has so far invested Rs 38,700 crore in Adani Group firms. Qatar Investment Authority (QIA) has invested Rs 4,100 crore in Adani Green Energy and Bain Capital has poured in Rs 1,440 crore, helping re-build investor confidence.
Strong operational performance helped boost the group's net profit, although overall sales saw a decline during the quarter. The comparative performance excludes the group's cement entities acquired after the first quarter of FY23.
GQG Partners buys additional stake to 5.03% in Adani Ports
The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research's critical report on the Adani group that was published in January.
Two promoter group entities acquire 2% stake in Adani Ports via open market
Last year, Deloitte was appointed as the statutory auditor for a period of 5 years. However, the auditor had differences with the management regarding certain transactions, which were also flagged by US-based Hindenburg Research in its report in January.
Adani stocks decline, group market cap falls by Rs 25,000 crore
Shares of Adani Enterprises, the group's flagship company, fell as much as 5.4% in early trades Monday before closing 3.3% lower at ₹2,456. Adani Ports & SEZ shares fell almost 2% to close at ₹787.
Sebi seeks 15-day extension to conclude, file status report in Adani-Hindenburg case
The Securities and Exchange Board of India (SEBI) on Monday sought a 15-day extension in Supreme Court to conclude the investigation and submit the status report in its probe into Hindenburg report against Adani group.
Adani Ports shares fall 4% after Deloitte quits as auditor
Adani Enterprises fell 5.4%, while Adani Green Energy and Adani Transmission declined over 4% each. Adani Power, Adani Wilmar, and Ambuja Cement also fell nearly 3%.
Sandip Sabharwal on why bank stocks are going through a correction
Investors should consider buying the dip in commodity consumers as the uptick in crude or commodity in this global environment won't be permanent, says Sandip Sabharwal. He adds:" the cyclical stock Apollo Tyres needs to go through a phase of consolidation before it can move higher. Also, the Bank Nifty has heavily underperformed the Nifty this year, despite financials being heavily overweight. "
Hot Stocks: Brokerages view on Nykaa, Adani Ports, Apollo Hospitals and LIC
Motilal Oswal maintained a buy on Apollo Hospitals with a target price of Rs 5700. Apollo Hospitals (APHS) delivered operationally in-line 1QFY24.“We remain positive on APHS due to: a) its sustained healthy growth/ profitability in healthcare services, and b) efforts to achieve breakeven in Healthco during 4QFY24E,” said the note.
Sebi set to hand in final Adani report on Hindenburg allegations to Supreme Court
Sources aware of Sebi's probe said this would be a final report and that the regulator's investigation was over. While the exact findings could not be ascertained, Sebi has probed, among other things, whether Adani Group manipulated the share prices of its group companies by exploiting loopholes in the minimum public shareholding (MPS) norms, and whether it failed to disclose related-party transactions.
Sebi set to hand in final Adani report on Hindenburg allegations to Supreme Court
Sources aware of Sebi's probe said this would be a final report and that the regulator's investigation was over. While the exact findings could not be ascertained, Sebi has probed, among other things, whether Adani Group manipulated the share prices of its group companies by exploiting loopholes in the minimum public shareholding (MPS) norms, and whether it failed to disclose related-party transactions.
Adani Ports appoints BDO auditor after Deloitte quits
Professional services firm, MSKA Associates, will take over as the statutory auditor of Adani Ports & SEZ (APSEZ) following Deloitte's resignation, which was prompted by differences over several transactions with APSEZ management. MSKA & Associates has been hired until the next APSEZ annual general meeting, to be held in 2024. The resignation of Deloitte increases the number of audit changes at Adani Group companies in recent months.
Deloitte to quit as Adani Ports' auditor over concerns flagged by Hindenburg 🔥 🔥
Deloitte has decided to resign as auditor of India’s Adani Ports over concerns about transactions flagged in a report by the United States-based ......read more
Adani Group appoints MSKA & Associates as APSEZ’s auditor
MSKA and associates offer accounting services in India, and it is an independent member firm of BDO International, which is one of the top six global audit firms, Adani Group informed on Saturday.
When auditors quit, you know things are not as projected: Congress on Adani issue
The Congress on Saturday hoped the SEBI report on Adani would answer the questions raised by Supreme Court's Expert Committee and wondered when will Prime Minister Narendra Modi break his silence on the issue. In May, the apex court had granted the Securities and Exchange Board of India (SEBI) time till August 14 to complete its probe into the allegations of stock price manipulation by the Adani group.
Deloitte to quit as Adani Ports’ auditor over concerns flagged by Hindenburg: Report
Deloitte in May had pointed to certain transactions flagged by the US short-seller in its report and gave only a qualified opinion, which indicates concerns by a company's auditor.
In May, Deloitte had flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone
Adani Ports auditor Deloitte to resign after flagging concerns
Deloitte Haskins & Sells LLP has communicated to Adani Ports & Special Economic Zone Ltd. its resignation plans and a formal announcement is expected in coming days, one of the people said, asking not to be identified discussing a sensitive matter.
Adani Ports, Asian Paints among 10 Nifty stocks with golden crossover pattern
On August 11, Friday, Trendlyne reported an intriguing trend - more than 40 Nifty50 stocks witnessed the formation of the Golden Crossover. ETMarkets has singled out ten stocks from this group that are worth exploring. These stocks have experienced the Golden Crossover, indicating a potential shift in their price momentum
Adani Ports Q1 results beat Street estimates. Should you buy stock?
Adani Ports reported a consolidated net profit of Rs 2,115 crore for the quarter ended June 2023, which is higher by 83% compared with Rs 1,158 crore in the same quarter last year. Revenue from operations jumped 24% year-on-year (YoY) to Rs 6,248 crore in the June quarter. The same stood at Rs 5,058 crore in the same quarter last year.
Adani Group weighs stake sale in FMCG joint venture with Wilmar
The 50:50 joint venture (JV) between Adani and Wilmar was set up in 1999. The company raised Rs 3,600 crore by way of an initial public offering in February 2022, bringing the stake of the two JV partners down to 43.97% each.
Adani Ports April-June net rises 80%; projects 17% rise in FY24 Ebitda
Adani Ports & SEZ (APSEZ) reported an 80% rise in quarterly profits due to robust operations and a swing to forex gains from a loss in the previous year. In addition, APSEZ has provided guidance for the current fiscal year of up to a 15% increase in cargo tonnage, a 20% rise in revenue, and a 17% increase in EBITDA
Weekly breakout: Infosys, Adani Ports and 7 other stocks crossed previous week's high
The accomplishment of crossing last week's high by these companies reflects their resilience and potential for future growth, making them noteworthy contenders in the stock market landscape.
Adani Ports Q1 Preview: Consol PAT may fall 6% YoY; FY24 guidance in focus
Consolidated net profit is likely to fall 5.5% year-on-year (YoY) to Rs 1,929 crore, according to the average of estimates given by four brokerages. However, the revenue is set to increase by nearly 22% YoY to Rs 6,156 crore on the back of strong growth in volumes.
On the recent Friday trading session, Adani Ports exhibited a trading pattern within a certain range. The stock's price fluctuated around a breakout point, indicating a potential favorable opportunity for trading. Traders and investors might consider the marked level......read more
After Sanghi Industries, Ambuja keeping its options open on acquiring other cement companies: Karan Adani
Ambuja Cements has taken a majority share in Sanghi Industries, buying the cement maker for Rs 5,000 crore ($667m). The company wants to exploit Sanghee's location, adjacent to the sea and coal mines, and its limestone reserves to establish the Kachchh plant as the cheapest clinker production plant in the country. Ambuja believes it can produce clinker for Rs 1,500-1,600 per tonne. Immediately after the acquisition, Ambuja plans to increase its cement capacity from 6.1 million tonnes to 10 million tonnes and further expand to 15 million tonnes in two years.
Adani group to expand SIL's Sanghipuram captive port capacity to handle large ships
Adani Ports and Special Economic Zones (APSEZ) CEO Karan Adani announced that the Adani group will expand the captive port capacity of Sanghipuram, following the acquisition by Adani Group firm Ambuja Cements of a majority stake in Sanghi Industries Ltd (SIL) for an enterprise value of Rs 50bn. Ambuja Cements will acquire a 56.74% stake of SIL from its existing promoter group - Ravi Sanghi & family.
Adani stocks gain over Rs 71,000 crore in July. Check top gainers
Adani Green Energy, which reported a 51% jump in its Q1 profit, was the biggest gainer last month as the stock ended 16% higher in July. The Ahmedabad-based conglomerate's cement units - ACC and Ambuja Cements - also saw an upside of 11% and 9%, respectively.
Adani Enterprises, Adani Ports shares in focus as Adani group eyes Rs 15,000 crore fundraise
Adani Group is planning to raise the funds this financial year and the notes would likely be sold in lots of listed and unlisted bonds worth Rs 500 crore to Rs 1,000 crore.
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Adani Enterprises, Adani Ports shares in focus as Adani group eyes Rs 15,000 crore fundraise
Shares of Adani Enterprises Ltd and Adani Ports & SEZ would in focus on Tuesday morning amid a report that suggested that the two Adani group firms, along with some unlisted Adani entiti......read more