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Adani Power Limited (ADANIPOWER.NS)

537.70

-6.10

(-1.12%)

As of 11:44:16 AM GMT+5:30. Market Open.

Factbox-Hindenburg's short bets that shook markets

Hindenburg Research's founder Nathan Anderson announced on Wednesday he would disband the firm whose short reports on companies typically led to sharp plunges in the stock prices, and in some cases, investigations by authorities. The firm bet against publicly listed companies they believed had accounting issues, was being mismanaged or committing fraud, typically following a long period of investigation. Adani Group is perhaps Hindenburg's most famous target, helmed by Gautam Adani who is one of the world's richest men.

Reuters 4 days ago

ADANIPOWER.NS
-1.12%
IEP
Dubai's Emaar in talks with Indian groups, including Adani, to sell stake in local business

Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian business, it said on Thursday. The builder of the world's tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement that the valuation and other terms of a potential deal were not finalised, without adding further details. The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani's Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India.

Reuters 4 days ago

ADANIPOWER.NS
-1.12%
Adani Group to Raise $833 Million as It Exits JV With Wilmar

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergWhat Robotaxis Brought San FranciscoNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionA Blueprint for Better Bike LanesNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeThe Adani Group will raise 71.48 billion rupees ($833 million) by

Bloomberg 10 days ago

ADANIPOWER.NS
-1.12%
India's Adani to sell up to 20% stake in Wilmar joint venture

Adani, which holds a nearly 44% stake in the joint venture with Singapore's Wilmar International, will sell up to 13.5% to the public in an offer for sale beginning Jan. 10, with an option to sell an additional 6.5%. The group has set a floor price of 275 rupees per share, a near 15% discount to Thursday's closing price of 323.45 rupees on the National Stock Exchange. Adani said in December it would exit Adani Wilmar in a $2 billion deal as it sharpens its focus on its infrastructure business.

Reuters 11 days ago

ADANIPOWER.NS
-1.12%
WLMIY
India's Adani Wilmar falls on Adani group's plan to offload stake

The group will sell a 31% stake in Adani Wilmar to its joint venture partner, Singapore's Wilmar International, at a maximum of 305 rupees per share, which is a 7.2% discount to the stock's closing price on Monday. Adani Wilmar's shares dropped 6.4% to 307.10 rupees in early trading. The Adani group will sell the remaining 13% stake in the edible oil maker in the open market, it said.

Reuters 21 days ago

ADANIPOWER.NS
-1.12%
WLMIY
India's Adani group to exit consumer goods joint venture with Singapore's Wilmar in $2 billion deal

(Reuters) -India's Adani group is exiting its consumer goods joint venture with Singapore's Wilmar International in a $2 billion deal as it looks to bolster its infrastructure business. The divestment marks the Indian conglomerate's first major transaction since the U.S. indictment of its billionaire founder in November and will see Wilmar acquire the group's 31% stake in Adani Wilmar at a per-share price not exceeding 305 rupees. The price is a 7.2% discount to Adani Wilmar as of Monday's close and values the portion being sold to Wilmar at $1.44 billion.

Reuters 21 days ago

ADANIPOWER.NS
-1.12%
WLMIY
India court dismisses challenge to award of Mumbai slum revamp contract to Adani

An Indian court on Friday dismissed a petition challenging the award of a contract to Adani Group to revamp one of Asia's largest slums in Mumbai, clearing one of the main legal challenges to the ambitious project. The group led by billionaire Gautam Adani won a $619 million bid in 2023 to convert the Dharavi slum into a modern city hub, but Dubai-based SecLink Technologies Corporation, winner of a previous tender for the slum revamp, challenged the award of the contract to Adani in a petition in the Bombay High Court in July 2023.

Reuters last month

ADANIPOWER.NS
-1.12%
Sri Lanka unconcerned with Adani Group's dealings with other countries - report

Sri Lanka is unconcerned about the Adani Group's dealings with other countries and only focused on its $1 billion worth of projects in the island nation, President Anura Kumara Dissanyake told Indian media during an official visit to Delhi this week. Dissanayake was on his first state trip to Sri Lanka's powerful neighbour after winning the presidency in September and securing a landslide parliamentary election victory last month. Sri Lanka is "concerned about our investments, our development," he told The Economic Times in an interview published on Wednesday.

Reuters last month

ADANIPOWER.NS
-1.12%
Bangladesh's electricity imports from Adani plant slide by a third in November

Bangladesh's electricity imports from an Adani Power plant in India fell by nearly a third in November, Indian government data showed, pushing the south Asian nation to boost fuel oil use for power generation. It had signed a 25-year deal to supply power to Bangladesh in 2017 under ousted Prime Minister Sheikh Hasina.

Reuters last month

ADANIPOWER.NS
-1.12%
Adani deal under bribery scrutiny was approved against officials' advice

NEW DELHI/SINGAPORE (Reuters) -The approach from the Solar Energy Corporation of India (SECI) on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India's largest renewables contract. Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had no short-term need for solar power, and should focus on other renewables that could provide 24-hour energy.

Reuters last month

ADANIPOWER.NS
-1.12%
India's solar energy agency changes bidding policy after Adani bribery allegations, says source

An Indian government agency charged with promoting renewable energy has changed the way it issues power tenders to reduce the risk of corruption after U.S. allegations of bribery in some tenders, said an official with direct knowledge of the matter. The Solar Energy Corporation of India (SECI) earns commission for linking renewable energy producers with buyers. It was an intermediary in solar power deals involving Adani Group and several states where U.S. authorities have said bribes were paid to unidentified officials between 2021 and 2022.

Reuters last month

ADANIPOWER.NS
-1.12%
Adani Ports withdraws DFC funding request for Colombo port project

DFC last year said it would provide $553 million in financing for the port terminal project, which is partly owned by the Adani Group. The company, however, said the Colombo West International Terminal project is progressing well and is on track for commissioning by early 2025.

Reuters last month

ADANIPORTS.NS
-2.39%
ADANIPOWER.NS
-1.12%
Adani announces $88 billion India investment plan, first since US indictments

The announcement, at an event in Jaipur city attended by Prime Minister Narendra Modi, comes less than a month after U.S. authorities accused founder Gautam Adani and some top executives of being part of a scheme to pay bribes worth $265 million to secure Indian power supply contracts. The indictment has sparked political wrangling in India as many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Adani and blocking investigations against him in India, allegations both have denied.

Reuters last month

ADANIPOWER.NS
-1.12%
TotalEnergies' Underperformance Holds Opportunity for Long-Term Investors, RBC Says

TotalEnergies (TTE) has underperformed its peers by more than 15% since late summer due to political

PREMIUM
MT Newswires last month

ADANIPOWER.NS
-1.12%
India's Adani Group seeks to settle regulatory charge of shareholding violations, ET reports

The Securities and Exchange Board Of India (SEBI) had sent notices to Adani Enterprises, the group's flagship company, as well as Adani Power, Adani Ports and Adani Energy alleging they had wrongfully categorised the shareholding of certain entities. The groups' breaches of a minimum public shareholding requirement date back to 2020 and the SEBI had sought to recover about 25 billion rupees ($295 million) from the entities, ET said.

Reuters last month

ADANIPOWER.NS
-1.12%
Exclusive-Bangladesh halves power buying from India's Adani amid payment dispute

Bangladesh has halved the power it buys from neighbouring India's Adani Power, citing lower winter demand, government officials told Reuters on Monday, amid disagreements over dues running into hundreds of millions of dollars. Adani, whose founder has been accused by U.S. authorities of being involved in a bribery scheme in India, charges which he has denied, halved supply to Bangladesh on Oct. 31 over payment delays as the country battles a foreign exchange shortage. Subsequently Bangladesh told Adani to keep supplying only half the power for now, officials said, although it will keep paying its old dues.

Reuters last month

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Adani Power says no indication of Bangladesh reviewing power deal

Adani Power said on Monday it has no indication that the Bangladesh government is reviewing a power purchase agreement with the company, a day after Reuters reported that the country is looking to renegotiate the deal. Reuters reported on Sunday that Bangladesh wants to sharply lower prices under the deal with Adani Group, unless it is cancelled by a court that has called for an investigation into the 25-year deal. The High Court ordered a committee of experts last week to examine the contract under which Adani supplies power from a $2 billion coal-fired plant in eastern India.

Reuters last month

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Shares in major Adani investor GQG plunge after analyst note on outflows

SYDNEY (Reuters) -Shares of Australian-listed GQG Partners tumbled 13% on Monday after UBS downgraded the stock and said the firm may have lost A$600 million ($390 million) in funds under management in the two days following the indictment of Adani Group executives. GQG is a major backer of Adani Group companies, whose founder Gautam Adani and seven other company associates have been indicted by U.S authorities on bribery charges. Adani Group says the allegations are baseless and has vowed to seek "all possible legal recourse".

Reuters last month

ADANIPOWER.NS
-1.12%
Exclusive-Bangladesh wants to renegotiate Adani power deal unless court cancels

Bangladesh wants to sharply lower prices under a power purchase deal with India's embattled Adani Group unless it is cancelled by a court, which has called for an investigation into the 25-year deal, its de facto energy minister told Reuters on Sunday. Adani Group founder Gautam Adani is already facing allegations by U.S. authorities that he was part of a $265 million bribery scheme in India, charges he has denied, even as one Indian state reviews a power deal with the group and France's TotalEnergies pauses its investments. In Bangladesh, based on an appeal by a lawyer demanding the power deal's potential cancellation, the High Court last week ordered a committee of experts to examine the contract under which Adani supplies power from a $2 billion coal-fired plant in eastern India.

Reuters last month

ADANIPOWER.NS
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India's Adani says his group is committed to compliance after US bribery and fraud charges

Indian tycoon Gautam Adani said his conglomerate is committed to “world-class regulatory compliance” after being indicted in the U.S. on fraud charges and an alleged bribery scheme worth millions of dollars, his first remarks since the accusations surfaced. Adani, 62, is one of Asia’s richest men and perceived as close to Prime Minister Narendra Mo di.

Associated Press Finance last month

ADANIPOWER.NS
-1.12%

Performance Overview

Return	ADANIPOWER.NS	S&P BSE SENSEX
YTD	-0.32%	-2.48%
1-Year	+4.05%	+6.46%
3-Year	+372.70%	+28.33%

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Adani Power Limited (ADANIPOWER.NS)

Factbox-Hindenburg's short bets that shook markets

Dubai's Emaar in talks with Indian groups, including Adani, to sell stake in local business

Adani Group to Raise $833 Million as It Exits JV With Wilmar

India's Adani to sell up to 20% stake in Wilmar joint venture

India's Adani Wilmar falls on Adani group's plan to offload stake

India's Adani group to exit consumer goods joint venture with Singapore's Wilmar in $2 billion deal

India court dismisses challenge to award of Mumbai slum revamp contract to Adani

Sri Lanka unconcerned with Adani Group's dealings with other countries - report

Bangladesh's electricity imports from Adani plant slide by a third in November

Adani deal under bribery scrutiny was approved against officials' advice

India's solar energy agency changes bidding policy after Adani bribery allegations, says source

Adani Ports withdraws DFC funding request for Colombo port project

Adani announces $88 billion India investment plan, first since US indictments

TotalEnergies' Underperformance Holds Opportunity for Long-Term Investors, RBC Says

India's Adani Group seeks to settle regulatory charge of shareholding violations, ET reports

Exclusive-Bangladesh halves power buying from India's Adani amid payment dispute

Adani Power says no indication of Bangladesh reviewing power deal

Shares in major Adani investor GQG plunge after analyst note on outflows

Exclusive-Bangladesh wants to renegotiate Adani power deal unless court cancels

India's Adani says his group is committed to compliance after US bribery and fraud charges

Performance Overview