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Adani Power Limited (ADANIPOWER.NS)

536.05

-20.40

(-3.67%)

At close: 3:30:01 PM GMT+5:30

Adani Camp Met US Officials in Push to End Bribery Cases

Bloomberg has learned that representatives for Indian billionaire Gautam Adani and his companies met Trump administration officials about dismissing the criminal charges levied against him in an overseas bribery probe. Bloomberg's P R Sanjai shares what we know so far.

Bloomberg yesterday

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India's Adani Power says hopeful Bangladesh will pay all outstanding dues

Bangladesh has struggled to pay its dues per the deal, signed in 2017, as imports got costly since the Russia-Ukraine conflict in 2022 and amid the domestic political turmoil last August that led to the ouster of the country's prime minister. As a result, Adani had halved supply last year but CFO Dilip Jha said the company has resumed full supply since as the country's monthly payments started covering some of the dues.

Reuters 4 days ago

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Adani Group halts talks with Tower Semiconductor

Tower was expected to contribute technological expertise, but Adani Group wanted them to invest more financially.

Verdict 5 days ago

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TSEM
Adani Enterprises fourth-quarter profit drops on coal trading weakness

The company's consolidated profit before exceptional items and tax declined to 13.13 billion rupees ($155.2 million) in the January-to-March quarter, from 13.22 billion rupees a year ago. Consolidated net profit, however, surged more than eight-fold to 38.45 billion rupees, helped by a one-time gain of 39.46 billion from a partial sale of its stake in its consumer goods venture with Singapore's Wilmar. The ports-to-power Adani Group's flagship firm has been expanding its new energy business, which comprises of solar manufacturing and wind turbine businesses.

Reuters 5 days ago

ADANIENT.BO

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Exclusive-Adani pauses talks with Israel's Tower for $10 billion India chip foray, sources say

BENGALURU/NEW DELHI (Reuters) -Indian billionaire Gautam Adani's group has paused discussions with Israel's Tower Semiconductor for a $10 billion chip project as it did not make strategic and commercial sense for the group, two people familiar with the matter told Reuters. India's western Maharashtra state in September announced approval for Adani and Tower to set up a facility which would produce 80,000 wafers per month and create 5,000 jobs, helping Prime Minister Narendra Modi's ambition of making India a chipmaking hub. Adani Group had previously said the project was being evaluated, but the talks with Tower have been now been put on hold after the Indian conglomerate's internal evaluation found there was still uncertainty about how much demand - especially in India - the business can generate, said the first source with direct knowledge of the matter.

Reuters 6 days ago

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TSEM
Adani settlement pleas delayed by India regulator's review of processes

MUMBAI (Reuters) -India's markets regulator has kept in abeyance pleas by the Adani group and its offshore investors to settle a raft of regulatory charges until internal processes are reviewed, two sources with direct knowledge of the matter said. The Securities and Exchange Board of India (SEBI), where a new chief took charge in March, is reviewing rules of settlement pleas, the regulator said last month. A lack of uniformity in the settlement process and unclear rules on the nature of penalties imposed has prompted the review, the first source said.

Reuters 6 days ago

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India's AWL Agri Business ups sales forecast on delivery boom, easing food prices

(Reuters) -Indian consumer goods firm AWL Agri Business, formerly known as Adani Wilmar, raised its forecast for fiscal 2026 sales volumes, expecting growth to surpass 10%, as it bets on the boom in 10-minute delivery platforms and softer food prices. He added that sales volumes in AWL's edible oil business, its biggest, are expected to increase by 7%-10% this fiscal year, which started on April 1.

Reuters 7 days ago

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India's Adani Green says independent review on US indictment found no irregularities

In November, U.S. authorities indicted Gautam Adani, his nephew and Executive Director Sagar Adani and Managing Director Vneet S. Jaain, alleging that they paid bribes to secure Indian power supply contracts and misled U.S. investors during fund raises. The Adani Group has denied the charges, calling them "baseless."

Reuters 7 days ago

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Chile’s Codelco to supply copper concentrate to India’s Adani Group

Codelco will begin supplying copper concentrate this year.

Mining Technology last month

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Chile's Codelco to supply copper concentrate to India's Adani Group-owned smelter

The supply will begin this year, said Codelco, whose chairman, Maximo Pacheco, met Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad in the western state of Gujarat. Kutch Copper, as the smelter is formally known, is also located in Gujarat and its executives had told Reuters it would source concentrates from Chile and other countries.

Reuters last month

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India's Adani Energy Solutions wins $325 million transmission project

The project will create a power transmission system for a green hydrogen/ammonia manufacturing unit in Mundra, Gujarat and will be completed in three years, the company said in an exchange filing. India is aiming to produce 5 million tonnes per annum of green hydrogen by 2030 and will need 125 gigawatts of renewable energy for that. However, a lack of power transmission infrastructure is leading to delays in setting up renewable energy projects and cancellation of projects.

Reuters last month

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Adani defending key India projects against environmental challenges

Indian billionaire Gautam Adani's group is battling allegations in court this month that its planned multibillion-dollar power plant and a luxury housing complex breach environment laws, adding to its many legal headaches. Such allegations have often troubled Adani projects in India and abroad. In Australia, the group battled a seven-year activist campaign against its Carmichael coal mine, and construction at its seaport in south India was halted for months in 2022 due to protests over coast erosion.

Reuters last month

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India to deliver US summons to Adani for alleged bribery

The Indian government has asked a local court to deliver a summons issued by the U.S. Securities and Exchange Commission to billionaire Gautam Adani over alleged securities fraud and a $265 million bribery scheme, according to a letter seen by Reuters. The summons, which was issued under Hague Service Convention that does not allow the serving of legal documents directly to defendants in India, would require Adani or his legal counsel to appear in the case in the United States, Indian lawyers said. Adani Group has denied the allegations, describing them as "baseless" and vowing to seek "all possible legal recourse".

Reuters last month

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Adani wins $4.12bn Motilal Nagar redevelopment project in Mumbai, India

The company outbid L&T by offering a greater built-up area in the tender.

World Construction Network last month

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Sri Lanka 'welcomes' investment opportunities from Adani, says official

Sri Lanka has not changed its stance on doing business with India's Adani Group and welcomes investment opportunities from the conglomerate, the country's cabinet spokesperson said on Tuesday. Gautam Adani, the chairman of the ports to power business group, and top executives of Adani Green were indicted by U.S. prosecutors last year for their alleged role in a $265 million scheme to bribe Indian officials to secure solar power deals. Adani and the executives have denied any wrongdoing.

Reuters last month

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US legal troubles for tycoon Adani expose shortcomings in India's booming solar sector

President Donald Trump's decision to freeze a law banning business bribes overseas could offer Indian tycoon Gautam Adani, one of Asia's richest people, a reprieve from American corruption allegations linked to a major solar project in India. U.S. prosecutors allege that one of Adani's companies duped investors by hiding that its project was backed by a $265 million bribery scheme. Whatever its fate, the case has highlighted vulnerabilities in India’s solar sector that are hindering its capacity to switch to clean energy, help limit climate change and cut heavy pollution in many of its cities.

Associated Press Finance last month

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Fitch assigns negative outlook to India's Adani Energy on US probe risks

The action comes months after U.S. authorities accused billionaire Gautam Adani and top Adani Group executives of paying $265 million in bribes for Indian power contracts and misleading U.S. investors during fundraising, charges the group has called "baseless". Adverse findings from the U.S. investigations could weaken governance standards and trigger a downgrade of the company's rating in the near to medium term, Fitch said on Sunday. It could cut the rating if the investigations lead to regulatory penalties, restrictions, or a loss of market confidence, the rating agency said.

Reuters last month

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India's top court asks Adani to reply to allegations over Dharavi slum project

India's Supreme Court on Friday asked billionaire Gautam Adani's conglomerate to respond to allegations of unfairly winning a bid to redevelop one of Asia's largest slums in Mumbai, with the competing Dubai-based consortium offering to raise its bid. The long-running legal battle focuses on whether SecLink Technologies was incorrectly excluded from the bidding process when the Indian billionaire won the Dharavi slum project with a $619 million bid in 2023. Adani and the government of Maharashtra, where the slum is located, have denied wrongdoing.

Reuters last month

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India's Adani Group revives US investment plans, FT reports

Since the election of President Donald Trump, the conglomerate has reactivated potential plans to fund projects in sectors such as nuclear power and utilities, as well as an East Coast port, the report said, citing four people close to founder and chair Gautam Adani. Federal prosecutors in New York unsealed an indictment in November accusing Gautam Adani of bribing Indian officials to persuade them to buy electricity produced by Adani Green Energy. "We know what we want to do, but we will wait until this (case) resolves," the FT quoted a person close to Adani as saying.

Reuters 2 months ago

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US SEC seeks India's help in Adani fraud probe

The U.S. Securities and Exchange Commission has asked Indian authorities for help in its investigation of Adani Group founder Gautam Adani and his nephew over alleged securities fraud and a $265-million bribery scheme, a court filing showed on Tuesday. The regulator told a New York district court it was making efforts to serve its complaint on the founder and his nephew, Sagar Adani, and was seeking help from India's law ministry to do so. Neither individual is in U.S. custody, and both are now in India.

Reuters 2 months ago

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Performance Overview

Return	ADANIPOWER.NS	S&P BSE SENSEX (^BSESN)
YTD	+1.25%	+3.20%
1-Year	-9.00%	+9.13%
3-Year	+83.55%	+47.06%

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Adani Power Limited (ADANIPOWER.NS)

Adani Camp Met US Officials in Push to End Bribery Cases

India's Adani Power says hopeful Bangladesh will pay all outstanding dues

Adani Group halts talks with Tower Semiconductor

Adani Enterprises fourth-quarter profit drops on coal trading weakness

Exclusive-Adani pauses talks with Israel's Tower for $10 billion India chip foray, sources say

Adani settlement pleas delayed by India regulator's review of processes

India's AWL Agri Business ups sales forecast on delivery boom, easing food prices

India's Adani Green says independent review on US indictment found no irregularities

Chile’s Codelco to supply copper concentrate to India’s Adani Group

Chile's Codelco to supply copper concentrate to India's Adani Group-owned smelter

India's Adani Energy Solutions wins $325 million transmission project

Adani defending key India projects against environmental challenges

India to deliver US summons to Adani for alleged bribery

Adani wins $4.12bn Motilal Nagar redevelopment project in Mumbai, India

Sri Lanka 'welcomes' investment opportunities from Adani, says official

US legal troubles for tycoon Adani expose shortcomings in India's booming solar sector

Fitch assigns negative outlook to India's Adani Energy on US probe risks

India's top court asks Adani to reply to allegations over Dharavi slum project

India's Adani Group revives US investment plans, FT reports

US SEC seeks India's help in Adani fraud probe

Performance Overview