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<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> will acquire <keyword id="21434388" type="General" weightage="20" keywordseo="Orient-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Orient Cement" meta.hostid="261" meta.entityid="Orient Cement">Orient Cement</keyword> at a valuation of ₹8,100 crore.</li><li><keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> has signed a binding agreement for the acquisition of the company.</li><li>The latest acquisition will add 16.6 MTPA capacity to Adani Cement.</li></ul>Gautam Adani-led Adani Group on Tuesday said it will acquire <keyword id="21501327" type="General" weightage="20" keywordseo="CK-Birla-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="CK Birla Group" meta.hostid="261" meta.entityid="CK Birla Group">CK Birla group</keyword> firm Orient Cement at a valuation of ₹8,100 crore as part of its expansion drive. Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of ₹8,100 crore. As per that, its step-down unit "Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders", according to a joint statement. The acquisition will be fully funded through internal accruals, it added. The latest acquisition will add 16.6 MTPA (million tonnes per annum) capacity to Adani Cement, which operates through Ambuja Cements in the sector. In June this year, Adani announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, which added 14 MTPA capacity to the country's second-largest manufacturer. "This timed acquisition marks another significant step forward in Ambuja Cements' accelerated growth journey, increasing <keyword id="21171283" type="General" weightage="20" keywordseo="cement-capacity" source="keywords">cement capacity</keyword> by ~30 MTPA within two years of Ambuja's acquisition," said Karan Adani, Director of Ambuja Cements. By acquiring OCL, Ambuja is poised to reach 100 MTPA cement capacity in FY25, he said, adding, "The acquisition will help to expand Adani Cement's presence in core markets and improve its pan-India market share by 2 per cent." OCL has 5.6 MTPA clinker capacity and 8.5 MTPA cement capacity along with the statutory clearance to increase the clinker capacity by another 6.0 MTPA and cement capacity by another 8.1 MTPA. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a>

Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

New Delhi, No wealth can match the shine of these eyes, said <keyword id="21163245" type="General" weightage="20" keywordseo="adani-group-founder" source="keywords">Adani Group Founder</keyword> and Chairman <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>, about his granddaughter. The billionaire said this in a post on X.com along with a picture of his 14-month-old granddaughter Kaveri. Kaveri is his youngest granddaughter and the third daughter of <keyword id="20319282" type="General" weightage="20" keywordseo="paridhi" source="keywords">Paridhi</keyword> and <keyword id="20036867" type="General" weightage="20" keywordseo="karan-adani" source="keywords">Karan Adani</keyword>. "All the wealth of the world is pale when compared to the shine of these eyes," the <keyword id="19955648" type="General" weightage="20" keywordseo="adani-group" source="keywords">Adani Group</keyword> Chairman said. The picture was taken on March 21, at the new Adani Green Energy Gallery at the <keyword id="20191746" type="General" weightage="20" keywordseo="science-museum" source="keywords">Science Museum</keyword>, London. Speaking at a recent event, he also shared that spending time with his granddaughters is a big stress reliever. "I love to spend time with my granddaughters. They are my biggest stress reliever. I have only two worlds: work and family. For me family is a great source of strength," Gautam Adani said.

Gautam Adani tells us what shines better than wealth - his granddaughter's eyes

<keyword id="6367820" type="General" weightage="20" keywordseo="Adani-group" source="Orion">Adani group</keyword> will set up two new cement manufacturing plants, 15,000 MW of renewable power projects and a data centre in Andhra Pradesh as it looks to double down on its presence in the state, <keyword id="1033941" type="General" weightage="100" keywordseo="Karan-Adani" source="Orion">Karan Adani</keyword>, founder family's scion, said on Friday. The apples-to-airport group plans to double the capacity of the two seaports it operates at Krishnapatnam and Gangavaram in the state, he said at the <keyword id="16314204" type="General" weightage="100" keywordseo="Andhra-Pradesh-Global-Investors-Summit" source="Orion">Andhra Pradesh Global Investors Summit</keyword> here but did not give investment numbers. The investments will be on top of the Rs 20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs. <keyword id="76451" type="General" weightage="90" keywordseo="adani" source="Orion">Adani</keyword>, who is the CEO of the group's port company <keyword id="11924019" type="DOMAIN" weightage="20" keywordseo="adani-ports" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="adani ports" meta.entityname="Adani Ports &amp; Special Economic Zone Ltd." meta.entityid="20316" meta.seoname="adani-ports-special-economic-zone-ltd">Adani Ports</keyword> and SEZ Ltd and the son of group founder and chairman <keyword id="111343" type="General" weightage="90" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword>, said the group will set up cement plants with a total capacity of 10 million tonnes per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam. This is the first public appearance from the Adani family in the country since a damning report by a US short-seller caused a USD 140 billion rout in shares of the group's listed companies. Senior Adani was a notable absentee at a similar investor summit organised by the Uttar Pradesh government in Lucknow last month. Gautam Adani had attended the previous UP investor summit. Karan Adani said currently, Adani Group operates the two largest private ports in Andhra Pradesh - Krishnapatnam and Gangavaram, with a total capacity of 100 million tonnes per annum. "In the next 5 years, not only do we aim to double this capacity, but also transform these ports into industrial port cities," he said. "By developing industrial clusters at Krishnapatnam and Gangavaram and attracting industries, we will be able to reduce the logistics costs drastically, thus making these industries far more competitive globally." The group is also developing 15,000 MW of renewable power projects over the next few years across five districts of Anantapur, Kadapa, Kurnool, Visakhapatnam and Vizianagaram. "Our other investments in the state include cement manufacturing units and data centres. Presently we do not have any cement manufacturing capacity in Andhra Pradesh. Hence, as part of our expansion plans, we will be setting up cement plants in Kadapa and Nadikudi with a total capacity of 10 million tonnes per annum," he said. Also, the group is working on developing a 400 MW of data centre in Visakhapatnam. "These projects will bring further employment opportunities and demonstrate our commitment to the sustainable growth of the state of Andhra Pradesh," he said. He praised Andhra Pradesh for its "excellent infrastructure, large manufacturing base, talented youth, and business-friendly environment." With the second longest coastline in India, the state has been recognised by the World Bank as the No.1 implementer of energy efficiency and conservation programmes. Turning to CSR work being done by Adani Foundation, he said "our footprint in the state of Andhra Pradesh is getting bigger as I speak on this occasion." "We are investing in education, healthcare, nutrition, access to potable water, sports and building an ecosystem of skilling and sustainable livelihood in the state. Our teams are executing programs in Nellore, Tirupati, and Visakhapatnam districts. At present, we have invested over Rs 4200 crore and are touching over 180,000 lives and counting, in the state," he added. Its social intervention and outreach programs across 74 villages include education programs that span across schools, 32 evening education centres with scholarship programs and the distribution of education kits. "We will continue to partner with the government to transform lives &amp; livelihoods in the state. We are honoured to be a part of the sustainable development of the state of Andhra Pradesh," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-living-on-footpaths-human-beings-too-cant-just-order-their-removal-bombay-hc/articleshow/98386789.cms">People living on footpaths human beings too, can't just order their removal: Bombay HC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/tally-health-unveils-innovative-platform-to-enhance-longevity-in-humans/articleshow/98387387.cms">This US-based startup claims to have cracked the process of reverse aging</a>

Adani to set up cement plants, data centre in Andhra Pradesh

Ahmedabad (Gujarat) [India], November 9 (ANI): AdPorts and Special Economic Zone Ltd. (APSEZ) has reported robust financial results for the second quarter and the first half ending September 30, 2023, showcasing remarkable growth across key metrics. According to a press release by Adani, APSEZ witnessed a substantial YoY revenue growth of 26 per cent, reaching Rs 12,894 Crores during H1 FY24. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) recorded an impressive YoY growth of 49 per cent, amounting to Rs 7,429 Crores. Profit After Tax (PAT) increased by 33 per cent YoY, reaching Rs 3,881 Crores. The port EBITDA margin expanded by 220 basis points (bps) YoY to 72 per cent in H1 FY24. APSEZ achieved record cargo volumes of 203 MMT during H1 FY24 across its 8 ports and terminals. Mundra Port, the flagship port, celebrated 25 years of successful operations, handling over 16 MMT of cargo in a month and achieving the 4 Mn TEUs milestone in just 203 days. APSEZ expanded its logistics business, adding 11 rakes, Loni ICD, and warehouses at Mumbai and Indore during H1 FY24. Karan Adani, CEO and Whole Time Director of APSEZ expressed satisfaction with the company's outstanding performance, citing a 14 per cent YoY increase in cargo volume and improved operational efficiencies contributing to the 72 per cent domestic ports EBITDA during H1 FY24. Adani said, "APSEZ achieved another milestone by registering its highest ever half-yearly revenue of Rs 12,894 Crore, EBITDA of Rs 7,429 Crore and cargo volumes of 203 MMT during H1 FY24. The splendid performance was on the back of a 14 per cent YoY increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports EBITDA improving by 220bps YoY to 72 per cent during H1 FY24." APSEZ's under-construction port in Sri Lanka secured a funding commitment of USD 553 million from the US International Development Finance Corporation (DFC). The logistics business recorded significant growth, with rail volumes up 25 per cent YoY and GPWIS volumes up 42 per cent YoY during H1 FY24. APSEZ achieved an emission intensity reduction of 48 per cent and a water intensity reduction of 58 per cent from the base year (FY2016) as of H1 FY24. The company completed a mangrove plantation of 4,200 Ha against its 2025 target of 5,000 Ha. S&amp;P (DJSI) provided APSEZ with a score of 65 (out of 100), ranking it in the top 4 per cent globally in the Transport and Transport infrastructure sector in its 2023 ESG assessment. APSEZ remains poised for sustained growth, with strong financials, strategic expansions, and a commitment to environmental sustainability. (ANI)

Adani ports and Special Economic Zone Ltd. records stellar H1 FY24 performance

<ul><li>The <keyword id="6368586" type="General" weightage="50" keywordseo="mou" source="Orion">MoU</keyword> will allow <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> businesses to access tech solutions provided by Israeli start-ups. </li><li>The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture, all of which are core businesses for Adani. </li><li>The <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani group</keyword> recently acquired Israel’s <keyword id="14454776" type="General" weightage="50" keywordseo="haifa-port" source="Orion">Haifa port</keyword> in July for $1.18 billion. </li></ul>Adani Enterprises today signed an MoU with the <keyword id="4735589" type="General" weightage="50" keywordseo="israel-innovation-authority" source="Orion">Israel Innovation Authority</keyword> (IIA), a public funded agency overseeing innovation. The MoU will allow Adani businesses to access tech solutions provided by Israeli start-ups. The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture – all of which are core businesses for Adani. The MoU with Israel comes weeks after the Adani group acquired Israel’s Haifa port in July for $1.18 billion. It aims to establish better trade lines between India, Europe and the Middle East. “The Haifa Port acquisition demonstrates the Adani Group’s commitment to Israel. What Adani offers is the broadest sandbox of multiple B2B and B2C industries to multiple tech companies in Israel. It is a classic supply-demand match between two nations that have always shared very strong bonds,” said <keyword id="1033941" type="General" weightage="50" keywordseo="karan-adani" source="Orion">Karan Adani</keyword>, CEO of Adani Ports and SEZ. The Adani Group will screen and select Israeli start-ups to develop innovative solutions in the tech space. “The Adani Group is a partner of choice for any Israeli startup looking to tap into the world’s fastest growing economy – India,” said <keyword id="14637992" type="General" weightage="50" keywordseo="dror-bin" source="Orion">Dror Bin</keyword>, CEO, Israel Innovation Authority. In an annual general meeting of Adani Enterprises held in July, <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, chairman, Adani group <a href="https://www.businessinsider.in/business/news/our-groups-combined-market-cap-exceeds-200-billion-says-gautam-adani/articleshow/93130894.cms">claimed</a> that the combined market capitalization of his companies exceeded $200 billion this year. The group intends to digitally integrate its current and future businesses by linking its data centers through submarine and terrestrial cables alongside industrial level 5G connectivity. It wants to build the largest industrial operations cloud in the world for its 400 million strong consumer base. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vi-betting-on-tariff-hike-as-it-lost-over-10-million-every-day-in-q1-fy23/articleshow/93348828.cms">VI betting on tariff hike as it lost over $10 million every day in Q1 FY23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/no-festival-cheer-ahead-for-fortune-oils-rural-sales-says-adani-wilmar-ceo/articleshow/93349076.cms">No festival cheer ahead for Fortune Oil’s rural sales, says Adani Wilmar CEO</a>

Adani group signs MoU for access to cutting-edge tech of Israeli startups

<ul><li>Shares of <keyword id="895682" type="General" weightage="20" keywordseo="Adani-Ports" source="Orion">Adani Ports</keyword> &amp; SEZ rose by 6% to ₹773 apiece on Tuesday amid a group-wide rally. </li><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> <keyword id="6413000" type="General" weightage="80" keywordseo="ports" source="Orion">Ports</keyword>’ shares closed at ₹761 apiece on January 24 when the Hindenburg Research report was released. </li><li>The Adani group’s cumulative market capitalisation has increased by ₹1.96 lakh crore this week, so far. </li></ul>Adani group stocks are slowly but steadily recovering from the post-Hindenburg effects. The first amongst the equals is Adani Ports and SEZ which has seen its share price bounce back to pre-Hindenburg levels. Shares of Adani Ports &amp; SEZ rose by 6% to ₹773 apiece on Tuesday, which is higher than the closing price of ₹761 on January 24. That was the day US-based research <a href="https://www.businessinsider.in/stock-market/news/hindenburg-effect-last-9-days-wipe-out-gains-clocked-by-adani-group-in-2022/articleshow/97572328.cms">Hindenburg Research report</a> was first published, sparking off a group-wide selloff. The research firm had then said that it had taken short positions on the group stocks. However, by mid-market trade, the stock lost some of its momentum and is now trading at ₹746 apiece. On <a href="https://www.businessinsider.in/business/corporates/news/adani-companies-sc-appointed-panel-finds-no-evidence-of-regulatory-breach-by-adani/articleshow/100352920.cms">Friday</a>, a Supreme Court-appointed panel which was tasked to look into the public interest litigations filed in the Adani-Hindenburg row gave its report. The panel <a href="https://www.businessinsider.in/business/corporates/news/adani-companies-sc-appointed-panel-finds-no-evidence-of-regulatory-breach-by-adani/articleshow/100352920.cms">said</a> that it could not find any failure on the regulator’s part in the Adani-Hindenburg case. Since then, a <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-in-striking-distance-of-entering-the-top-20-richest-club-once-again/articleshow/100437220.cms">group-wide rally that has added ₹1.96 lakh crore</a> to the cumulative market capitalisation of the Adani group this week, so far. Adani Ports stock has been the most resilient in the Adani flock even when the market value of the group was melting. This company’s stock was amongst the slowest to fall and is the first group company to recover all its post-Hindenburg losses. <div type="image" title="Adani Ports share price 24_01_23 to 23_05_23." msid="100441802" hostid="261" sizebytes="18106" caption="&amp;lt;p&amp;gt;Adani Ports share price since January 24, 2023 to May 23, 2023&amp;lt;/p&amp;gt;"></div> While Adani Ports is the first group company to make a full recovery, Adani Power is close, too, with its shares now just 5% below the January 24 level. However, other group companies like Adani Total Gas and Adani Transmission have seen substantial declines of 81% and 69%, respectively, and still have a long way to go. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total decline since January 24 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-69% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NDTV </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ACC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ambuja Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr></tbody></table> Source: NSE, as on May 23, 2023 <cmsannotation type="cmsannotation" annotationid="Adani Ports is India’s largest port company" comment="subhead" text="Adani Ports is India’s largest port company">Adani Ports is India’s largest port company</cmsannotation> Adani Ports &amp; SEZ is India’s largest private port operator, handling a quarter of the country’s total port cargo, according to a report by ICICI Direct. “The company has evolved from a single port dealing in a single commodity to an integrated logistics platform,” the brokerage said in a report. In its FY23 business update,<a href="https://www.businessinsider.in/business/news/adani-ports-records-highest-ever-rail-cargo-of-over-120-mmt-in-fy23/articleshow/100297070.cms"> Adani Ports reported</a> a 9% YoY rise in its port cargo volumes in FY23 which stood at 339 million metric tonnes (MMT). “Adani Ports’ flagship port, Mundra, is outpacing all its closest rivals and continues to be the largest port in the nation in terms of volumes handled,” said Karan Adani, chief executive officer, Adani Ports &amp; SEZ. The Mundra port alone handled 155 MMT of cargo volumes during the year, with its roll-on roll-off handlings touching the highest-ever level of 2.09 lakh cars. Adani Ports currently has 12 ports in India, which include Mundra, Dahej, Tuna, and Hazira in Gujarat, Mormugao in Goa, and Dighi in Maharashtra on the west coast, and Dhamra in Odisha, Gangavaram, and Krishnapatnam in Andhra Pradesh, and Ennore, Karaikal, and Kattupalli in Tamil Nadu on the east coast. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-in-striking-distance-of-entering-the-top-20-richest-club-once-again/articleshow/100437220.cms">Gautam Adani in striking distance of entering the top 20 richest club once again</a> <a href="https://www.businessinsider.in/finance/banks/news/sbi-vs-bank-of-baroda-vs-canara-bank-performance-comparison-based-on-q4-2022-23-earning-reports/articleshow/100357639.cms">SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4</a> <a href="https://www.businessinsider.in/stock-market/news/fpi-flows-into-indian-equities-hit-a-5-month-high-in-may/articleshow/100357453.cms">FPI flows into Indian equities hit a 5-month high in May, outlook ‘improved significantly’ say analysts</a>

First amongst equals: This Adani group stock completely recovers from the Hindenburg effect

<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword>, India’s richest and the world’s third richest person, has been crowned ‘Asia’s busiest dealmaker’ by Bloomberg.</li><li><keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> stands out for being the only person on the Bloomberg billionaires list to have gained wealth this year – he added $44.6 billion to his wealth while the other nine combined lost $259.3 billion.</li><li>Key among Adani’s deals this year were the $10.5 billion ACC and Ambuja Cements acquisition from Swiss construction giant Holcim, and Israel’s Haifa port purchase.</li></ul>Gautam Adani’s rise to the top echelons of the world’s richest people has been meteoric. Adani is also the only person in the top ten in the Bloomberg’s Billionaires Index to have actually added to his wealth this year His group companies – spanning ports and energy – have been firing on all cylinders and making both Adani as well as other investors richer – Adani added $44.6 billion to his wealth in 2022 till date. In contrast, the other nine billionaires on Bloomberg’s Billionaires Index cumulatively lost $259.3 billion in the period. Overall, the seven listed Adani Group companies have added ₹8.55 lakh crore in market capitalisation this year. This stellar growth in his wealth saw him briefly rank as the second-richest person in the world, only behind Elon Musk. Currently ranked third on the Bloomberg Billionaires Index, Adani’s wealth is estimated at $121 billion, down from a peak of $150 billion, scaled in September this year. French business magnate and LVMH founder Bernard Arnault – with $165 billion and Elon Musk – with $138 billion are the only two people richer than Adani. Often pitted against India’s other richest man Mukesh Ambani, Adani has left Reliance Industries’ chief – whose wealth is estimated at $86.9 billion – far behind in the race of the richest. <cmsannotation type="cmsannotation" annotationid="‘Asia’s busiest dealmaker’" comment="subhead" text="‘Asia’s busiest dealmaker’">‘Asia’s busiest dealmaker’</cmsannotation> Success of the Ahmedabad-born Adani’s business empire has helped him top the list of the sixth edition of the ‘Bloomberg 50’ –a list <a href="https://www.bloomberg.com/features/2022-bloomberg-50/">of the most</a> influential people in global business this year. His aggressive acquisitions during the year have also earned him the tag of ‘Asia’s busiest dealmaker,’ with the crown jewel being the acquisition of cement giants ACC and Ambuja Cements from Swiss construction major Holcim for $10.5 billion. So far in 2022, Gautam Adani has struck deals across the ports, construction, media and energy businesses. Adani started the year with the listing of Adani Wilmar, an FMCG company, on the bourses in February. This was just in time to leverage the benefits of the Russia-Ukraine war, which sent edible oil prices boiling and<a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-revenue-rockets-fuelled-by-boiling-edible-oil-prices/articleshow/91260794.cms"> boosted</a> the company’s revenue and stock price. Later in July, Adani Ports and Special Economic Zone announced it had won a tender to privatise Israel’s Haifa port in a deal valued at $1.18 billion. “In the long run, this is a tremendous port as we anticipate Israel becoming a connection both for Europe and the Middle East, and therefore we stand to benefit from the new possible trade lanes that will be created,” said Karan Adani, CEO, Adani Ports and Special Economic Zone, announcing the purchase. The biggest deal of the year for the Adani Group, was the $10.5 billion acquisition of ACC and Ambuja Cements from Holcim in September. Together, these two companies propelled the Adani Group to become the<a href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms"> second-largest cement maker</a> in the country in terms of market capitalization, only behind UltraTech Cement. <cmsannotation type="cmsannotation" annotationid="$70-billion green energy ambitions and the ‘over-leveraged’ concerns" comment="subhead" text="$70-billion green energy ambitions and the ‘over-leveraged’ concerns">$70-billion green energy ambitions and the ‘over-leveraged’ concerns</cmsannotation> In September this year, Adani also announced an ambitious $70 billion new energy plan that would see the conglomerate setting up three giga factories – one each to manufacture solar modules, wind turbines and hydrogen electrolysers – by 2030. However, the billionaire faced a bazooka from CreditSights, a Fitch Ratings company, which came out with a<a href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-overly-ambitious-growth-plans-can-spiral-into-a-massive-debt-trap-fitch/articleshow/93725014.cms"> report</a> stating that the Adani Group’s ambitious growth plans could spiral into a debt trap. This spooked investors, resulting in the Adani Group companies<a href="https://www.businessinsider.in/stock-market/news/adani-group-sheds-94000-crore-in-value-after-a-report-says-its-deeply-over-leveraged/articleshow/93728528.cms"> shedding ₹94,000 crore</a> market capitalisation in a single day. A couple of weeks later, though, the research firm<a href="https://www.businessinsider.in/business/corporates/news/creditsights-tones-down-its-comments-on-adani-groups-debt-position-after-a-meeting-with-the-company/articleshow/94071491.cms"> toned down</a> its comments, revising estimates about the cash flow position of two group companies. More recently, the group’s flagship Adani Enterprises <a href="https://www.businessinsider.in/business/news/adani-to-raise-rs-20000-cr-through-fresh-share-issue/articleshow/95764529.cms">received</a> board approval to raise ₹20,000 crore via a follow-on public offer (FPO), pending shareholder approval, according to its stock exchange filing. These funds will be used for the Adani group’s green energy and digital business ambitions. All in all, it has been a busy year for Gautam Adani – from starting the year with a wealth of $77 billion to becoming the third-richest person in the world. It remains to be seen if 2023 will be the year Adani becomes the world’s richest person. SEE ALSO: <a href="https://www.businessinsider.in/india/news/ice-cubes-to-gulab-jamuns-and-50-lakh-kilos-of-organic-fruits-and-veggies-how-india-swiggyd-in-2022/articleshow/96275305.cms">Ice cubes to gulab jamuns and 50 lakh kilos of organic fruits and veggies – how India Swiggy’d in 2022</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-to-outpace-world-average-growth-in-2023-can-it-duck-global-headwinds/articleshow/96256621.cms">Indian economy to outpace world average growth in 2023 – Can it duck global headwinds?</a> <a href="https://www.businessinsider.in/business/corporates/news/tpg-to-acquire-adar-poonawalla-led-groups-housing-finance-arm-at-3900-crore-valuation/articleshow/96256578.cms">TPG to acquire Adar Poonawalla-led group’s housing finance arm at ₹3,900 crore valuation</a>

Gautam Adani: Man of the year

<keyword id="895682" type="General" weightage="20" keywordseo="Adani-Ports" source="Orion">Adani Ports</keyword> and Special Economic Zone on Tuesday reported a net profit of Rs 1,479 crore during Q3FY22, down six per cent year-on-year. In the same quarter last fiscal, the net profit was Rs 1,577 crore. The company's consolidated revenue during the quarter grew one per cent to Rs 3,797 crore, as compared to Rs 3,746 crore in the same period last fiscal. EBITDA fell two per cent during the quarter to Rs 2,431 crore. During Q3FY22, cargo volumes were subdued due to higher commodity prices and disruptions in the supply chain. <keyword id="1033941" type="General" weightage="20" keywordseo="karan-adani" source="Orion">Karan Adani</keyword>, Chief Executive Officer and <keyword id="253911" type="General" weightage="20" keywordseo="whole-time-director" source="Orion">Whole Time Director</keyword> of <keyword id="841459" type="General" weightage="20" keywordseo="apsez" source="Orion">APSEZ</keyword>, said: "Our learnings in 2020 helped us weather the storm and our operational expertise allowed us to continue our expansion. The addition of two ports in 2021 - Krishnapatnam and <keyword id="1073434" type="General" weightage="20" keywordseo="gangavaram" source="Orion">Gangavaram</keyword> in Andhra Pradesh on the east coast of India - to the ones on the west coast continued to tighten our pan-India presence." "Our under-construction port of Vizhinjam in Kerala, along with our new terminal in Colombo, Sri Lanka, will act as a new transshipment hub in southeast Asia." With an extensive focus on the use of renewable energies the company is on the road to achieving carbon neutrality by 2025 and becoming the world's most sustainable ports company, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/union-budget-2022-all-you-need-to-know-about-the-ev-battery-swapping-policy/slidelist/89274280.cms">Union Budget 2022: All you need to know about the EV battery swapping policy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/diamonds-will-now-be-cheaper-imitation-jewellery-and-umbrellas-costlier-here-are-the-highlights-on-how-budget-2022-will-impact-imports/articleshow/89272589.cms">Diamonds will now be cheaper, imitation jewellery and umbrellas costlier – here are the highlights on how Budget 2022 will impact imports</a>

Adani Ports' net profits decline by 6% in the third quarter of FY22

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and <keyword id="6365230" type="UNKNOWN" weightage="20" keywordseo="special-economic-zone">Special Economic Zone</keyword> Limited (APSEZ) on Monday announced the completion of the acquisition of <keyword id="9624334" type="COMPANY" weightage="20" keywordseo="krishnapatnam-port-company-ltd">Krishnapatnam Port Company Ltd</keyword>, (KPCL) for an enterprise value of Rs 12,000 crore. It will result in APSEZ having a controlling stake of 75 per cent in KPCL from the CVR Group and other investors. This acquisition will accelerate APSEZ's stride towards 500 MMT by 2025 and is another step in implementing APSEZ's stated strategy of cargo parity between west and east coasts of India, <keyword id="76451" type="COMPANY" weightage="20" keywordseo="Adani">Adani</keyword> Ports said in a regulatory filing. <keyword id="1033941" type="PERSON" weightage="20" keywordseo="Karan-Adani">Karan Adani</keyword>, Chief Executive Officer and Whole Time Director of APSEZ said: "This transformational acquisition enables us to roll out world class customer service to an increased customer base and provide pan-India solution to them. He added that the company's experience of turning around acquisitions like Dhamra and Kattupalli ports will enable it in harnessing the potential of KPCL. "With a vast waterfront and land availability of over 6,700 acres, KPCL is capable of replicating Mundra and would be future ready to handle 500 MMT. We will replicate our operations and maintenance philosophy at KPCL, continue to focus on environment, reduce emission levels and have zero tolerance for fatalities and thus improve returns to stakeholders," Adani said.

Adani Ports completes ₹12,000 crore  acquisition of Krishnapatnam Port Company

The <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and Special Economic Zone (APSEZ) Ltd. is acquiring the 58.1 per cent stake held by D.V.S. Raju and family in the Gangavaram Port Limited (GPL). The acquisition is valued at ₹3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, had announced acquisition of Warburg Pincus's 31.5 per cent stake in GPL on March 3 and together with this acquisition, APSEZ would have 89.6 per cent stake in GPL. GPL is located in the northern part of <keyword id="37102" type="LOCATION" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> next to Vizag Port. It is the second largest non-major port in Andhra Pradesh with a 64 MMT capacity established under concession from the Government of Andhra Pradesh (GoAP) that extends till 2059. It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, GPL operates nine berths and has free hold land of 1,800 acres. With a master plan capacity for 250 MMTPA with 31 berths, GPL also has headroom to support future growth. GPL handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. GPL is the gateway port for a hinterland spread over eight states across eastern, southern and <keyword id="92952" type="ORGANIZATION" weightage="20" keywordseo="Central-India">central India</keyword>. The acquisition will help GPL to benefit from APSEZ's pan-India footprint, logistics integration, customer centric philosophy, operational efficiencies and strong balance sheet to deliver a combination of high growth by enhancing market share and add additional cargo types and improved margins and returns. In FY20, GPL had a cargo volume of 34.5 MMT, revenue of ₹1,082 crore, EBITDA of ₹634 crore (59 per cent margin) and PAT of ₹516 crore GPL is debt free with a cash balance of over ₹500 crore. The company has a paid up share capital of 51.7 crore shares of which 58.1 per cent is owned by DVS Raju and Family (Promoter), 10.4 per cent by the Government of Andhra Pradesh and 31.5 per cent by Warburg Pincus. APSEZ announced acquisition of 31.5 per cent stake of Warburg Pincus on March 3 for ₹120/share and shall acquire the D.V.S. Raju stake of 30 crore shares (58.1 per cent) also at ₹120/share which works out to a consideration of ₹3,604 crore. The transaction implies EV/EBITDA multiple of 8.9x and P/E multiple of 12.0x (based on FY20 figures) and is a value accretive transaction for APSEZ shareholders. Karan <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword>, CEO and Whole Time Director of APSEZ said, "The acquisition of GPL is a further augmentation of our vision of capitalising on an expanded logistics network effect that generates greater value as it expands. Every additional node that we are able to add to our network allows us to deliver a greater level of integrated and enhanced solutions to our customers. In this context, GPL is a tremendous addition to our portfolio. "The associated hinterland we will now be able to tap into is one of the fastest growing in the eastern region and with the logistic synergies APSEZ brings to the table, GPL has a potential to become a 250 MMT port. This will undoubtedly help accelerate the industrialisation of AP. The Raju family has built a great port and we will continue to expand the world class asset that has been initiated by them." APSEZ, a part of globally diversified Adani Group has evolved from a port company to Ports and Logistics Platform for India. It is the largest port developer and operator in India with 12 strategically located ports and terminals -- Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in <keyword id="6357961" type="LOCATION" weightage="20" keywordseo="odisha">Odisha</keyword>, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> and Kattupalli and Ennore in Chennai -- represent 24 per cent of the country's total port capacity. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-vs-amazon-future-retail-gets-a-breather-for-now-as-delhi-high-court-gives-the-company-time-until-the-supreme-court-hearing/articleshow/81627752.cms">Future Retail gets a breather for now as Delhi High Court gives the company time until the Supreme Court hearing – markets celebrate the order</a> <a href="https://www.businessinsider.in/business/auto/news/india-electric-vehicle-startups-charge-up-with-funding-as-ev-sales-go-up/articleshow/81643839.cms">India’s electric vehicle startups charge up with funding as everyone from the government to Mukesh Ambani and Elon Musk have their eyes on the sector</a>

You Searched For "Karan Adani" and got 10 results

Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

BI India Bureau

Gautam Adani tells us what shines better than wealth - his granddaughter's eyes

IANS

Adani to set up cement plants, data centre in Andhra Pradesh

PTI

Adani ports and Special Economic Zone Ltd. records stellar H1 FY24 performance

ANI

Adani group signs MoU for access to cutting-edge tech of Israeli startups

Eetika Kapoor

First amongst equals: This Adani group stock completely recovers from the Hindenburg effect

Rounak Jain

Gautam Adani: Man of the year

Rounak Jain

Adani Ports' net profits decline by 6% in the third quarter of FY22

IANS

Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company

IANS

Adani Ports to acquire 58% stake in Andhra Pradesh's Gangavaram port

IANS

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