<keyword id="19919864" type="General" weightage="100" keywordseo="Adani-Green-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy" meta.hostid="261" meta.entityid="Adani Green Energy">Adani Green Energy</keyword> on Thursday posted nearly a 95 per cent rise in consolidated net <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> to Rs 629 crore for the June quarter, on the back of higher revenues. The company reported Rs 323 crore consolidated net profit for the quarter ended on June 30, a BSE filing showed. Total income rose to Rs 3,122 crore in the quarter from Rs 2,550 crore in the same period a year ago. <keyword id="19967296" type="General" weightage="20" keywordseo="adani-green" source="keywords">Adani Green</keyword> Energy <keyword id="22544556" type="General" weightage="20" keywordseo="CEO-Amit-Singh" source="keywords">CEO Amit Singh</keyword> said in the statement, "Adani Green is well on track to achieve its <keyword id="22544557" type="General" weightage="20" keywordseo="2030-capacity-target" source="keywords">2030 capacity target</keyword> of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation." The operational capacity has expanded 31 per cent to <keyword id="22544558" type="General" weightage="20" keywordseo="10934-MW" source="keywords">10,934 MW</keyword>, with greenfield additions, including 2,000 MW of <keyword id="20322531" type="General" weightage="20" keywordseo="solar-capacity" source="keywords">solar capacity</keyword> in <keyword id="19966000" type="General" weightage="20" keywordseo="khavda" source="keywords">Khavda</keyword>, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat, the statement said. The <keyword id="21517894" type="General" weightage="20" keywordseo="energy-sales" source="keywords">energy sales</keyword> increased 22 per cent to 7,356 million units from 6,023 MU in the year-ago period.

Adani Green Energy profit up nearly 95% to Rs 629 cr in Q1

The world is in a race to turn over a net zero leaf. While switching to electric vehicles and other appliances does help, most of the energy that powers this tech continues to come from carbon-dirty sources such as fossil fuel-powered energy plants. In a bid to accelerate our transition to green <keyword id="34553" type="General" weightage="100" keywordseo="renewable-energy" source="Orion">renewable energy</keyword>, the <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword> has announced the world's largest hybrid power park in <keyword id="6354766" type="General" weightage="50" keywordseo="gujarat" source="Orion">Gujarat</keyword>'s Khavda desert in the state's Kutch district. "It will be the most complex and ambitious project that we have ever executed. Spread over 72,000 acres, this project will be capable of generating 20 GW of <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">green energy</keyword>, and we intend to build it faster than any project in our execution history,” remarks Adani Group chairman <keyword id="111343" type="General" weightage="80" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, according to a Financial Express report. Hybrid power plants receive their energy from more than one source. In this case, the <keyword id="18069988" type="General" weightage="50" keywordseo="gujarat-hybrid-renewable-energy-park" source="Orion">Gujarat Hybrid Renewable Energy Park</keyword> is expected to generate its power from a vast array of solar panels and wind turbines. Adani Green Energy (<keyword id="4621631" type="General" weightage="20" keywordseo="agel" source="Orion">AGEL</keyword>), the renewable energy division of the Adani Group, is one of the developers of the project. Early sources had mentioned an allocation of 19,000 hectares of land to AGEL. While no further details were discussed in the recent shareholder meeting, estimates have shown that the park could generate around one lakh jobs and account for around 5 crore tonnes of carbon emission reductions every year, essentially churning immense wealth out of the wasteland. India has set an ambitious goal of achieving 500 GW of renewable energy by 2030, which would include 140 GW from wind and 280 GW from <keyword id="6357019" type="General" weightage="20" keywordseo="solar-energy" source="Orion">solar energy</keyword>. While the government maintains that they remain "serious" about this goal, many experts lament that many challenges, including land and material acquisition, could present considerable roadblocks.

Khavda desert in Gujarat to receive new life after Adani plans to build world’s biggest hybrid renewable energy park

<img class="gwt-Image" src="/photo/27121837.cms" /> When the winter is right upon us and holidays are back with a bang, can festivals be far behind? It is <keyword id="24087" type="COMPANY" weightage="100" keywordseo="carnival">carnival</keyword> time across India – a time to celebrate and share all things good in true Yuletide spirit. So we bring you seven offbeat <keyword id="6385705" type="UNKNOWN" weightage="100" keywordseo="events">events</keyword> – a mix of modern concepts and traditional happenings that celebrate the varied and vibrant art and culture of the country. And then there will be Christmas <keyword id="192" type="UNKNOWN" weightage="100" keywordseo="Celebrations">celebrations</keyword> all over India. Let go of your toil &amp; care, and connect to retune your life. Happy holidays! 
 
Life at its exotic best – <keyword id="78069" type="UNKNOWN" weightage="100" keywordseo="Rann-Utsav">Rann Utsav</keyword> (<keyword id="6354766" type="COMPANY" weightage="100" keywordseo="Gujarat">Gujarat</keyword>) It’s a desert <keyword id="58" type="ENTERTAINMENT" weightage="100" keywordseo="Festival">festival</keyword> with a difference. The white salt marsh, spread across some 7,000 sq km in Gujarat, attracts thousands to the Great Rann every year, revealing the many-hued life and culture of <keyword id="6361801" type="COMPANY" weightage="100" keywordseo="Kutch">Kutch</keyword>. The journey from Bhuj will take you to the colourful Tent City at <keyword id="1967990" type="UNKNOWN" weightage="100" keywordseo="Dhordo-village">Dhordo village</keyword> and other exotic locations such as <keyword id="1967991" type="PERSON" weightage="100" keywordseo="Hodko">Hodko</keyword>, <keyword id="1967994" type="UNKNOWN" weightage="100" keywordseo="Bhirandiyara">Bhirandiyara</keyword>, <keyword id="144766" type="CITY" weightage="100" keywordseo="Khavda">Khavda</keyword>, <keyword id="476012" type="UNKNOWN" weightage="100" keywordseo="Kalo-Dungar">Kalo Dungar</keyword> (<keyword id="226408" type="COMPANY" weightage="100" keywordseo="Black-Hills">Black Hills</keyword>) and the <keyword id="656787" type="UNKNOWN" weightage="100" keywordseo="Mandvi-beach">Mandvi beach</keyword>. The great white saltpan in the distance looks mesmeric and nearby, you can catch the haunting tunes played by the locals on their jodia pava (twin-flutes). While you are here, <keyword id="76631" type="UNKNOWN" weightage="100" keywordseo="Folk-music">folk music</keyword>, dances, camel safaris and wildlife viewing will fill your days. A stay at the bhunga (egg-shaped mud huts), a taste of the Kutchi cuisine and the exquisite local art will enthral you further. In mid-January, Kutch celebrates the traditional <keyword id="4062388" type="UNKNOWN" weightage="100" keywordseo="Kite-festival">kite festival</keyword> <keyword id="90750" type="UNKNOWN" weightage="100" keywordseo="Uttarayan">Uttarayan</keyword> and you can watch the spectacular view as thousands of flying beauties dot the sky. 
When: Dec 15-March 18 
What it costs: Rs 7,900-22,500 plus taxes per person on twin sharing basis. 
Image: Rann-utsav.com 
 
<img class="gwt-Image" src="/photo/27120067.cms" /> 
 
Shake a leg at <keyword id="91958" type="UNKNOWN" weightage="100" keywordseo="Sunburn-festival">Sunburn Festival</keyword> (<keyword id="826" type="CITY" weightage="100" keywordseo="Goa">Goa</keyword>) If the <keyword id="24879" type="CITY" weightage="100" keywordseo="Sun">sun</keyword>, seas and <keyword id="6354530" type="CITY" weightage="100" keywordseo="music">music</keyword> allure you to distraction, it’s time to head for the coastal capital for a rocking experience. Sunburn is the coolest <keyword id="881528" type="UNKNOWN" weightage="100" keywordseo="electronic-dance-music-festival">electronic dance music festival</keyword> to invade the <keyword id="1834821" type="UNKNOWN" weightage="100" keywordseo="indian-beaches">Indian beaches</keyword>, now entering Season 7 with pomp and style. With custom stages in the making, numerous genres of music on offer and some world famous DJs &amp; <keyword id="49237" type="PERSON" weightage="100" keywordseo="Artistes">artistes</keyword> debuting, it is surely going to be an electrifying extravaganza that could be the party of parties in Goa. Get ready for some fun, frolic and froth even as the music captures your soul and you can’t stop dancing. 
When: Dec 27-29 
What it costs: Rs 9,250-15,500 per person. 
Image: Wikimedia Commons 
 
<img class="gwt-Image" src="/photo/27120166.cms" /> 
 
Super fun at <keyword id="1968003" type="UNKNOWN" weightage="100" keywordseo="Vh1-Supersonic">Vh1 Supersonic</keyword> (Goa) Another electrifying <keyword id="6356630" type="ORGANIZATION" weightage="100" keywordseo="EDM">EDM</keyword> (<keyword id="42249" type="COMPANY" weightage="100" keywordseo="electronic-dance-music">electronic dance music</keyword>) event that will be held in Goa this year. A super line-up of artistes and DJs from all over the globe will keep you spellbound with some rocking music while dancing gets even better when you are grooving on the <keyword id="8688" type="ORGANIZATION" weightage="100" keywordseo="SEA">sea</keyword> shore. And guess who is leading the super fest? None other than the electronic music promoter <keyword id="135873" type="PERSON" weightage="100" keywordseo="Nikhil-Chinapa">Nikhil Chinapa</keyword> who has left Sunburn and is now starting his own show. The <keyword id="1968004" type="UNKNOWN" weightage="100" keywordseo="Debut-edition">debut edition</keyword> this year is purely for <keyword id="6355317" type="ENTERTAINMENT" weightage="100" keywordseo="Dance">dance</keyword> music fans, but it could be a <keyword id="1968005" type="UNKNOWN" weightage="100" keywordseo="Multi-genre-festival">multi-genre festival</keyword> within the next year or two. So let’s wait and watch the magic happen. 
When: Dec 26-30 
What it costs: Keep a tab, the organisers will soon come up with the ticket pricing. 
Image: Gosupersonic.in 
 
<img class="gwt-Image" src="/photo/27120247.cms" /> 
 
Wellness fest at Zambhala (Goa) If you are seeking wellness and harmony this <keyword id="6389817" type="ORGANIZATION" weightage="100" keywordseo="new-year">New Year</keyword>, the <keyword id="1968009" type="UNKNOWN" weightage="100" keywordseo="Zambhala-Yoga">Zambhala Yoga</keyword>, <keyword id="1968008" type="ENTERTAINMENT" weightage="100" keywordseo="Music-and-Life-Spirit-Festival">Music and Life Spirit Festival</keyword> could be the <keyword id="1968010" type="UNKNOWN" weightage="100" keywordseo="Lifestyle-event">lifestyle event</keyword> for you. Debuting this December, it is going to be an annual festival that brings together <keyword id="1968011" type="UNKNOWN" weightage="100" keywordseo="Yoga-experts">yoga experts</keyword>, <keyword id="551676" type="UNKNOWN" weightage="100" keywordseo="spiritual-teachers">spiritual teachers</keyword>, <keyword id="25205" type="PERSON" weightage="100" keywordseo="doctors">doctors</keyword>, <keyword id="21324" type="UNKNOWN" weightage="100" keywordseo="Therapists">therapists</keyword>, <keyword id="145052" type="UNKNOWN" weightage="100" keywordseo="healers">healers</keyword>, <keyword id="6367711" type="UNKNOWN" weightage="100" keywordseo="Musicians">musicians</keyword> and <keyword id="1792" type="ORGANIZATION" weightage="100" keywordseo="artists">artists</keyword> from all over the globe. So that one may nurture the power of self and live with positive energy. The yoga part of the festival is especially interesting as it will focus on various methods of yoga and <keyword id="6388212" type="UNKNOWN" weightage="100" keywordseo="meditation">meditation</keyword> – all curated to ensure a better and <keyword id="1968013" type="UNKNOWN" weightage="100" keywordseo="Healthier-living">healthier living</keyword>. Then there will be talks and workshops on <keyword id="639756" type="UNKNOWN" weightage="100" keywordseo="life-skills">life skills</keyword> and <keyword id="1968014" type="UNKNOWN" weightage="100" keywordseo="Alternative-healing">alternative healing</keyword>. Overall, quite a new concept and could be worth joining. 
When: Dec 21-22 
What it costs: Rs 2,800 per person for participation; day passes available at venue for Rs 1,600 while kids under the age of 12 can attend for free. Event to be held at Bardo, Morjim, in North Goa. 
Image: Zambhala.in 
 
<img class="gwt-Image" src="/photo/27120306.cms" /> 
 
Melody, masti at <keyword id="1968016" type="UNKNOWN" weightage="100" keywordseo="Mt-Abu-Winter-Festival">Mt Abu Winter Festival</keyword> (<keyword id="6355588" type="ORGANIZATION" weightage="100" keywordseo="Rajasthan">Rajasthan</keyword>) Come December and this hill resort in the heart of Rajasthan pulsates with festive notes. A grand procession marks the beginning, diyas are set floating on the <keyword id="455501" type="UNKNOWN" weightage="100" keywordseo="Nakki-Lake">Nakki Lake</keyword> in the evenings and spectacular <keyword id="54214" type="UNKNOWN" weightage="100" keywordseo="Fireworks">fireworks</keyword> light up the night sky. <keyword id="29645" type="UNKNOWN" weightage="100" keywordseo="Performers">Performers</keyword> and <keyword id="6360759" type="COMPANY" weightage="100" keywordseo="artisans">artisans</keyword> from all over the state assemble here, bringing to life the rich culture and traditions of this princely state. Give in to the serene magic of music – the folk, the shehnai and the <keyword id="6401082" type="PERSON" weightage="100" keywordseo="Sufi">Sufi</keyword> strains. Or join the Rajasthani dancers with full zest. The thrilling <keyword id="1968020" type="UNKNOWN" weightage="100" keywordseo="Fire-dance">fire dance</keyword> of Bikaner, the graceful <keyword id="1968022" type="UNKNOWN" weightage="100" keywordseo="Ghoomer">Ghoomer</keyword> and <keyword id="1968023" type="UNKNOWN" weightage="100" keywordseo="Terahtali">Terahtali</keyword>, the lively <keyword id="1288524" type="UNKNOWN" weightage="100" keywordseo="Kalbelia">Kalbelia</keyword> and the fascinating <keyword id="1622221" type="UNKNOWN" weightage="100" keywordseo="Gair">Gair</keyword> of Mewar are sure to take your breath away. For the adventurous, there’s a long list of contests – rowing, horse races, tug-of-war, gilli danda, <keyword id="6799761" type="SPORT" weightage="100" keywordseo="Kite-flying">kite flying</keyword> and even 20-20 cricket. Shop for exquisite <keyword id="6502685" type="UNKNOWN" weightage="100" keywordseo="Handicraft">handicraft</keyword> and taste the delectable local food to make the most of this colourful carnival. 
When: Dec 29-31 
What it costs: A trip to <keyword id="434732" type="PERSON" weightage="100" keywordseo="Mt-Abu">Mt Abu</keyword> suits every budget and starts from Rs 7,000-8,000 per person on twin sharing basis. 
Image: Wikimedia Commons 
 
<img class="gwt-Image" src="/photo/27120323.cms" /> 
 
The beat of sun, surf &amp; ruins – <keyword id="1968024" type="UNKNOWN" weightage="100" keywordseo="Mamallapuram-Dance-Festival">Mamallapuram Dance Festival</keyword> (<keyword id="12864" type="COMPANY" weightage="100" keywordseo="Chennai">Chennai</keyword>) If you missed the Konark dance festival in Odisha earlier this month, travel south to the beach town of <keyword id="385028" type="CITY" weightage="100" keywordseo="Mamallapuram">Mamallapuram</keyword> (also known as <keyword id="73041" type="CITY" weightage="100" keywordseo="Mahabalipuram">Mahabalipuram</keyword>), around 60 km south of Chennai, and soak in the <keyword id="1968025" type="UNKNOWN" weightage="100" keywordseo="Open-air-dance-festival">open air dance festival</keyword>. One can never find a more majestic backdrop with the <keyword id="1968028" type="UNKNOWN" weightage="100" keywordseo="Monolithic-rock-sculptures">monolithic rock sculptures</keyword> and temples rising above the golden shore and the endless waves breaking nearby. This ancient port town of the Pallava dynasty hosts a month-long festival that brings to life classical and <keyword id="522230" type="UNKNOWN" weightage="100" keywordseo="folk-dances">folk dances</keyword> from all over India – <keyword id="14944" type="PERSON" weightage="100" keywordseo="Bharatanatyam">Bharatanatyam</keyword>, <keyword id="6386949" type="COMPANY" weightage="100" keywordseo="Kuchipudi">Kuchipudi</keyword>, <keyword id="255053" type="CITY" weightage="100" keywordseo="Kathakali">Kathakali</keyword>, <keyword id="1300412" type="UNKNOWN" weightage="100" keywordseo="mohini-attam">Mohini Attam</keyword>, <keyword id="6354459" type="ORGANIZATION" weightage="100" keywordseo="Odissi">Odissi</keyword>, <keyword id="210" type="PERSON" weightage="100" keywordseo="Kathak">Kathak</keyword> and more. The exact venue is close to <keyword id="1968030" type="UNKNOWN" weightage="100" keywordseo="Arjunas-Penance">Arjuna’s Penance</keyword>, a bass relief sculpted on the face of two gigantic adjacent rocks. While in Mamallapuram, you must visit Cholamadal artists’ village and shop for some exquisite handcrafted items. 
When: Dec 27-Jan 26 
What it costs: Most tour operators offer customised pricing, depending on itinerary and package; may cost around Rs 7,000 per person on twin sharing basis. 
Image: Tamilnadutourism.org 
 
<img class="gwt-Image" src="/photo/27120377.cms" /> 
 
A symphony of Indian traits – <keyword id="1968032" type="UNKNOWN" weightage="100" keywordseo="Cochin-Carnival">Cochin Carnival</keyword> (Kerala) This is one colourful carnival that calls for fun, feasting and revelry. It’s an age-old event and dates back to the colonial days when the Portuguese held <keyword id="9735" type="UNKNOWN" weightage="100" keywordseo="new-year-celebrations">New Year celebrations</keyword>. Now it offers loads of <keyword id="1783440" type="UNKNOWN" weightage="100" keywordseo="carnival-games">carnival games</keyword>, <keyword id="1968033" type="UNKNOWN" weightage="100" keywordseo="Beach-games">beach games</keyword>, races (how about some dirt biking), dancing and fireworks. Locals dress up in <keyword id="1968034" type="UNKNOWN" weightage="100" keywordseo="Fancy-costumes">fancy costumes</keyword> and the grand finale includes a huge procession on New Year’s Day – complete with drum beats, music and embellished elephants. But just like a full-blooded carnival, it has more to offer that attracts thousands of visitors from all over the globe. While the North and <keyword id="1968035" type="UNKNOWN" weightage="100" keywordseo="South-Indian-folk-dances">South Indian folk dances</keyword> set the stages on fire, a three-month-long <keyword id="1968037" type="UNKNOWN" weightage="100" keywordseo="International-exhibition-of-contemporary-art">international exhibition of contemporary art</keyword> (they call it <keyword id="1055137" type="UNKNOWN" weightage="100" keywordseo="Kochi-Muziris-Biennale">Kochi-Muziris Biennale</keyword>) was also held across the state in 2012-13. So it should be back next December to delight <keyword id="1643" type="UNKNOWN" weightage="100" keywordseo="Art-lovers">art lovers</keyword> and Aspinwall in <keyword id="6361494" type="UNKNOWN" weightage="100" keywordseo="Fort-Kochi">Fort Kochi</keyword> is expected to be the main venue for the second edition. 
When: Dec 25-Jan 1 at Fort Kochi. 
What it costs: A week’s vacation in Kerala may cost around Rs 16,000 per person on twin sharing basis (excluding airfare). 
Image: Keralatourism.org 
 
<img class="gwt-Image" src="/photo/27120517.cms" />

Seven
Indian Festivals You Must Not Miss This December

<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> released the composite result and Credit Compendium of Adani Group of <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> for Q1 FY25. The Results Compendium provides a comprehensive overview of the <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> of the Adani Portfolio, while the Credit Compendium offers in-depth insights into the portfolio's robust credit strength. According to the results, the strong performance for the quarter was led by <keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises" meta.hostid="261" meta.entityid="Adani Enterprises">Adani Enterprises</keyword>' emerging businesses, including solar and wind manufacturing. In a press release, the company stated that it has emerged as India's largest player in the fully integrated <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> chain, as well as in the airports and roads sectors. The company added that AEL's infrastructure businesses' steadily rising contribution is playing a significant role in this growth, with <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> expanding by 69.98 per cent YoY. These fast-growing businesses now contribute 13.3 per cent to the portfolio-level EBITDA, up from 7.2 per cent a year ago. The overall EBITDA of Adani Group companies surged by 32.87 per cent year-on-year (YoY) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year. The Adani Group highlighted that its 'Core Infrastructure' platform comprises AEL's (Adani Enterprises) Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports &amp; SEZ) businesses. The Solar module manufacturing business of the group saw module sales rise by 125 per cent YoY in the quarter. Furthermore, the operationalization of photovoltaic cell lines lowered costs, resulting in higher profitability. The airport business also continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports. Adani Enterprises' performance indicates that in airports, the annual passenger movement across 7 airports crossed 90 million for the first time. During the quarter, eight new routes, six new airlines, and 13 new flights were added across all seven airports. Additionally, 25 new brands were introduced at Lucknow airport after the inauguration of Terminal 3. The road business achieved its highest-ever 730 lane-km construction during this quarter. In the Adani Green Energy segment, construction work for a 500 MW hydro pump storage has commenced, with a 31 per cent YoY capacity addition during the quarter. Another 250 MW wind capacity was operationalized in July at Khavda, bringing the total capacity to 11.2 GW. Adani Energy Solutions stated that the Khavda-Bhuj Transmission Line (KBTL) is fully commissioned, enabling 3 GW green power evacuation from Khavda. The 1,765 ckm Warora Kurnool Transmission Line (WKTL) was also fully commissioned, strengthening the national grid by ensuring seamless power flow between the western and southern regions. Adani Ports &amp; SEZ reported that Vizhinjam port, India's first transhipment port equipped with South Asia's most advanced container-handling technology, was formally commissioned in July and will become operational in November. In the Cements segment, the promoters infused Rs 15,000 crore in two tranches in Ambuja Cements in March and April, fully subscribing to the warrant program and infusing a total of Rs 20,000 crore since the acquisition in September 2022. The company also acquired Penna Cement, increasing the total capacity to 89 MTPA. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

EBITDA of Adani Group companies surged by 32.87% year-on-year to ₹22,570 crore

<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> plans to invest about Rs 1.3 lakh crore across its portfolio companies in this financial year, as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, the group's CFO said. The investment will range from ports to energy, airports, commodities, cement and media. 70% of this will met through internal cash generation and the remaining will be taken care through debt, group CFO Jugeshinder 'Robbie' Singh noted. The group will look to refinance $3-4 billion of debt maturing in the year and raise an additional $1 billion in project financing, he said, adding the annual $2-2.5 billion of equity infusion by bringing in new investors is also likely to continue. "This year will be more about asset completion," the CFO continued. <keyword id="34553" type="General" weightage="20" keywordseo="Renewable-energy" source="Orion">Renewable energy</keyword> firm <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword> Green will complete 6-7 GW project, while the solar wafer manufacturing unit will also attain scale. Also, the new airport at Mumbai will be completed. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40% higher than what the portfolio is estimated to have incurred in FY24. The group had previously guided a $100 billion capex over the next 7-10 years. Most of this investment is going to go into the group's fast growing businesses -- renewable energy, <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> and airports and infrastructure. As much as 70% of the planned capex will go into its green portfolio - primarily <keyword id="19904987" type="General" weightage="20" keywordseo="renewable-power" source="keywords">renewable power</keyword>, green hydrogen, green evacuation. Of the remaining 30%, the majority will be spent towards airports and ports businesses. Adani group companies posted a record 45% rise in pre-tax profit (Ebitda) to Rs 82,917 crore (about $10 billion) in FY24, Singh said. Emerging from a damning report of a US short seller <keyword id="191733" type="General" weightage="20" keywordseo="Hindenburg" source="Orion">Hindenburg</keyword>, which hit the market value of its listed companies, Adani group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54% A school drop-out, group chairman <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> started out as a commodities trader and rose to be counted amongst world's richest with an empire spanning across ports, power generation, airports, mining, renewables, gas, data centres, media and cement. Today, Adani group is the world's second largest solar power company, it is the largest airport operator with 25% of passenger traffic and 40% of air cargo, the largest ports and logistics company with 30% market share, largest integrated energy player, and the country's second largest cement manufacturer. With strong emphasis on <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> transition, it will be allocating more than 70% of this $100 billion to its green businesses including renewable power, green hydrogen, and green evacuation transmission lines. The conglomerate is building the world's largest renewable park at Khavda, Gujarat, spanning over 530 square kilometers, which is about five times the size of the city of Paris. A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business. With a portfolio boasting eight airports including the upcoming <keyword id="57321" type="General" weightage="20" keywordseo="navi-mumbai" source="Orion">Navi Mumbai</keyword> airport and 14 domestic ports, Adani wants to further solidify its presence in these sectors.

Adani to invest Rs 1.3 lakh crore in FY25 across its companies

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword> will invest more than USD 100 billion (around Rs 835 crore) in <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword> projects and manufacturing capability to produce every major component required for <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">green energy</keyword> generation, its chairman said on Wednesday. Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolysers for making green hydrogen, wind power turbines and solar panels. Green hydrogen, which is made by splitting hydrogen from water with the help of electrolysers powered by clean energy, is seen as a potential panacea for decarbonising the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale. "The next decade will see us invest more than USD 100 billion in the energy transition space and further expand our integrated <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> value chain that today already spans the manufacturing of every major component required for green energy generation," he said. The coal-to-ports group wants to produce the "world's least expensive green electron" that will become the feedstock for several sectors that must meet the sustainability mandate. "And to make this happen, we are already building the world's largest single-site renewable energy park in Khavda, in the district of Kutch (in Gujarat). Just this single location will generate 30 GW of power, thereby taking our total <keyword id="19951340" type="General" weightage="20" keywordseo="renewable-energy-capacity" source="keywords">renewable energy capacity</keyword> to 50 GW by 2030," he said. Adani said the energy transition space will fundamentally change the global energy landscape forever. "The global transition market was valued at approximately USD 3 trillion in 2023 and is expected to grow to nearly USD 6 trillion by 2030, and thereafter double every 10 years till 2050." "As many of you know, in the case of India, our country aims to install 500 gigawatts of renewable energy capacity by 2030. This ambitious target will require annual investments of over USD 150 billion dollars. The transition to green energy in India is expected to generate millions of new jobs in sectors such as solar and wind, energy storage, hydrogen and its derivatives, EV charging stations, as well as grid infrastructure development," he said. On digital infrastructure, he said data is indeed the new oil and at the heart of all the action is the Data Centre - the critical infrastructure needed to power all forms of computational needs, especially AI workloads for machine learning algorithms, natural language processing, computer vision, and deep learning. All of this is dependent on the ability to process data at an unprecedented speed and scale which are the precise capabilities that data centres provide. However, this will need massive amounts of energy, making the data centre business the largest energy consuming industry in the world, he said. "This makes the energy transition even more complex and is raising electricity prices, thereby adding to the already high prices because of the combined impact of climate change and demand growth," Adani said. The billionaire said the infrastructure required for energy transition and the infrastructure required for digital transformation are now inseparable as the technology sector becomes the largest consumer of the precious green electrons. Adani group's digital footprint will span industrial clouds across each of its businesses that it will productise and then take to market, operational technology cybersecurity offerings, super apps to leverage its B2C businesses across wide variety of consumer facing businesses, Artificial Intelligence labs to capitalise on India's fast emerging expertise to provide AI services to the world, and Data Centres that will form the backbone of the energy intensive digital revolution. "In fact, it is anticipated that by the year 2030, the world will need 100 to 150 GW of additional green energy just for the AI data centres. We already have India's largest order book for data centres and are now in discussions for additional gigawatt-scale green AI data centres which we are uniquely positioned to deliver," he said.

Adani Group to invest 100 billion US dollars in energy transition, manufacturing green energy capability: Gautam Adani

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="adani-power" source="keywords">Adani Power</keyword> settled 5 per cent higher on Wednesday after the company said it has commissioned 2,000 MW of solar capacity in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> that has made it the first company in India with over 10,000 MW of renewable energy capacity. The stock of the company jumped 5 per cent each to end at Rs 617.85 and 617.75 apiece -- its upper circuit limit -- on the NSE and BSE. The scrip also hit a 52-week high on the bourses. It jumped 15.3 per cent so far this year, while in the last one year, it surged 214 per cent. At the close of the trading session, Adani Power's market valuation added Rs 11,339.4 crore to Rs 2,38,262.40 crore. In the volume trade, 90.26 lakh equity shares were traded on the NSE, while 6.79 lakh shares were traded on the BSE during the day. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="bse-sensex" source="keywords">BSE Sensex</keyword> benchmark fell 27.09 points, or 0.04 per cent, to close at 73,876.82. The broader Nifty went lower 18.65 points to end at 22,434.65. On Wednesday, <keyword id="19895436" type="General" weightage="20" keywordseo="adani-green-energy-ltd" source="keywords">Adani Green Energy Ltd</keyword> said it has commissioned 2,000 MW of solar capacity at the giant Khavda solar park in Gujarat that has made it the first company in India with over 10,000 MW of renewable energy capacity. The company now has an operating portfolio of 10,934 MW, the largest in India. It has brought 2,848 MW renewables capacity on stream in FY24, according to a company statement. The firm is aiming for 45 GW renewable energy by 2030.

Adani Power shares climb 5%, and hits a 52-week high

<keyword id="19895436" type="General" weightage="20" keywordseo="Adani-Green-Energy-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy Ltd" meta.hostid="261" meta.entityid="Adani Green Energy Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago. The company's expenses surged to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35 per cent year-on-year to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF. The revenue from power supply rose 23 per cent to Rs 1,575 crore from Rs 1,941 crore earlier. <keyword id="19919864" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="keywords">Adani Green Energy</keyword> Ltd Chief Executive Officer Amit Singh said, "We have deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. "Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum." The company aims to commission at least 5 GW of hydro-pumped storage projects by 2030, and set a higher target of 50 GW RE capacity by 2030, which will contribute towards India's non-fossil fuel capacity target of 500 GW, he said. AGEL further said it has commenced construction work on its first hydro pumped storage project (PSP) of 500 MW on the Chitravathi river. The project is located at Peddakotla in Sri Sathya Sai district of Andhra Pradesh. The existing reservoir will act as the lower reservoir and the upper reservoir is to be developed. The generation capacity will be 500 MW with estimated 6.2 generation hours in a day. All necessary approvals, including the final DPR approval are in place and financial closure has been achieved for the project. Part of Adani Group, AGEL is India's largest and one of the leading renewable energy companies in the world enabling clean energy transition. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a>

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

<keyword id="4343578" type="General" weightage="90" keywordseo="adani-green" source="Orion">Adani Green</keyword> Energy on Monday posted nearly 149% rise in its consolidated net profit at Rs 371 crore in the July-September quarter, compared to a year ago, mainly due to higher sales. The consolidated net profit of the company stood at Rs 149 crore in the quarter ended on September 30 last year, a BSE filing showed. Total income rose to Rs 2,589 crore in the reporting quarter from Rs 1,684 crore in the same period a year ago. The sale of energy increased to 5,737 million units (MU) during the period from 3,067 MU in the year-ago quarter. The sale of energy has increased by 78% YoY (year on year) to 11,760 MU in H1 FY24 (April-September 2023), primarily backed by strong capacity addition and improved CUF (capacity utilisation factor) across solar, wind and hybrid portfolios, the company stated. "In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000-plus. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India's largest and one of the most efficient 5.2 MW wind turbine. These efforts will drive us towards achieving the lowest levelised cost of energy," said <keyword id="217165" type="General" weightage="80" keywordseo="amit-singh" source="Orion">Amit Singh</keyword>, CEO, Adani <keyword id="60895" type="General" weightage="50" keywordseo="green-energy" source="Orion">Green Energy</keyword>. Adani Green Energy, a part of India-based Adani Group, has one of the largest global renewable portfolios with overall locked-in portfolio of 20.4 GW including operating, under-construction and awarded projects.

Adani Green Energy net profit jumps 149% in Q2

Adani Energy Solution (<keyword id="20373155" type="General" weightage="20" keywordseo="aeml" source="keywords">AEML</keyword>) on Monday posted over 27% decline in its consolidated net profit to Rs 348.25 crore in the October-December quarter compared to the year-ago period. The country's e largest private power transmission and distribution company had reported a consolidated net profit of Rs 478.07 crore in the quarter ended on December 31, 2022, driven by a one-time regulatory income of Rs 240 crore. AEML in an exchange filing explained that the net profit in the third quarter of this fiscal includes a miscellaneous income of Rs 136 crore on account of the USD 120 million bond buy-back. The comparable PAT of Rs 281 crore was 1% higher compared to Rs 280 crore in the year-ago quarter. Total income rose to Rs 4,824.42 crore in the third quarter of FY24 from Rs 3,719.31 crore in the same period a year ago. On operational parameters, it was a strong quarter with an average system availability of over 99.7%, it stated. The business added 302 circuit kilometres during the quarter and ended with a transmission network of 20,422 circuit km. The company sold 2,489 million units against 2,169 million units last year on account of an uptick in energy demand primarily driven by higher industrial share. Distribution loss has been improving consistently and stands at 5.46% in the third quarter of FY24 and maintained supply reliability at over 99.9%. It has under-construction transmission pipeline worth Rs 17,000 crore and is well on track from the execution point of view. The company is on track to commission the MP-II package (partial), the Khavda-Bhuj (partial), and the WRSR lines in the coming quarters. The near term (12-24 months), tendering pipeline for the industry is buoyant and upwards of Rs 1.10 lakh crore under various stages of bidding. The distribution business continues to show a steady performance with double digit growth and consistently increasing RAB (regulatory asset base), supported by internal accruals. Total RAB for the distribution business has now reached Rs. 7,823 crores from Rs. 5,532 crores at the time of acquisition in 2018. The under-implementation pipeline now stands at 21.1 million smart meters, comprising nine projects with a contract value of over Rs. 25,000 crores. The untapped market comprises 135 million smart meters, as the government's official target is 250 million by 2026, it added. "Our growing portfolio with newly commissioned lines, coupled with favourable energy demand, continues to drive our growth," said <keyword id="19941197" type="General" weightage="20" keywordseo="anil-sardana" source="keywords">Anil Sardana</keyword>, MD, <keyword id="18168082" type="General" weightage="100" keywordseo="adani-energy-solutions" source="Orion">Adani Energy Solutions</keyword> in a statement. Kandarp Patel, the CEO of Adani Energy Solutions Ltd said that the smart metering segment is consistently growing besides the existing T and D established industry position. To offer smart and tech-enabled smart metering solutions, our partnership with <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword>, Esyasoft, AdaniConnex will be very fruitful and will immensely augment our offering, Patel added. AEML, the Mumbai distribution business witnessed an increase in the energy consumed by 14.8%. It saw one of the lowest distribution losses of 5.46% and added new consumers, reaching 3.16 million on the back of reliable and affordable power supply.

Adani Energy Solutions net profit down 27% to Rs 348 cr in Q3

Billionaire Gautam Adani's group is building the world's largest <keyword id="864915" type="General" weightage="20" keywordseo="renewable-energy-park" source="Orion">renewable energy park</keyword> in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from <keyword id="6357019" type="General" weightage="20" keywordseo="solar-energy" source="Orion">solar energy</keyword>. Speaking at the opening of '<keyword id="694229" type="General" weightage="20" keywordseo="energy-revolution" source="Orion">Energy Revolution</keyword>: The <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. "In Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 2030, said Adani, the chairman of the apples-to-airport conglomerate. "This will be like providing clean energy to almost every house in England," he said. It currently has an operating renewable portfolio of over 9.5 GW and locked-in projects of up to 21.8 Gigawatt (GW). The Gallery explores how the world can generate and use energy more sustainably to urgently decarbonise and to limit dangerous climate change. "Through striking displays of contemporary and historic objects from the UK and abroad, interactive digital exhibits, and specially commissioned models, the gallery shows how the past, present and future are shaped by human imagination and innovation and explores how we all have a role to play in deciding our energy future," a company statement said. The Gallery, which is open to the public for free, examines this century's defining challenge through the lens of imagination across three sections. In Future Planet, visitors can explore how scientists use complex computer-based models to understand our planet, and what these tell us about the range of climate futures that might lie ahead. In Future Energy, technologies and the people behind them that are reimagining how energy is supplied and used are highlighted alongside historic artefacts which provide a longer view of the transition away from fossil fuels. Adani said museums are very important because they teach and inspire. "This new gallery is about more than just clean air - or about moving away from oil and gas. It is about the energy transition we need - this world needs - and it is about the revolution that is taking place in the world of energy." The gallery, he said, was special because it makes us think, dream and wish for change. At the centre of the gallery is Only Breath, a moving sculpture that signifies the power of nature to inspire technological change. Radiating outward from the centre are plinths which display vital low-carbon renewable energy technologies for the transition, from nuclear, hydrogen and solar to wind and tidal power, alongside remarkable historic innovations that remind us how major change is possible and that many of the technologies needed to make the low-carbon energy transition already exist. Objects in this section include a 7m long tidal turbine blade made by Scottish renewable energy company Orbital Marine Power and the first electric taxi, the Bersey cab, hailed by Londoners in 1897. The challenges of electrification, energy storage, and supply and demand are also explored, with visitors invited to play interactive games and use models that show how energy can be generated and distributed. Possible routes to low-carbon transport are featured, as well the decarbonisation of our buildings and construction industries, and visitors can learn about climate modelling and see instruments used to measure climate. Energy Revolution was designed by award-winning architects, Unknown Works. A key element of sustainable design was the reuse of redundant shelves from the Science Museum's former object store. The gallery's carbon footprint has been monitored, and recyclable aluminium was used where possible. The gallery's Title Funder is Adani Green Energy. Sagar Adani, Executive Director, AGEL, said, "The Science Museum has put together the world's best curated gallery on energy transition. As one of the world's largest renewable energy companies, we are committed to making progress towards net zero - and there is no greater resource in the fight against climate change than education. "Through the sponsorship of the gallery, we aim to inspire young minds, scientists and innovators to imagine a future powered by clean energy and build a carbon-free world. It is an initiative to stimulate their interest, curiosity and awareness, and encourage their active participation in creating clean technologies. The gallery brings together the global community to enable the shift towards energy efficiency, clean energy adoption and carbon emissions reduction." Sir Ian Blatchford, Director and Chief Executive of the Science Museum Group, said, "In a week when we're celebrating a record 2.25 million visits by UK residents to the museum, including a million children, this stunning gallery offers even more to ignite curiosity among those who will visit in the year ahead - provoking important conversations about the urgent need for the world to generate and use energy more sustainably."

Adani eyes 45 GW renewable energy capacity by 2030

<ul><li>A US-agency found Hindenburg Research’s allegations on Adani Group ‘irrelevant’ while conducting due diligence for a loan.</li><li>All the five top gainers on BSE were <keyword id="1125083" type="General" weightage="20" keywordseo="adani-group-stocks" source="Orion">Adani group stocks</keyword> like <keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>, Adani Green, <keyword id="10336110" type="General" weightage="20" keywordseo="adani-total-gas" source="Orion">Adani Total Gas</keyword>, NDTV and Adani Enterprises.</li><li>In Nifty50, its flagship company Adani Enterprises and Adani Ports &amp; SEZ were the two top gainers. </li></ul>Adani group stocks have been on fire for the last couple of trading sessions as back-to-back good news charged up all its ten stocks. A day after the national ruling party BJP secured a thumping victory in three states, a US-agency found Hindenburg Research’s allegations of stock manipulation and accounting fraud by the group ‘irrelevant’, according to a Bloomberg report. The observation was made by International Development Finance Corp (DFC) as it was conducting due diligence before extending a loan to a group company to set-up a container terminal in Sri Lanka. As expected, Adani stocks charged ahead on these twin engines. The group’s market capitalisation crossed ₹13 lakh crore on Tuesday, as it added around ₹1.6 lakh crore in value. Three of its stocks — <keyword id="45417" type="General" weightage="20" keywordseo="adani-power" source="Orion">Adani Power</keyword>, <keyword id="258019" type="General" weightage="20" keywordseo="adani-energy" source="Orion">Adani Energy</keyword> and Adani Total Gas hit upper circuit in Tuesday’s trade, as per Zerodha. In fact, all the five top gainers on BSE were group stocks like Adani Enterprises, Adani Green, Adani Total Gas, NDTV and Adani Enterprises. Even in Nifty50, its flagship company Adani Enterprises and Adani Ports &amp; SEZ were the two top gainers. The combined market cap of group companies crossed ₹13 lakh crore in today’s trade. The broader markets too have been rallying for the last two trading sessions – after BJP securing the mandate in three states. “Markets scaled fresh record highs on the back of impressive gains led by power, oil &amp; gas and banking stocks, as investors continue to bet big on India growth story with fresh election victory for the ruling party in recent state elections further aiding the sentiment.Helping investors' sentiments were hopes that the US Federal Reserve will initiate rate cuts in the coming year,” said Prashanth Tapse, senior VP of research at Mehta Equities. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.03% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,37,451 crore </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Energy Solutions </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,20,763 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.15% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,18,573 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.91% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,07,696 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,13,527 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.9% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹96,585 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.9% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹49,478 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.2% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41,031 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,009 crore </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:top;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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4% </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:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,718 crore </td></tr></tbody><tbody></tbody></table>Source: BSE Adani Green secures $1.36 billion funding Adani Green Energy also announced on Tuesday that it has received follow-on funding of $1.36 billion from a consortium of renowned international banks. The green loan facility will play a pivotal role in enabling the development of its renewable energy park at Khavda in Gujarat. Its lenders include – BNP Paribas, Coöperatieve Rabobank U.A, DBS Bank Ltd, Intesa Sanpaolo, MUFG Bank , Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation.

Adani group stocks zoom ahead on twin-engines

A year after a damning report by a US short seller ripped through his apples-to-airport conglomerate, billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword> on Thursday said the "trials and tribulations" of the past year have made the <keyword id="19898586" type="General" weightage="100" keywordseo="adani" source="keywords">Adani</keyword> group stronger as it continued on growth path, improving asset base and launching key projects, including the Dharavi redevelopment. In a column in a leading newspaper, he said the Adani group raised Rs 40,000 crore of equity -- equal to debt repayment for the next two years -- through stake sales in some firms, repaid Rs 17,500 crore of margin-linked financing, and trimmed debt. Sustained focus on operations yielded the highest-ever quarterly profit in the second quarter of current fiscal, he said. Most of the listed group companies have recouped losses induced by the Hindenburg report. "We remained committed to maintaining our growth momentum. The Group continued its investments, evidenced by our asset base growth to Rs 4.5 lakh crore," he said. "This period (of last one year) marked the launch of several key projects, including the world's largest renewable energy generation site in Khavda (in Gujarat), a new copper smelter, a green hydrogen ecosystem, and the long-awaited redevelopment of Dharavi (slums in Mumbai)." Adani termed <keyword id="20016892" type="General" weightage="20" keywordseo="hindenburg-research" source="keywords">Hindenburg Research</keyword>'s charge of fraud and stock market manipulation as "lies" and a "compilation" of "old and dead allegations" that his "detractors had been trying to resurrect". "Fatuously self-styled as a research report", Hindenburg report "was a cunningly crafted set of selective half-truths sourced from disclosed and publicly available information," he said. He expected the point-by-point rebuttal of the allegations put by his group to quickly put an end to it but the skinned as much as USD 150 billion in market value of his conglomerates listed companies at the lowest point. Adani was ranked world's second richest at the start of 2023 but slipped out of top 20. "The lies against us were corrosive enough to substantially erode the market cap of our portfolio as, typically, capital markets are more emotional than rational," he said. "What pained me even more is that thousands of small investors lost their savings," he said. Had detractors' plan fully succeeded, the domino effect could have crippled many critical infrastructure assets, ranging from seaports and airports to the power supply chain -- a catastrophic situation for any country, he said. "However, thanks to our solid assets, the robustness of our operations and the high quality of our disclosures, the more informed financial community, including lenders and rating agencies, refused to be swayed by the swirling lies and stood solidly with us," he said. Though Adani had to scrap a Rs 20,000 crore public issue at his flagship firm, Adani Enterprises. "We had no precedent path to handle this situation," he said, adding that the group focused on transparently outlining the facts and narrating its side of the story to expose the motives of those who attacked it. This led to a declining influence of negative campaigns against the Group, he said. "A testament to the change in public perception is the significant growth in our shareholder base, a primary target of the follow-on public offering (in Adani Enterprises Ltd). Over this challenging year, our shareholder base expanded by 43 per cent, reaching nearly 70 lakh." On the lessons learnt, Adani, who is now ranked No 14 on the world billionaire list, said in hindsight, the crisis uncovered a fundamental weakness -- the group did not pay enough attention to its outreach mechanisms. "Few outside the infrastructure finance community knew of the size, scale and quality of what the Adani Group had done or was doing. We had all along naively believed that all our non-financial stakeholders too knew us and the truth about us -- that our financials were robust, that our governance was impeccable, that our roadmap to growth was measured, and that we play an important role in building India's critical infrastructure," he said. This experience underscored the necessity of engaging effectively with non-financial stakeholders. "We had failed to proactively counter the twisted narratives of our debt levels and unfounded accusations of political partisanship, resulting in the spread of distorted perceptions. "The fact is that, for our class of transport and utility companies, we have one of the lowest debt-EBITDA ratios. (For the half year ending September 2023, this was 2.5x). Further, with an infrastructure business footprint in 23 Indian states governed by political parties across the spectrum, we are truly politically agnostic," he said. He concluded the piece by saying "the trials and tribulations of the past year have taught us valuable lessons, made us stronger and reaffirmed our faith in Indian institutions." This "devious attack" on the group and its strong countermeasures will no doubt become a case study, he said, adding that he was sharing his thoughts as similar attacks could happen on other Indian groups as well in future. "I am under no illusions that this is the end of such attacks. I believe we have emerged even stronger from this experience and even more unwavering in our resolve to continue our humble contribution to the India growth story," he said.

We have emerged stronger, says Gautam Adani on anniversary of Hindenburg report

<ul><li>AEL’s fund raise globally is validation of its governance and capital allocation practices. No regulatory failure asserts the boss of <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword> Group.</li><li><keyword id="6379895" type="General" weightage="40" keywordseo="navi-mumbai-airport" source="Orion">Navi Mumbai Airport</keyword> is on track and is preparing for operational readiness and airport transition by December 2024.</li><li>New businesses that are being incubated under AEL have accounted for 50% of its EBITDA in FY23</li></ul> In what has been a tumultuous year for billionaire <keyword id="111343" type="General" weightage="70" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, the boss of the Adani Group. Months after Adani Enterprises withdrew its follow-on public offer, Gautam Adani addressed the company’s shareholders at its Annual General Meeting, where he said that the track record spoke for itself. He said that despite the allegations made by the New York-based Hindenburg Research, “...not only did we raise several billions from international investors – but also that – no credit agency – in India or abroad – cut any of our ratings. This is the strongest validation of the belief that the investors have in your company’s governance and capital allocation practices.” All Adani Group companies were trading in the green in morning trade. Among many other new businesses that it is incubating, the airport business is a big one. The boss of Adani Enterprises said on Monday that the Navi Mumbai Airport is on track and is preparing for operational readiness and airport transition by December 2024. <keyword id="8414386" type="General" weightage="20" keywordseo="adani-airports" source="Orion">Adani Airports</keyword>, the new business incubated within AEL has won the mandate to modernise and operate six airports that are in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram through a globally competitive tendering process. Adani Airports also manages the Mumbai airport and is developing the Navi Mumbai Airport. The other major project that is ready to go onstream is the copper smelter. Adani Enterprises is seen as the incubation arm of the group and houses several capital intensive businesses under its umbrella. Through his speech, Adani reiterated the strength of the company’s balance sheet and its governance standards, which were demonstrated by the faith of global marquee investors. Adani said, “Our balance sheet, our assets, and our operating cash flows continue to get stronger and are now healthier than ever before. The pace at which we have made acquisitions and turned them around is unmatched across the national landscape and has fuelled a significant part of our expansion. Our national and international partnerships are proof of our governance standards.” He also highlighted the company’s success in other international markets such as Australia, Israel, Bangladesh, and Sri Lanka. Adani Enterprises during FY23 grew its operating income by 36% to Rs 57,219 crore and total income by 85% to Rs 2,62,499 crore. Despite being a capital intensive business, the company’s profit after tax grew by 82% to Rs 23,509 crore. He added, “Adani Enterprises Limited, continued to successfully demonstrate its incubation capabilities with new businesses accounting for a massive 50% of its EBITDA in FY23.” Many of its new businesses, which are currently in the process of coming onstream, are expected to drive the flagship company’s operating income. The media foray through the acquisition of NDTV and the data centre business are ready for the next phase of growth. In addition, Adani’s Green Power business is expected to be a game changer as computation becomes the most precious resource in the world. Adani said: “Speaking of green power, the Adani Group is set to play a critical role in India’s net zero journey. Our renewable energy business, Adani Green Energy Limited, commissioned the world’s largest hybrid solar-wind project of 2.14 GW in Rajasthan.” The company’s operational renewable energy portfolio has grown by 49% to over 8 GW. This is the largest operational renewable portfolio in India. Our focus remains on producing the lowest cost green electron at scale – and I would like to reaffirm our target of 45 GW of renewable energy capacity by 2030.” AEL is also building the largest hybrid renewables park in the world – right in the middle of the desert – in Khavda. It will be the most complex and ambitious project that we have ever executed. Spread over 72,000 acres, this project will be capable of generating 20 GW of green energy. And we intend to build it faster than any project in our execution history.

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