Shares across Adani Group companies experienced a significant drop on Tuesday following a Wall Street Journal investigation that revealed the US Department of Justice is reviewing potential transactions between the Indian conglomerate and US-sanctioned Iran. The report ignited a sharp sell-off led by Adani Ports & Special Economic Zone Ltd. $ADANIPORTS.NS, whose shares tumbled by as much as 2.7%. This marked the steepest single-day loss in over three weeks for the major infrastructure stock. In total, nine of ten Adani-affiliated securities ended the session in negative territory, signaling broad-based investor anxiety.
Gautam Adani, the Indian billionaire and founder of Adani Group, has announced ambitious plans to invest an additional $10 billion in building data centers in India. This decision is driven by the growing demand for artificial intelligence (AI) services and business process management, making such investments highly relevant in the context of digital transformation.
Adani Group, one of India’s largest conglomerates, has successfully raised approximately 750 million dollars through a private bond placement in the offshore market. This financial maneuver is part of the company's strategy to finalize its acquisition of ITD Cementation India Ltd, a construction firm.
Chilean state-owned mining giant Codelco, the world’s largest copper producer, has announced a landmark agreement to supply copper concentrates to the Adani Group’s metallurgical plant in India, valued at USD 1.2 billion. This deal marks a pivotal moment in the global copper market, with significant implications for the growth and diversification of India’s metallurgy industry.
Gautam Adani, an Indian billionaire and chairman of the Adani Group, has once again found himself at the center of controversy due to a high-profile court case. The company is challenging allegations of environmental regulation violations related to the construction of a multi-billion-dollar power plant and a luxury residential complex. This legal battle adds to the growing list of judicial proceedings the group is involved in, both in India and abroad.
Indian company Adani Green $ADANIGREEN.NS has successfully raised $1.06 billion to refinance debt obligations related to its renewable energy project from 2021. This marks the first major fundraising by the company since U.S. authorities leveled bribery charges against its top executives. The news was announced on Monday, signaling a critical financial maneuver for the company despite ongoing legal controversies.
Ramco Cements $RAMCOCEM.NS, a leading cement producer in India, recently announced its financial results for the third quarter. The company's adjusted profit before exceptional items and taxes plummeted by 97%, amounting to a mere 43.5 million rupees (approximately $496,774), compared to 1.35 billion rupees in the same period last year.
