Adani Enterprises

Adani Ports & SEZ Ltd meets Sebi’s minimum public shareholding norm

Adani Ports & SEZ Ltd meets Sebi’s minimum public shareholding normAdani Enterprises on Tuesday announced it had divested its 2.50 per cent stake in Adani Ports & SEZ Ltd to comply with the Securities & Exchange Board of India's (Sebi's) 25 per cent minimum public shareholding norm.

The share sale, which generated nearly Rs 1,000 crore for the promoter, was carried out on 4th of June via an institutional placement programme (IPP). The company sold 66,657,520 equity shares of face value of Rs 2 each, at a price of Rs 150 a share.

Adani sets floor price of Rs 248 for sale of 70 lakh shares

Adani sets floor price of Rs 248 for sale of 70 lakh sharesAdani Enterprises has set the floor price of Rs 248 per share for offer for sale to offload 70 lakh shares in one of its promoter group firms.

The floor price was set for sale of shares in a company held by Adani Agro, which is one of the promoter group firms through the offer for sale (OFS) route. The company said in a filing with the Bombay Stock Exchange (BSE) that the floor price has been set at Rs 248 per equity share of Adani Enterprises.

Adani promoters fixed Rs 282 as the floor price for share sale

Adani promoters fixed Rs 282 as the floor price for share saleThe promoters of Adani Enterprises have set a floor price of Rs. 282 per share, which is higher than the market price, for a share sale.

The higher floor price has resulted in an increase in the share value by 4 per cent in early trade today. The shares of the company had fallen 7.1 per cent to Rs. 271 on Thursday as the company planned to sell 23 million shares on Friday.

Adani Enterprises to hike its stake in Adani Power from 68% to 75%

Adani Enterprises to hike its stake in Adani Power from 68% to 75%Adani Enterprises Ltd (AEL) on Thursday announced its decision to increase its subsidiary Adani Power from existing 68 per cent to 75 per cent.

AEL said in a statement that they decided to invest more in Adani Power despite overall negative sentiment towards power sector because they see a strong potential there.

Devang Desai, chief financial officer of Adani Group, "There is an overall negative sentiment towards power sector so we felt we need to show that we support and back the plans of Adani Power."

Adani succeeds bid to grow mine coal from Chendipada

Adani succeeds bid to grow mine coal from ChendipadaAdani Enterprises has been preferred as Mine Developer and Operator (MDO) for growth and process of the Chendipada coal block, during global competitive request. The block has a yearly, mining ability of 40 million tons per annum (MTPA).

Adani will take on expansion and process of the coal block that comprises of land acquisition, coal mining, setting up of coal washery, R&R, preparation of mine plan, approvals and clearances, set up railway siding and deliver washed coal to end user at the elected power stations in Chhattisgarh, UP, and Maharashtra.

Want foreign coal? Adani asks Coal India

Want foreign coal? Adani asks Coal IndiaThe largest coal importer of India, Adani Enterprises has been involved in talks with Coal India Ltd (CIL) run by state government for a long term supply agreement.

If the deal completes successfully the Ahmadabad based company Adani group will supply coal to the CIL from its Indonesian and Australian mines. As per the agreement the coal for the CIL will be supplied by the Adani Infrastructure including shipping and the pricing details are yet to be finalized by both the firms.

Adani Enterprise net up 218%

Adani Enterprise net up 218% Adani Enterprise Limited has informed that it has posted a significant two fold rise in its net profit in the Q1 of the current fiscal year but its sales have suffered a hit.

Adani Enterprise Limited is the flagship company of Adani Group. Adani Enterprise Limited has declared the financial results for Q1 of the fiscal year 2010-11.

According to the company, its net profit has been recorded Rs 407.44 crore in June quarter of the year against Rs 127.67 crore for its corresponding quarter in the last fiscal year. There has been a hike of 218% in the net profit figure of the company in this year in Q1.

Adani first quarter net profit up over two-fold at Rs 407 crore

Adani-EnterprisesAdani Enterprises has announced its financial results for Q1 the fiscal year 2010-11. According to the firm, it has registered a significant two fold net profit rise in the reviewed quarter.

Adani Enterprises has posted a consolidated net profit of Rs 407 crore for the quarter that ended in 30th June, 2010 which is almost doubled of the net profit figure of corresponding three months time period in the last fiscal year.

Adani purchases Australia based Linc Energy's coal mines

Adani purchases Australia based Linc Energy's coal mines With many Indian companies setting up their footprints on foreign lands, the latest to join the league is, Adani Enterprises that bought Australia-based Linc Energy's coal assets for about Rs 12,600 crore in a cash and royalty deal.

The home grown company that operates in areas like power, ports etc have purchased it in order to support its 20,000-mw expansion plan in the power filed by 2020.

Reportedly Galilee tenement has a resource pool of 7.8 billion tonnes of coal making it the largest in Australia in terms of coal resources.

Adani and Linc to soon sign deal about coal assets

Linc-Energy-Adani-EnterprisesOn Monday, Linc Energy Ltd said that the talk between it and Indian Adani Enterprises Ltd is at a very advanced stage. The talks are regarding the transaction of coal assets of Linc which are present in Queensland.

Post the declaration, shares of Linc were up 19 per cent.

Adani Enterprises will buy $1 billion coal mine from Linc Energy

Linc-EnergyAdani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mine is estimated to contain within itself 7-8 billion tonnes of coal reserves. This has been informed by the Adani Enterprises in a press meet and as per sources this has been a major deal for the Indian Inc.

Adani Enterprises has acquired the coal mine for its subsidiary, the Singapore based Adani Global.

From the $1 billion, Adani is supposed to part from the first tranche of $435 million in the following few days.

Adani Enterprises Intraday Buy Call

Adani Enterprises Intraday Buy CallStock market analyst Anil Singhvi has maintained 'buy' rating on Adani Enterprises Ltd stock to achieve an intraday target of Rs 600.

According to Mr. Singhvi, interested traders can buy the stock with a stop loss of Rs 573.

The shares of the company, on May 11, closed at Rs 582 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 594.40 and a low of Rs 207.50 on BSE.

Current EPS & P/E ratio stood at 6.65 and 87.02 respectively.

Adani Group set its eyes on IPL’s Ahmedabad franchise

Adani Group set its eyes on IPL’s Ahmedabad franchiseGautam Adani, CMD, Adani Group has recently confirmed that the group will be bidding for IPL's Ahmedabad Franchisee. While the minimum bid price has gone up by almost five times at a mind-boggling $225 million as compared to a price of $50 million (almost Rs. 230 crore), but it is not stopping the corporate houses to jump on to its much-hyped cricket tournament.

The performance of IPL in the past two seasons has been more than satisfactory and hence various conglomerates and business houses are looking to join the bandwagon.

Adani Plans To Invest Rs 10,000 Cr On Orissa Port

Adani Plans To Invest Rs 10,000 Cr On Orissa PortThe Ahmedabad based Adani Group has decided to make investment of Rs 10,000 crore for the establishment of a port in Orissa.

Adani Group functionaries met Chief Minister Naveen Patnaik on Thursday with the plan.

Orissa's transport and commerce secretary Satyabrat Sahu said, "The Adani Group has given this proposal to set up a port. The state government is examining the proposal."

According to reports, the proposed port would be named as Adani-Kalinga Port.

Buy Adani Enterprises For Target Rs 455

Buy Adani Enterprises For Target Rs 455Stock market analysts are of the view that investors can buy Adani Enterprises Ltd stock to achieve an intraday target of Rs 449.

According to them, investors can buy the stock above Rs 446 with a strict stop loss of Rs 442.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 455.

Shares of the company, on Wednesday (Jan 27), closed at Rs 444.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 518 and a low of Rs 119 on BSE.

Adani Power’s IPO to open on July 28

Adani Power Adani Enterprises Ltd-promoted Adani Power, with revenue of Rs 196 billion, has announced its plan of opening its Initial Public Offer (IPO) - for 301,652,031 Equity Shares of Rs10 each - on July 28, which would continue till July 31. The company, on July 14, filed the Red Herring Prospectus (RHP) with the Registrar of Companies (RoC), Gujarat, Dadra and Nagar Haveli, to get necessary approvals for the proposed offer.




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