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Adani Enterprises and InterGlobe Aviation’s Q3 earnings take a hit as the rupee’s depreciation leads to increased expenses.

Over 10 companies from the BSE500 index reported a combined foreign exchange loss of approximately ₹3,000 crores in the December quarter. This loss is attributed to the depreciation of the rupee, which fell by 2.2% in the quarter, the biggest drop in nine quarters. As a result, companies such as InterGlobe Aviation, Adani Enterprises, UPL, Sun Pharmaceutical Industries, and JSW Infrastructure reported significant forex losses ranging from ₹1456 crore to ₹159 crore. However, Zydus Lifesciences, a generic drugs manufacturer, reported a forex gain of ₹183 crore, a four-fold increase from the previous quarter, due to the strengthening of the US dollar.

InterGlobe Aviation’s CFO, Gaurav M Negi, stated that the company’s exposure to foreign exchange risk is primarily due to its lease liability and maintenance obligations denominated in US dollars, resulting in a significant loss. To mitigate these losses, the company has taken steps to hedge part of its foreign currency outflow, which has already yielded a gain of ₹59 crore in the current quarter. Adani Enterprises and Adani Green Energy also reported forex losses of ₹296 crore and ₹307 crore, respectively, in Q3 FY25.

The decline in the rupee has had an adverse impact on the profitability of these companies, and the loss is likely to continue in the coming quarters. However, some companies are finding ways to mitigate these losses by taking steps such as hedging and diversifying their foreign currency exposure. Overall, the depreciation of the rupee continues to pose a significant challenge for Indian companies with foreign exchange exposure.

Adani Enterprises, Bajaj Finance, Nestle, Maruti, Tata Steel, among 140 other companies, are set to release their quarterly earnings this week.

The third-quarter earnings season has begun, and over 140 companies are scheduled to declare their results this week. Some prominent companies include Tata Steel, Bajaj Auto, L&T, Adani Enterprises, and Maruti Suzuki. Here’s a breakdown of the key earnings to watch out for this week:

On January 27, 360+ companies will be declaring their earnings, including Tata Steel, Canara Bank, Coal India, and Indraprastha Gas. Some other notable names include Apar Industries, Bosch, and Piramal Enterprises.

On January 28, around 110 companies will be announcing their quarterly results, including Bajaj Auto, Mahindra & Mahindra Financial Services, and Lloyds Metals & Energy. Notable names on this list include Jubilant Ingrevia, Motilal Oswal Financial Services, and V-Guard Industries.

On January 29, another 130+ companies will be declaring their earnings, including Adani Power, Ambuja Cements, and Maruti Suzuki India. This list also includes notable names like Bajaj Finance, Hitachi Energy India, and Radico Khaitan.

On January 30, around 110 companies will be announcing their quarterly results, including Adani Enterprises, Indian Bank, and Tata Motors. Notable names on this list include Bajaj Finserv, Clean Science and Technology, and Jindal Steel & Power.

On January 31, about 60 companies will be declaring their earnings, including IndusInd Bank, Larsen & Toubro, and Prestige Estates Projects. This list also includes notable names like Max Healthcare Institute and Welspun Living.

On February 1, only Aarti Industries is scheduled to announce its quarterly results.

Overall, this week promises to be busy for investors, with a vast array of companies from various sectors set to announce their earnings.

Adani Group’s copper subsidiary, Kutch Copper Ltd, partners with the International Copper Association.

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Kutch Copper Ltd, a subsidiary of Adani Enterprises, has joined the International Copper Association (ICA), a non-profit trade organization representing 50% of global copper output. The ICA has 33 members on six continents, with its headquarters in Washington, DC. The membership aims to enable Kutch Copper to contribute to sustainable initiatives and develop innovative copper products, as well as enhance the value chain for the metal in India and globally. The company’s Managing Director, Dr. Vinay Prakash, expressed his optimism about the partnership, highlighting India’s potential to become a significant hub for copper and its products in the coming decades.

ICA President and CEO, Juan Ignacio Diaz, welcomed Kutch Copper to the organization, emphasizing the importance of sustainable and innovative copper production in promoting the metal’s role in decarbonization. ICA’s Chairman, Stephen Rowland, added that Kutch Copper’s membership strengthens the organization’s commitment to promoting sustainable practices and developing new copper applications.

Kutch Copper is investing USD 1.2 billion in a greenfield copper smelter with an initial capacity of 0.5 million tons per annum. The facility will produce copper cathodes, rods, and other byproducts, contributing to India’s goal of becoming self-reliant in copper production. The company is committed to maintaining high environmental, social, and governance (ESG) performance standards, leveraging advanced technology and digitalization.

Kutch Copper is also working towards adding copper tubes to its portfolio as part of its forward integration strategy. The company aims to establish a state-of-the-art greenfield copper custom smelting and refining complex. With this new membership, Kutch Copper has become a key player in the global copper industry, committed to sustainability, innovation, and growth. The partnership with ICA is expected to further enhance the company’s strategic position in the industry and contribute to the global copper market.

Adani Energy Solutions has awarded a transmission line EPC (Engineering, Procurement, and Construction) contract to Bajel Projects for executing a key project.

Bajel Projects has won an engineering, procurement, and construction (EPC) contract from Adani Energy Solutions for the design and implementation of a transmission line. The transmission line is expected to facilitate the growth of renewable energy projects in India by enabling the transportation of large volumes of renewable power. According to sources, the transmission line project involves a high-voltage transmission system spanning approximately 550 km in three separate stretches.

Under the agreement, Bajel Projects will be responsible for engineering, designing, and executing the construction work of the transmission line, along with related high-voltage transmission facilities, such as substations, switchyards, and control panels. The scope of the work includes supply of all the requisite materials, execution of site clearing, and infrastructure development. Additionally, the EPC contract calls for commissioning the transmission line by 24 months after obtaining all the required clearances. With this development, Adani Energy Solutions, a part of Adani Enterprises, continues its expansion efforts to promote India’s clean energy segment.

 

Adani Energy Solutions reports a net loss of Rs 824 crore in its first quarter’s financial performance.

Adani Enterprises, the renewable energy arm of the Adani Group, has reported a net loss of Rs 824 crore for the first quarter (Q1) of 2022-23. The company’s total revenue declined 13.6% year-on-year to Rs 2,454 crore in Q1. The loss in the quarter is due to higher operating expenses and higher finance costs. The company’s operational costs increased 25.7% year-on-year to Rs 4,644 crore, while its finance costs rose 54.6% to Rs 1,134 crore. Adani Energy Solutions also reported a significant decline in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin, which fell to 7.2% compared to 14.2% in Q1 of the previous year. The company attributed the decline in profitability to the presence of highly competitive and volatile markets, as well as the impact of COVID-19-related restrictions on project execution. However, Adani Energy Solutions remains optimistic about its future growth prospects, citing its strong order book and ongoing efforts to diversify its revenue streams.

Adani Group forges partnership with Indorama to venture into petrochemicals.

Adani Group has partnered with Indorama Resources of Thailand to enter the refinery, petrochemical, and chemical business. The joint venture, Valor Petrochemicals Ltd (VPL), has been incorporated with equal shareholding. The initial project will be a 3.2 million ton Purified Terephthalic Acid (PTA) project in Maharashtra, with plans to invest around $3 billion. The venture will also consider upstream and downstream integration. The company may also explore a project in Mundra in the future. Indorama Ventures is a global petrochemical producer with three segments: Combined PET, Indovinya, and Fibers. This partnership marks Adani Group’s entry into the petrochemical industry, with Adani Petrochemicals Ltd being a wholly-owned subsidiary of Adani Enterprises. The venture will utilize the funds from the recent exit from the joint venture with Wilmar International, valued at around $2 billion, which will be used for the group’s core infrastructure platforms.

Adani Enterprises Unveils Ambitious $5 Billion Bid to Further Elevate Data Centre Ventures

Adani Enterprises, a Indian multinational conglomerate, has announced a $5 billion plan to expand its data centre business globally. The company aims to increase its data centre capacity by 10 times to 10 megawatts in the next 5 years, making it one of the largest data centre providers in the country. The plan involves setting up new data centres in India and other countries, including the Asia-Pacific region and the United States.

Adani Enterprises will invest $1.5 billion to develop its first data centre outside India, which will be located in the US. The company has also secured a 200-acre land in the US state of Virginia to build the facility. Additionally, Adani has partnered with the US-based firm, Digital Realty, to build a 12-megawatt data centre in Mumbai, India.

The company plans to offer cloud computing services, internet exchange services, and other value-added services to its customers. Adani’s data centre expansion plan is part of its overall strategy to become a leading provider of digital infrastructure services globally. The company has already established partnerships with major global technology firms and is confident of achieving significant growth in the coming years.

Adani Enterprises is expected to report a significant revenue boost, soaring to Rs 1.5 lakh crore by FY27, accompanied by a 46% increase in net earnings.

AEL (Adani Enterprises Limited) is one of India’s largest listed incubators, responsible for conceiving, growing, and demerging numerous successful businesses. The company has a proven track record of creating and nurturing various industries, including ports, gas distribution, power transmission, renewable energy, and commodities. Some of the notable companies born out of AEL include Adani Ports & SEZ, Adani Total Gas, Adani Energy Solutions, Adani Green Energy, Adani Power, and Adani Wilmar.

Despite rumors of nepotism, Adani Enterprises is committed to collaborating with ‘any partner’ on future projects.

Gautam Adani, Chairman of the Adani Group, addressed claims of preferential treatment for certain political parties, asserting that the group’s focus is solely on infrastructure development across India. He cited the Vizhinjam Port in Kerala, a project completed in partnership with the Left Democratic Front (LDF)-ruled government, as an example of the group’s pan-India approach. Adani emphasized the importance of collaboration between the private and public sectors to achieve infrastructure development, regardless of political affiliation. He also shared his vision to transform Dharavi, one of the world’s largest slums, into a lasting legacy, and reflected on his own humble beginnings, from not completing college to building a successful business empire. Adani emphasized the importance of simplicity, stating that “life becomes simple” when one understands that they are not permanent residents on earth.

Seven key companies, including NTPC, PNB and Adani Enterprises, are set to inject $186 million, according to Nuvama.

Nuvama Institutional Equities predicts that seven Indian companies will experience strong net passive inflows due to the rebalancing of the NSE indices. The companies expected to see significant inflows are NTPC Ltd. (USD 74 million), Punjab National Bank Ltd. (USD 25 million), IndusInd Bank Ltd. (USD 23 million), Federal Bank Ltd. (USD 18 million), Bank of Baroda Ltd. (USD 17 million), Adani Enterprises Ltd. (USD 15 million), and ICICI Bank Ltd. (USD 14 million). Collective, these seven companies are expected to receive a total of USD 186 million. The adjustment is set to take place on December 30, 2024. The rebalancing will affect the CPSE, Nifty Bank, Nifty 50, and Nifty Next 50 indices, leading to a surge in passive flows. These funds will likely flow into these companies’ shares, potentially impacting their stock prices.

Adani Enterprises launches ₹20,000 crore FPO: Key details, including price band, issue date, and other vital information

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Adani Group Unveils Ambitious Bihar Project: A Rs 20,000-Crore Power Plant, Infrastructure Upgrade, and Multipronged Development Strategy

The Adani Group, an Indian conglomerate, plans to invest Rs 27,900 crore in Bihar, creating 53,500 jobs in the state. The announcement was made by Pranav Adani, Managing Director of agro, oil, and gas, and Director of Adani Enterprises, at the ‘Bihar Business Connect 2024’ summit in Patna. The group has already invested Rs 850 crore in logistics, gas distribution, and agri-logistics, creating 25,000 jobs. Further investments of Rs 23,000 crore are planned, which will increase warehouse capacity and expand presence in electric vehicles, city gas distribution, and compressed biogas. The group is also collaborating with the Bihar government to explore Rs 1,000 crore investment in infrastructure projects. Additionally, investments of Rs 2,100 crore in smart meters and Rs 2,500 crore in a cement plant are planned, which will create 4,000 and 9,000 jobs respectively. The group also plans to invest Rs 20,000 crore in an ultra-supercritical thermal power plant. Adani praised the leadership of Bihar CM Nitish Kumar, stating that the group remains the “largest private investor in Bihar” and is confident in the state’s growth potential.

Adani Group is planning major investments in Bihar, earmarking Rs 20,000 crores for the energy sector, Rs 2,100 crores for smart meter infrastructure, and Rs 2,500 crores for its cement business.

The Adani Group has announced various investments in Bihar, including projects in the thermal power, smart meters, cement, logistics, gas distribution, and agri-logistics sectors. At the 2024 Bihar Business Connect investor summit, Pranav Adani, Managing Director (Agro, Oil & Gas) and Director of Adani Enterprises, made the announcements. The group is planning to invest Rs 2,300 crore in logistics, gas distribution, and agri-logistics, creating 27,000 direct and indirect jobs. The company is also investing Rs 1,000 crore in strategic infrastructure, including Gati Shakti Railway Terminals and Industrial Warehousing Parks. Additionally, Adani will invest Rs 2,100 crore to manufacture and install 28 lakh smart meters, generating 4,000 local jobs. The group will also invest Rs 2,500 crore to set up a cement manufacturing capacity of 10 MMTPA, creating 9,000 jobs. Furthermore, Adani plans to invest Rs 20,000 crore to set up an ultra-supercritical thermal power plant, which is expected to generate at least 12,000 jobs and 1,500 skilled jobs during the operational phase. Overall, these investments are expected to generate thousands of direct and indirect job opportunities in the state.

Maruti Suzuki, Adani Ports & Adani Enterprises: Should You Hold On Short-Term or for the Long Haul?

The article discusses Maruti Suzuki, Adani Ports, and Adani Enterprises, popular Indian companies, and whether they should be considered for “quick flips” or long-term holdings. Maruti Suzuki is India’s largest automaker, with a strong brand and a wide distribution network. While its stock has been volatile, the company’s fundamentals are solid, making it a good long-term hold. Adani Ports, a leading port and logistics company, has a strong industry position and a track record of growth. Its stock is likely to be a long-term hold due to its stable dividend yield and relatively high return on equity (ROE). Adani Enterprises, the holding company of the Adani Group, has a diverse portfolio of businesses, including power, real estate, and agriculture. Its stock is also a long-term hold due to its strong brand and diversified business portfolio. The article concludes that while there may be short-term market fluctuations, these companies are solid long-term bets, with strong fundamentals and growth potential.

For the sixth time, RIL emerges as India’s top wealth creator, trailed by TCS and Infosys, which secured second and third spots, respectively.

Reliance Industries has topped the list of India’s wealth creators for the sixth consecutive time, accounting for 8.1% of total wealth created from 2019-2024. This is the 11th time they have held the top spot in the last 17 studies. Other notable contributors to India’s wealth include TCS, Infosys, Bharti Airtel, ICICI Bank, and State Bank of India. TCS and Infosys have shown consistent performance, while Bharti Airtel’s focus on telecom innovation and ICICI Bank’s sharp profit growth have also contributed to their success. State Bank of India’s steady return on equity (RoE) and Infosys’s high RoE demonstrate their profitability. Larsen & Toubro’s diversified business model and Adani Enterprises’ focus on high-growth sectors have also driven their success. Tata Motors’ electric vehicle and global strategies have led to its recovery, while HCL Tech’s financial discipline and IT innovation have contributed to its growth. These companies have created a significant amount of wealth, with Reliance Industries topping the list with ₹11,178 billion.

Adani Enterprises slapped with penalty for inaccurate ITC claims in Maharashtra.

Adani Enterprises has received a penalty of Rs 20,000 from the Deputy Commissioner of State Tax, Maharashtra, due to an alleged mismatch in input tax credits availed in the 2020-21 fiscal year. The company has received the order on December 4, 2024, and claims that the penalty will have no material impact on its financials, operations, or activities. Adani Enterprises is filing an appeal against the order. The company made the disclosure in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The GSTR-2A is a purchase-related document provided by the GST portal to each registered business, and the alleged mismatch refers to the difference between the input tax credits availed and the GSTR-2A statement. The company is taking steps to file an appeal against the order and has stated that the penalty will not have a significant impact on its business operations.

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