Motilal Oswal has initiated coverage on Adani Enterprises Limited (AEL) with a Buy rating and a sum-of-the-parts-based target price of Rs 3,880, indicating a 25% upside. Following the coverage initiation, Adani Enterprises shares traded over 1% higher. The stock rose Rs 33, or 1.06%, to Rs 3,145 on the NSE at 11:09 am, compared with…
Mumbai: The Adani Group is set to enter the estimated ₹75,000-crore wires and cables business, its proposed foray denting the stocks of incumbents Thursday, as competitive intensity increases in an industry that saw the entry of another large conglomerate a few weeks ago. Kutch Copper, a wholly-owned subsidiary of group incubator and flagship, Adani Enterprises,…
By Scott Murdoch and Tom Westbrook (Reuters) -Ratings agency Fitch has put some Adani Group bonds on watch for a possible downgrade after U.S. authorities indicted some key executives of the Indian conglomerate on bribery charges. Adani Energy Solutions Ltd, Adani Mumbai and some of Adani Ports and Special Economic Zone rupee and dollar bonds…
A strike by aviation workers at Nairobi’s Jomo Kenyatta International Airport (JKIA) has led to flight delays and cancellations. The strike, which began at midnight on Tuesday, is in protest of a proposed deal between the Kenyan government and India’s Adani Group to lease the airport for 30 years. Kenya’s Aviation Workers Union organised the…
