Latest news with #AdaniGroup
Business Times
38 minutes ago
- Business
- Business Times
Shipping firm Maersk temporarily pauses Haifa port calls
[COPENHAGEN] Container shipping company Maersk said on Friday (Jun 20) it had temporarily paused vessel calls at Israel's Haifa port, amid the country's escalating conflict with Iran. The Danish company said it had not experienced any further disruptions to its scheduled operations in the region. Haifa port, which was privatised in 2022, is owned 70 per cent by India's Adani Ports while the remaining 30 per cent is held by Israel's Gadot Group. Adani Ports is the ports operating arm of Adani Group, led by billionaire Gautam Adani. Including Haifa port, the company operates four ports outside Indian waters. A spokesperson for the Adani Group did not immediately respond to Reuters' email and text messages requesting comment. Israel has been hitting Iran from the air since last Friday in what it describes as an effort to prevent Tehran from developing nuclear weapons. Iran has denied plans to develop such weapons and has retaliated by launching counterstrikes on Israel. On Thursday, Iran's Revolutionary Guards said it had launched combined missile and drone attacks at military and industrial sites linked to Israel's defence industry in Haifa and Tel Aviv. REUTERS
NDTV
17 hours ago
- Business
- NDTV
"Let's Collaborate Deeply": Pranav Adani As Chintan Research Foundation Celebrates 1st Foundation Day
New Delhi: Chintan Research Foundation (CRF), the think tank of the Adani Group, celebrated its first Foundation Day on Thursday in Delhi. The CRF focuses on critical areas such as energy transition, climate change, economics and trade, and geopolitics and strategic affairs. The foundation aims to foster dialogue, strategy, and impact in these fields. Former NITI Aayog CEO Amitabh Kant delivered the keynote address and praised CRF's research efforts. The Foundation Day event is a significant milestone for the CRF as it marks the beginning of its operations and its commitment to engaging with key stakeholders in shaping policy and promoting India's role on the global stage. Adani Enterprises Director Pranav Adani, addressing the event, said, "For three decades now, the Adani Group has been driving growth and accelerating innovation by entering the toughest and the most critical infrastructure sectors of our nation." "... As planned, the CRF's research focuses on crucial issues like climate change, equitable energy transition, the evolving global economy, crucial supply chains and dynamic trade relations, and the overreaching geopolitics that shape the future of the world," Mr Adani said in his address. "We see the CRF working on the same lines, entering critical areas of research, deliberation, recommendation and impact, while upholding independence and editorial integrity. And we continue to foster the CRF as an institution where entrepreneurs and policy makers, trade negotiators and local innovators, academics and artisans all find a common cause," he added. Mr Adani said some of the objectives to collectively address are in line with India's stature as a thought leader for the world in a growing number of areas. "Let us collaborate deeply. Among the esteemed guests today, I see representations of major Indian think tanks who have greatly contributed to our country's growth, story and systematic development. I would very much like to see the result of all of us working with each other. This will ensure immense value addition and no duplication of work," he said. "... India is not only Delhi or the capital cities, but India really lives in the heartland, which is why I said in my speech that whether it is Raipur, Ranchi, Bhubaneswar or the North East, what really matters is this is where the real India lives and this is where we want them to come in into our focus, into our central economy, so with that in mind, I think that is where the real India lives. I think India is right now in a very great situation. I think this 1.4 billion people that we have is our real asset," he said. The CRF conducts in-depth policy and sectoral analysis, engaging with policymakers, industry leaders, and stakeholders through discussions, events, and publications.
India Gazette
21 hours ago
- Business
- India Gazette
Ambuja Cements and ACC become India's leading cement companies with net-zero targets validated by the SBTi
Ahmedabad (Gujarat) [India], June 19 (ANI): Ambuja Cements and ACC, the cement and building materials companies of the diversified Adani Portfolio, have achieved a landmark sustainability milestone as the leading two Indian cement companies amongst peers to have their net-zero targets validated by the Science Based Targets initiative (SBTi). The SBTi's Corporate Net-Zero Standard is the world's only framework for corporate net-zero target setting in line with climate science. According to Adani, the SBTi validation proves the Companies' commitment to building a sustainable and responsible business, by doing not what is easy but what is necessary and positioning them as corporate leaders of the low-carbon transition. This recognition places them at the forefront of India's industrial decarbonisation, committed to cutting emissions at the pace and scale required to meet the Paris Agreement's 1.5C goal. Vinod Bahety, CEO - Cement Business, Adani Group, said, 'We take immense pride in Ambuja Cements' and ACC's long-standing tradition of pioneering sustainability initiatives as we feel a strong responsibility to act in the climate crisis. The SBTi represents the highest standard for corporate climate targets.' He added, 'With the validation of our targets by the SBTi, we reinforce our dedication to creating a future where growth and environmental stewardship go hand in hand. We are the 9th largest cement manufacturer in the world and after Cemex, Heidelberg and Holcim, only one of this scale to achieve net-zero target validation. Our journey doesn't stop here - this is yet another step towards realising our vision for a decarbonised and sustainable world.' The Companies understand the importance of rapid and deep emission cuts and have been pioneering sustainability practices as leaders in the industry's transformation towards sustainable growth. The Companies will prioritise direct decarbonisation and neutralise residual emissions in line with SBTi criteria. The Companies' initiatives on green power, AFR, energy efficiency, technology upgradation, innovation have had helped to set up the targets. Ambuja is also the first cement manufacturer globally to join the Alliance for Industry Decarbonization (AFID), led by the International Renewable Energy Agency (IRENA) and is a member of WEF's Transitioning Industrial Clusters initiative. Synergies across the Adani Group ecosystem are central to this ambition. With a USD 100 billion commitment to India's green energy transition, the Group is scaling renewable capacity from 14.2 GW to 50 GW by 2030 and building an integrated green hydrogen platform. Under this, Ambuja Cements aims to achieve 60 per cent of its power requirements through renewable and green sources by FY'28, including 1 GW of solar and wind power, as well as 376 MW of WHRS. Of these, it has already achieved 299 MW and 186 MW capacities, respectively. Green hydrogen will play a key role in achieving net-zero. The Group's investments in this space will lead the Companies' net-zero pathways. The shared capabilities with the Group will enable Ambuja Cements and ACC to accelerate emissions reduction and reduce reliance on fossil fuels. This validation is not just a milestone; it is a mandate. Ambuja Cements and ACC are setting new benchmarks for the cement industry, proving that bold climate action is possible, necessary, and already underway. (ANI)
Mint
a day ago
- Business
- Mint
Is the Israel-Iran war a billion-dollar threat to Adani Ports & SEZ?
The world is once again on the brink. With the war in Ukraine still raging and unrest simmering across the Middle East, a new conflict has plunged global geopolitics into deeper uncertainty. A few days ago, tension between India and Pakistan flared up after 26 people were killed in a terrorist attack in Pahalgam. India launched Operation Sindor, which targeted terrorist camps across the Line of Control. For a brief moment, there was a serious apprehension that both India and Pakistan could go to war. But both sides agreed to a ceasefire, which reduced stress. Also Read: Is India's premium at risk? As Israel-Iran conflict sparks FPI outflows, valuation debate rages But cool in South Asia has been affected by a more explosive conflict in the Middle East. On 13 June 2025, Israel launched a military campaign against Iran, targeting major military and nuclear sites. Since then, the Israel-Iran conflict has entered its fourth day, with no signs of de-escalation. Overnight missile exchanges have intensified, with Iran striking an Israeli oil refinery and crippling parts of its power grid. In this geopolitical storm, Adani Ports and Special Economic Zone (APSEZ) Ltd has emerged as a company of keen interest on Dalal Street. APSEZ is the largest commercial ports operator in India, accounting for nearly one-fourth of the country's cargo movement. It has a presence in 13 domestic ports in seven maritime states: Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha. Through its subsidiary Adani Logistics, APSEZ operates three logistics parks located at Patli in Haryana, Kila-Raipur in Punjab, and Kishangarh in Rajasthan. The company is engaged in developing, operating, and maintaining ports, developing ports-related infrastructure, and developing infrastructure in special economic zones. On 16 June 2025, shares of APSEZ were in focus amid the ongoing conflict between Israel and Iran. Some reports suggested that the conflict between the two countries caused damage to the Haifa port in Israel. Late on Saturday night, tensions in the Middle East escalated further as Iran fired missiles at Israel's Haifa port and a nearby oil refinery. Debris from the attack reportedly landed in the chemical terminal of the port, while other projectiles hit the oil refinery. Also Read: Dull summer casts a cloud on Voltas's air conditioner volumes in Q1 While the incident raised immediate concerns, especially for Adani Group's operations in the region, media reports state the Adani-operated section of the Haifa port was not impacted. However, Jugeshinder Robbie Singh, the Adani Group CFO, refuted the reports and said the damage reports were false. News agencyPTIreported on Sunday that the group's port was unaffected. Despite the tense situation, it's business as usual at the port for now. As per reports, eight ships remained docked and cargo handling continued smoothly. Operations stayed on track, with no damage reported to infrastructure or logistics. For now, Adani's key international port remains safe, even as the region braces for what comes next. Adani Ports' stake in the Haifa port In 2023, the Adani Group made a high-profile international expansion by acquiring a 70% stake in Israel's Haifa port for $1.2 billion, in partnership with Israel's Gadot Group, which holds the remaining 30%. The joint venture is set to operate the strategic port until 2054. Haifa serves as a vital maritime gateway for Israel, handling more than 30% of the country's imports. While it contributes nearly 5% to APSEZ's revenue, it accounts for less than 2% of the total cargo volume managed by the company. APSEZ, which handles around 10.57 million tonnes of cargo overall, has always positioned Haifa as a long-term strategic asset rather than a volume play. However, the recent escalation in the Israel-Iran conflict has cast a shadow over the investment. The fear is that ongoing hostilities could delay cargo movements at Haifa and potentially disrupt global shipping routes. The impact was already visible in the market on Friday. Shares of Adani Ports—one of the group's most profitable businesses dropped more than 3% intraday to ₹1,396 before recovering slightly to close at ₹1,405.25, a 2.71% decline. Also Read: Municipal bodies still shun public bond issues. There's a lot that's holding them back While Haifa may represent a small portion of the group's operations, the geopolitical risk it carries now looms large. What if Adani's Haifa port takes a hit? At the moment, Adani's Haifa port is still up and running, with cargo ships docked and operations going on as usual. But there's a growing sense of unease. What happens if things take a turn for the worse? If the port were to suffer serious damage, the impact on Adani Ports could be significant. Early estimates suggest losses could range between $1.9 bn and $2.9 bn. That includes the original $840 million (m) poured into the deal, around $50-100 m in annual revenue, and a potential hit of $1-2 bn in market value. The longer the conflict continues, the more uncertain the returns on Adani's overseas bet become, raising the question of whether this bold global expansion will deliver long-term gains or turn into an expensive mistake. Scaling up Vizhinjam APSEZ is set to invest ₹13,000 crore to expand the Vizhinjam International Deepwater Seaport in Kerala's Thiruvananthapuram. This next phase of growth, fully self-funded, comes on the back of successful trial runs and growing demand. The port is already operating at 90% capacity, having handled 280 ships and 620,000 TEUs since trial operations began in June 2024. With an initial ₹7,000 crore already invested, the port's expansion is aimed at keeping up with rising transhipment traffic and unlocking its full potential. 3x global operations by 2030 Looking overseas, APSEZ is laying out bold plans to triple its international operations by 2029-30. With major investments in Israel, Tanzania, and Sri Lanka, the company is aiming to handle 140–150 million metric tonnes (MMT) of cargo globally by the end of the decade. Domestic volumes are also expected to grow steadily, with capacity projected to reach 820-850 MMT. To fuel this ambition, APSEZ is doubling down on key global assets, including Israel's Haifa port, the under-construction port in Tanzania, and Colombo West International Terminal in Sri Lanka. Conclusion Indian port industry will grow at the rate of 4-7% over the next five years, supported by rising imports, a decline in freight costs, and the normalisation of global supply chains, according to a report by Motilal Oswal. Along with its expansion plans, Adani Ports' is set to benefit from the growth of the industry as well. But with the ongoing conflict in the Middle East and uncertainties surrounding its Haifa port investment, all eyes are on the company's global impact. It's important to conduct thorough research on financials and corporate governance before making investment decisions, ensuring they align with your financial goals and risk tolerance. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Mint
a day ago
- Business
- Mint
Ambuja Cements raises stake in Orient Cement to 72.66%. Details here
Adani Group stock Ambuja Cements has acquired a 26 percent stake in Orient Cement, pushing its total shareholding in the company to 72.66 percent. The strategic acquisition was executed via an open offer under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, and marks a major consolidation move within the Indian cement sector. In a regulatory filing dated June 18, 2025, Ambuja Cements disclosed the purchase of 5.34 crore equity shares in Orient Cement at ₹ 395.40 apiece. This acquisition—amounting to exactly 26 percent of Orient Cement's total share capital—was conducted through an open offer extended to public shareholders. Prior to this transaction, Ambuja held 9.58 crore shares or 46.66 percent stake in the company. With this latest round of acquisition, its total ownership has risen to 14.92 crore shares, accounting for 72.66 percent of Orient Cement's equity. The transaction did not involve any complex financial instruments such as convertible securities, warrants, or pledged shares. Ambuja acquired only direct equity shares with voting rights, making the deal transparent and compliant with regulatory guidelines. The acquisition is part of Ambuja Cements' long-term expansion strategy and dovetails with the Adani Group's broader ambitions in the infrastructure and building materials space. By crossing the 70 percent ownership threshold in Orient Cement, Ambuja is expected to gain greater operational control and the ability to drive synergies across manufacturing, logistics, and marketing. This move comes at a time when the Adani Group is aggressively scaling up capacity through both organic and inorganic routes. With Orient Cement now firmly under its control, Ambuja could leverage its distribution and production capacity more efficiently across regions. In a post-deal note, global brokerage Jefferies maintained a bullish stance on Ambuja Cements. 'We maintain our 'Buy' rating on Ambuja Cement with a target price of ₹ 700, implying a 29 percent upside from current levels,' the brokerage said. Jefferies also highlighted that management is on track to scale cement capacity to 140 million tonnes per annum by FY28, up from 100 MTPA currently. 'The company is focused on cost efficiencies and expects industry demand to recover to 7-8 percent in FY26,' Jefferies added. According to the management, recent pricing trends have also shown improvement, indicating a more favorable operating environment going forward. Despite the strategic significance of the deal, the market reaction has been mixed. Ambuja Cement shares traded flat on June 19, slipping marginally by less than one percent. The stock is down over 2 percent so far in June. Meanwhile, Orient Cement has seen significant volatility. After plunging over 16 percent in the previous session, the stock fell another 1 percent in intra-day trading today. For June so far, Orient Cement has tanked nearly 28.5 percent, likely reflecting investor concerns around valuation, open offer pricing, or future integration uncertainties. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
