adani green energy

US authorities are reportedly moving to end fraud cases against Gautam Adani, with the Department of Justice potentially dropping criminal charges and the SEC nearing a settlement in its civil case. This development could offer a significant legal reprieve for the billionaire and the Adani Group, which has been facing regulatory scrutiny.

Adani Group stocks surged up to 13% after Gautam Adani sought dismissal of a US SEC civil case, citing no credible evidence of bribery. Lawyers argued the alleged actions were extraterritorial and took place in India. This, along with a positive outlook for adani green energy, boosted investor sentiment.

Gautam and Sagar Adani are challenging a US SEC securities fraud lawsuit, arguing the case lacks US jurisdiction and credible bribery evidence. They contend investors suffered no losses from the 2021 Adani Green bond issue, which they claim was conducted entirely outside the US. The Adanis deny wrongdoing and seek dismissal of the SEC's claims.

adani green energy's consolidated net profit more than doubled to Rs 103 crore in the December quarter, mainly on the back of higher revenues. The consolidated net profit of the company was at Rs 49 crore in the year-ago period, according to a BSE filing on Tuesday.

adani green energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, on Tuesday said its cash profit surged by 48 per cent year-on-year to Rs 680 crore for the quarter ended June 30.

Three subsidiaries of adani green energy Ltd — adani green energy (UP) Ltd, Prayatna Developers Ltd and Parampujya Solar Energy Ltd, raised Rs 612.3 crore for debt financing via NCDs. The companies collectively house 930 megawatt of operational solar power projects.

adani green energy has announced a 51% increase in consolidated net profit to INR 323 crore ($43.4m) in the June 2023 quarter due to higher revenues. The total income increased to INR 2,404 crore in the reported quarter from INR 1,701 crore over the same period last year.

A day after getting Rs 7,374-crore of pledged shares released, the Adani group pledged shares of Adani Transmission and adani green energy worth Rs 1,670 crore to support loans taken by flagship.

A day after Gautam Adani released Rs 7,374-crore of pledged shares related to four of his companies, the group’s chairman has pledged more shares of two companies — Adani Transmission and adani green energy — to support loans taken by flagship Adani Enterprises.

TotalEnergies has halted further investments in the Adani Group following bribery allegations against top officials. The French energy giant stated it wasn't aware of the US investigation and will protect its interests as a minority shareholder in adani green energy. TotalEnergies emphasized its existing investments were made in compliance with all laws.