The Adani Group is having a tumultuous week.
Following media reports that three foreign funds that owned over ₹43,500cr ($5.96bn) worth of shares in four Adani Group firms had been frozen, the stocks of all six of the conglomerate's listed companies climbed down.
However, following the Group's forceful denunciation of the accusations, its individual stocks recuperated most of their losses.
All in all, the intraday day movement for Adani's stocks on Monday was more than 40%. Quite the rollercoaster ride!
What's app the hullabaloo about?
Click link to know: https://transfin.in/explained-why-adani-group-stocks-fell-on-monday-and-why-it-matters
November 29, 2019: Flughafen Zürich AG, the owner and operator of Zurich Airport, emerged as the biggest bidder to design, develop and operate the new Noida International Airport at Jewar, 80 kilometres south to the capital city along the Yamuna Expressway towards Agra.
Delhi International Airport, Adani Enterprises and Anchorage Infrastructure Investments Holdings were the other bidders for this Airport.
The Swiss company is expected to invest Rs4662 crore for the construction in four years after which the 5000-acre airport will be handling 12 million passengers per year and is expected to contain the rising traffic growth in the National Capital Region (NCR).
Flughafen Zürich AG was elected as Selected Bidder for the concession to design, develop and operate the new Noida International Airport at Jewar in India.
“Flughafen Zürich AG is excited to be again present in India, a focus market for the company.
With the award of the concession for the new Noida International Airport, Flughafen Zürich AG will participate in the expected growth of the Indian aviation market and will implement its best practices developed in Switzerland while maintaining the local Indian values.
Essar Power’s Mahan power station supplies power through the Mahan-Sipat cable and is additionally connected with a railway siding 18 km far away from the plant for the availability of coal and other raw materials.
consistent with industry sources, Adani Power will distribute on the brink of Rs 3,000 crore for the Mahan Project.Adani Group has been on a purchasing spree for power generation assets across the country.
Last month, Adani Group’s renewable energy arm Adani Green Energy acquired SB Energy’s solar and wind generation portfolio from Softbank and Bharti Group.Read more