What is ADANI?
Australian mining company, with interests in coal, oil and gas. ADANI has been involved in a controversy over the Carmichael coal mine in Queensland. The mine is set to become one of the largest coal mines in the world and has drawn protests from various environmental groups.
ADANI has been in the news for all the wrong reasons recently and its share price has taken a beating as a result. However, there are still some things you can do to track ADANI’s stock prices and stay up-to-date with all the latest news. In this article, we will list all the ADANI stocks and provide you with key information about each one.
ADANI share price-Today’s levels
Today’s ADANI share price is Rs. 468.5, up 2.95% on the day. ADANI has a market capitalization of Rs. 46,016 crore and its total shares outstanding are 1,708,000,000.
ADANI share price-Yesterday’s levels
ADANI Ltd expected to announce its first-quarter results on May 2. The company’s share price was trading at Rs. 665.30 on the BSE as of 10:36 a.m. on May 1, down 4.75% from the previous day’s close of Rs. 703.00. The stock has gained 531% over the past 12 months, making it one of India’s most successful stocks in terms of performance….
The company is scheduled to release its full-year earnings report for 2016-17 on May 9 and will hold a conference call to discuss these results on May 10 at 8:00 a.m Indian Standard Time (IST). analysts polled by Reuters expect ADANI Ltd.’s net profit for 2016-17 to be marginally lower at Rs 2,10,000 crore compared with 2015-16 due to higher spending associated with its pending coal mine projects in Queensland, Australia and development of the Carmichael coal mine in Queensland….
The Australian government has granted approval for the mine, which would require the construction of a port and railway line alongside the Galilee Basin….
ADANI share price-News and updates
ADANI has seen a minor decline in its share price of Rs. 299.05 on the BSE following reports that the Indian government may not support the proposed Adani Carmichael mine in Queensland, Australia due to environmental concerns. The company’s debt remains manageable and should not present a major risk, although future development plans may be affected.
Readers are advised to monitor ADANI’s stock price as it could go up or down depending on market conditions and news updates. However, debt levels remain manageable at present and should not present a major risk.
ADANI share price-Overview
The share price of the Indian conglomerate, ADANI Limited, has been on a roller coaster ride lately with the stock jumping 10% in early trading on Monday after announcing plans to build a massive coal mine in Queensland.
ADANI is one of India’s largest private sector companies and its holdings include ports, airports and power plants. The company announced plans to build a $16 billion coal mine in Queensland that would create tens of thousands of jobs.
Environmentalists have voiced concerns about the mine and its potential effects on the environment. However, some analysts see ADANI’s move as a strategic move by the company to diversify into new markets.
ADANI Share Price Chart
ADANI share price is currently trading at Rs.214.0 on the BSE. The stock has gained 5% in the last 3 months and is up 10% so far this year. In terms of market capitalization, it is ranked 21st with a value of Rs 56,000 crore.
The company plans to invest an estimated Rs 22,500 crore over the next five years in its various projects across India. These include the 1,172 MW Adani Power plant in Andhra Pradesh and 2,000 MW Mundra Deep Sea Port project in Gujarat.
In March 2018, ADANI announced its partnership with China’s biggest renewable energy manufacturer Suntech Power Holdings Co., Ltd to set up a 400 MW solar power plant in Maharashtra. This will be ADANI’s third such venture with a Chinese firm after setting up a 50 MW solar power plant with JA Solar Co., Ltd and a 100 MW wind farm with Suzlon Energy USA Corporation.
Latest News about ADANI
The company is a part of the Adani Group and has interests in thermal power generation, ports and logistics, mining and coal products. ADANI was founded by Gautam Adani with a capital of US$10 million.
March 2017, the Gujarat High Court upheld the environmental clearance granted to Adani Enterprises for its proposed Carmichael coal mine in Queensland, Australia. December 2017, India’s Ministry of Environment, Forests and Climate Change cleared the company to begin construction on the mine.
May 2018, Reuters reported that Australian authorities were investigating allegations that financial institutions had helped finance the $16 billion Carmichael coal mine project without disclosing potential conflicts of interest. June 2018, it was announced that Adani would sell its 50% stake in Queensland’s Abbot Point port to Chinese state-owned enterprises for A$2 billion ($1.8 billion).
July 2018, Adani announced plans to invest US$5 billion in a 388-kilometer railway network connecting its mines in central India to ports on the east coast of India.
List of ADANI stocks
ADANI is an Indian Infrastructure Development Company that was founded in 2007 by the Adani Group. ADANI is headquartered in Ahmedabad, Gujarat and has operations in India, Indonesia, Thailand, Australia, and the United Arab Emirates. The company’s core businesses include coal mining and thermal power generation.
Conclusion
The share price of the company ADANI surged 7.5% on Wednesday after it announced that it had won a key environmental permit from the Queensland government to build Australia’s biggest coal mine. The Carmichael Mine, which was previously estimated to cost $16.5 billion, would produce up to 100 million tonnes of thermal coal per year and create around 10,000 jobs in regional Queensland.