INVC NEWS
Mumbai : It seems that Adani Group, associated with various businesses, has now come out of the Hindenburg effect. Within a week the group opened a $1.2 billion copper plant, bought a port in Orissa and increased a stake in a cement company. It has also signed an agreement with Mukesh Ambani’s Reliance, which is considered its rival.
The group, through its filings and press releases to the stock exchanges over the past week, highlighted the expansion and investment in its core port business, diversification into metal refining, capital infusion into its two-year-old cement sector and the commissioning of its mega solar project. Continual progress has been announced.
Analysts say the announcements made in the last one week indicate that Adani is on the path to expansion again. The company management said in a recent filing with investors that the group has planned a capital expenditure of Rs 7 lakh crore over the next decade to expand its infrastructure business.
