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Adani shrugs off Hindenburg effect, back to rapid expansion spree

Thehindubusinessline · 1y

The Adani Group has demonstrated a rapid expansion spree in recent weeks. Key developments include the acquisition of a stake in Gopalpur Port, the opening of a $1.2 billion copper manufacturing plant, investment in Ambuja Cements, the commissioning of a solar project, and a collaboration with Reliance Industries for a power project. These moves indicate that the conglomerate has put behind the Hindenburg effect, with its share prices recovering and revenues growing. The Adani Group plans to continue expanding its infrastructure business with a planned capital expenditure of ₹7 lakh crore over the next decade.