Adani Ports, Adani Energy shares to be in focus; here's why

Shares of two Adani Group firms—Adani Energy Solutions and Adani Ports—are likely to be in focus on Monday, June 2.

The board approved the raising of funds by the issuance of equity shares having a face value of ₹10 each or other securities or any combination for an aggregate amount of up to ₹4,300 crore through qualified institutional placement or other modes, in one or more tranches.

The board also approved the appointment of CEO Kandarp Patel as an Additional Director and Whole Time Director & CEO of the company for a term of three years with effect from May 31, 2025.

It approved the appointment of Hemant Nerurkar, Amiya Chandra and Chandra Iyengar as Additional Directors (Non-Executive and Independent) for three years.

The company on Friday had secured an interstate transmission project in Maharashtra worth ₹1,600 crore. With this, its transmission order book now stands at ₹61,600 crore.

The scope of the latest secured project includes the establishment of 3,000 Mega Volt-Amperes (MVA) of substation capacity, besides other related transmission infrastructure, taking AESL's overall transmission network to 26,696 ckm and 93,236 MVA of transformation capacity.

AESL is scheduled to commission the project by January 2028.

The company said it has won this Inter State Transmission System (ISTS) project under the Tariff Based Competitive Bidding (TBCB) mechanism, while REC Power Development and Consultancy Ltd (RECPDCL) was the bid process coordinator.

On Friday, shares of Adani Energy Solutions settled at ₹867.80 apiece on the National Stock Exchange, slipping 1.49%.

Meanwhile, shares of Adani Ports will also be on the investors’ watch on Monday as India's largest integrated transport utility raised ₹5,000 crore in its largest ever domestic bond issue.

"Backed by APSEZ's strong financials and a 'AAA/Stable' domestic credit rating, the issue locked in a competitive coupon rate of 7.75% p.a. and was fully subscribed by LIC. The debentures will be listed on the BSE," it said.

The company’s board on Saturday, May 31, also approved “a tender offer of its outstanding senior notes up to $1 billion in one or more tranches over the next six financial quarters and has authorised the Finance Committee of the Company to determine the timing, detailed terms, and conditions thereof,” it said.

Shares of Adani Ports declined 0.44% on Friday to close at ₹1,432.30 apiece on the National Stock Exchange.