look news india
Ambani-Adani friendship: When it comes to business, no one can beat Gujaratis. Today, two such Gujaratis have brought glory to the name of Gujarat in the industry in the country and the world. Here we are talking about Ambani and Adani groups. Here we are talking about Mukesh Ambani and Gautam Adani. These two Gujaratis joined hands for the first time to work together in the business sector and created a stir in the stock market. What is Jihaan? Read complete information in detail…
Today, Ambani and Adani groups are making Gujarat famous all over the world in the field of business. There is hardly any field in which these Gujaratis do not work. A new revolution is about to come in the business sector. Yes, for the first time these two groups have joined hands in the business sector. Will these two Gujaratis, who were considered rivals, work together now? Questions arise. So without creating much suspense, let us know why these two groups have suddenly come into discussion together. Ambani and Adani, two Gujarati businessmen considered to be the top business houses of the country, have collaborated for the first time. Everyone's eyes are on what these two groups are going to do next, investors are also waiting for the same.
Reliance Group buys stake in Adani's power project:
Mukesh Ambani's Reliance Industries has bought 26 per cent stake in Gautam Adani's Madhya Pradesh power project, and signed an agreement to use 500 MW of power for captive use at the plants. Reliance will purchase 5 crore equity shares in Mahan Energy Limited, a wholly owned subsidiary of Adani Power Limited, at a face value of Rs. 10 (Rs 50 crore) and 500 MW of generation capacity will be used for captive use, the two companies said in stock exchange filings.
Adani Power Limited, an Adani Group company, has signed a 20-year long-term power purchase agreement (PPA) for 500 MW with Reliance Industries. In a Bombay Stock Exchange filing, Adani Power said the company's subsidiary Mahan Energy (MEL) has signed the agreement. MEL has a total operating capacity of 2,800 MW. Out of this, it is proposed to make one unit of 600 MW as a captive unit. Reliance has purchased 5 crore shares of Mahan Energy Limited at the face price of Rs 10. It is noteworthy that the turnover of Mahan Energy in 2022-23 was Rs 2,730.68 crore.
New revolution will happen by joining hands of Adani-Ambani:
Instead of saying there is a merger between these two groups, it would be more important to say that there has been a strategic investment between the two groups in the power-energy sector. Mukesh Ambani's Reliance Industries has bought 26 per cent stake in Gautam Adani's Madhya Pradesh power project, and signed an agreement to supply 500 MW of power to the plants for captive use. Through this, more work can be done on renewable energy and green hydrogen in future.
Adani-Ambani's increasing investment in energy sector:
Ambani's interests range from oil and gas to retail and telecom sectors, while Adani's focus has largely been on ports to airports, coal and mining, but rarely have the two giants crossed paths . Both groups have announced investments worth billions of rupees in clean energy alone.
