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Let the Vandalism Begin: Adani Strikes Coal - The News Chronicle
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Let the Vandalism Begin: Adani Strikes Coal
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Saturday, 26 June 2021, 3:41 pm
He began on RN
Breakfast by claiming that he, and his company, would be
open and transparent about mining operations. But Lucas Dow,
chief executive of Adani’s Australian operations, soon
revealed in his June 25 interview that his understanding of
transparency was rather far from the dictionary version.
When asked how the Carmichael Coal Mine was getting its
water, he claimed that these were from “legally regulated
sources” and in commercial confidence. Businesses work
like that, he stated forcefully, preferring to praise the
company for it – and here, he meant no irony – its sound
ecological credentials in solar energy and
Great Barrier Reef | A fabled wonder in danger
thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
The past 12 months have been of the rise of the Adani group. Once a medium-sized group based out of Ahmedabad, Adani’s companies now have the third-biggest market capitalisation among family-owned businesses in India after Tatas and Reliance Industries. This has made the group owners and promoters the Gautam Adani family the second wealthiest in business in India, ahead of older and well-established industrial families.
Most of the gains to the group accrued in the past one year. The combined market capitalisation of six Adani group companies is up nearly 455 per cent since the end of March 2020 against an 80 per cent rise in the combined market capitalisation of the country’s top 1,000 listed firms. The Adani group companies now have a combined market capitalisation of around Rs 7.3 trillion, up from Rs 1.31 trillion at the end of March 20.