Adani Group Expands Defense Production and Ammunition Manufacturing Capability
Adani Defence Aerospace to Manufacture Full Spectrum of Ammunition
Adani Defence Aerospace, a subsidiary of the Adani Group, has announced its plans to establish a full spectrum ammunition manufacturing facility in India. The facility will cater to the Indian Armed Forces' growing demand for domestic ammunition production.
Increased Stake in Ambuja Cements
In addition to its defense operations, the Adani Group has also increased its stake in Ambuja Cements, a leading cement company in India. The group has raised its stake from 66.7% to 70.3%, further solidifying its position in the construction materials sector.
U.S. Widens Investigation into Adani Group
Meanwhile, Reuters reports that the United States has widened its investigation into the Adani Group, focusing on potential misconduct. The group has been accused of accounting irregularities and stock manipulation, allegations that the company has denied.
Corporate Social Responsibility Initiatives
Despite the ongoing investigation, the Adani Group continues to emphasize its commitment to corporate social responsibility. The group's "Growth is incomplete without goodness" initiative focuses on improving lives and creating sustainable growth in communities across India.
Comments