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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Adani Enterprises Limited    512599   INE423A01024

ADANI ENTERPRISES LIMITED

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Adani Enterprises : Lloyd's insurer Brit says it will not insure Adani coal mine

02/23/2021 | 07:07am EST
The Lloyd's of London building is lit by winter sun in the City of London financial district in London

LONDON (Reuters) - Major Lloyd's of London insurer Brit will not insure Adani Enterprises' Carmichael thermal coal mine, it said on Tuesday, adding to a growing list of Lloyd's insurers who have made similar pledges.

Carmichael has provoked controversy in Australia with its plan to open up a new thermal coal basin at a time of growing concern over global warming, in a region that is in need of jobs.

"Brit does not, has never, and will not write any policies relating directly to the Adani Carmichael coal mine itself," Brit said in an emailed statement.

"Brit also confirms that it does not plan to renew any risks involving any other works directly associated with the project."

Twenty-six Lloyd's syndicates have now said they will not insure the mine, according to action group Insure Our Future.  

Adani has begun construction at Carmichael together with an associated rail project, with plans to start producing 10 million tonnes of coal per year from 2021.

The coal industry is in the spotlight for its higher levels of greenhouse gas emissions than crude oil.

Many insurers, particularly in Europe, have pulled back from insuring thermal coal, but Lloyd's of London insurers have continued to do so, industry sources say.

This is likely to change after Lloyd's issued its first climate strategy for its 100 syndicate members in December 2020, ending its previous hands-off approach to the issue.

(Reporting by Carolyn Cohn; Editing by Jan Harvey)


© Reuters 2021
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Financials
Sales 2021 406 B 5 497 M 5 497 M
Net income 2021 12 879 M 174 M 174 M
Net Debt 2021 - - -
P/E ratio 2021 71,2x
Yield 2021 -
Capitalization 916 B 12 369 M 12 397 M
Capi. / Sales 2021 2,26x
Capi. / Sales 2022 2,13x
Nbr of Employees 2 042
Free-Float 19,3%
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Technical analysis trends ADANI ENTERPRISES LIMITED
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Mean consensus HOLD
Number of Analysts 1
Average target price 500,00 INR
Last Close Price 833,20 INR
Spread / Highest target -40,0%
Spread / Average Target -40,0%
Spread / Lowest Target -40,0%
EPS Revisions
Managers and Directors
NameTitle
Rajesh Shantilal Adani Managing Director & Executive Director
Jugeshinder Singh Chief Financial Officer
Gautambhai Shantilal Adani Executive Chairman
Jatin R. Jalundhwala Secretary & Joint President-Legal
Hemant Madhusudan Nerurkar Independent Non-Executive Director
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