Adani Ports and SEZ rises as arm incorporates WOS In Dubai

Adani Ports and Special Economic Zone rose 1.76% to Rs 808.40 after the company announced that Adani Harbour Services (TAHSL), Wholly Owned Subsidiary (WOS) of the company has incorporated a WOS in the name of The Adani Harbour International DMCC.

The Adani Harbour International DMCC has been incorporated as a wholly owned subsidiary of TAHSL on 22 December 2022, for the purpose of carrying out the activities relating to barges & tugs charter, marine tours operation, sea freight and ship charter.

TAHSL incorporated TAHIDMCC with an initial share capital of AED 1,00,000 divided into 100 shares of value AED 1,000 each and said that it is yet to commence its business operations.

AALSL is incorporated in Dubai and registered under regulations of Dubai Multi Commodities Centre authority on 22 December 2022. It belongs to shipping and marine industry.

Adani Ports & Special Economic Zone is engaged in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to Port at Mundra.

The company's consolidated net profit surged 68.53% to Rs 1,677.48 crore on 32.83% jump in revenue from operations to Rs 5210.80 crore in Q2 FY23 over Q2 FY22.

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