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Adani Ports gains on incorporation of subsidiary

Capital Market 

Adani Ports and Special Economic Zone rose 0.84% to Rs 658 after the company said that it had incorporated a wholly owned subsidiary company Aqua Desilting.

The company's subsidiary would carry out the business of dredging / desiltation and sale / disposal of such desilted material from sea, river, dams, other water bodies etc.

Aqua Desilting is incorporated on February 19, 2021 and is yet to commence its business operations. The authorized share capital of the Adani Group company is Rs 10 lakh and the paid-up share capital is Rs 1 lakh.

APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, February 22 2021. 09:20 IST