Page 4 - Adani Ports And Special Economic Zone

Adani's AICTPL becomes 1st in India to handle 300,000 containers in a month

Adani International Container Terminal Pvt Ltd (AICTPL) has become the first terminal in India to handle over 3 lakh containers in a month. AICTPL is a joint venture terminal of Adani Ports and Special Economic Zone (APSEZ) in Mundra. "AICTPL created a national record by handling 3,00,431 TEUs across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day," APSEZ said in a BSE filing. TEU refers to twenty-foot equivalent unit. "AICTPL becomes the first terminal in India to handle over 3,00,000 containers in a month," the filing added. The company also informed that APSEZ handled about 36 million metric tonne (MMT) of the total cargo in November 2023, up 42 per cent year-on-year. In the initial 8 months of FY24, APSEZ handled 275 MMT of cargo. APSEZ's Dhamra & Ennore Ports recorded their highest-ever monthly volumes. According to the statement, logistics volumes continue to witness record growth with ..

CWIT first phase likely to be operational by Dec 2024: Karan Adani

The first phase of Colombo West International Terminal (CWIT) is likely to be operational by December 2024, Adani Ports and Special Economic Zone (APSEZ) Whole Time Director and CEO Karan Adani has said. The US International Development Finance Corporation (DFC) will provide USD 553 million in financing to Colombo West International Terminal Pvt Ltd a consortium of India's largest port operator Adani Ports and SEZ Ltd, Sri Lanka's leading enterprise John Keells Holdings (JKH) and the Sri Lanka Ports Authority. "So, on the Colombo port, we expect commissioning and operationalizing of Phase 1 by December of 2024. Now, we have already given our...capex guidance," Adani said in a conference call. DFC is the US government's development finance institution. "As you know, in Colombo port, we have a JV partner as well, where we have 51 per cent and 49 per cent shared by the other two partners, SLPA and John Keells. So, they bring in their respective equity into that project as well," he .

Adani hikes stake in two group companies to work on claw back strategy

Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses. The promoters had last month increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent. The promoter group has also increased stake in Adani Ports and Special Economic Zone Ltd from 63.06 per cent to 65.23 per cent, the filings showed. Resurgent Trade and Investment Ltd bought almost one per cent stake in Adani Ports and Special Economic Zone Ltd in open market transactions and another 1.2 per cent was purchased by Emerging Market Investment DMCC. Both are promoter group .

What is OCCRP that has levelled allegations against Adani and Vedanta?

A report published by OCCRP has accused Adani Group of routing investments in its publicly traded stocks through "opaque" Mauritius funds. But what is OCCRP, and why is it accusing the Adani Group

Adani Ports for minimum 50 yrs of concession period in PPP projects

Adani Ports and Special Economic Zone (SEZ) on Monday emphasised the need for an "extended" concession period of at least 50 years and a comprehensive dispute resolution mechanism in the Public-Private Partnership (PPP) model in infrastructure projects. The suggestions made by Adani Ports and SEZ CEO (Ports) Subrat Tripathy at the roadshow of the 3rd Global Maritime India Summit 2023 here were in sync with the ongoing discussions aimed at bolstering India's maritime infrastructure and attracting significant global investments. "I want to highlight to the minister and the offices of the Ministry of Shipping for both shipping and that a 30-year concession period may not be adequate. The new concession regime already recognises the ability to roll over, but I believe that a 50-year concession period would be more beneficial, Tripathy said. This would provide a greater incentive for investors to come forward and ensure that adequate revenues are met, he said. It would also help mitigat

Adani Ports Q1FY24 results: Consolidated net profit up 80% to Rs 2,119 cr

The net profit was 85.7 per cent higher as compared to Rs 1,140.97 crore in the quarter that ended on March 31

Adani Ports & SEZ total cargo volumes jump 7% YoY to 34 MMT in July

The company's logistics volumes continue to record significant jump with year-to-date (YTD) rail volumes of 178,689 TEUs

Total cargo handling at APSEZ ports jump 19% in May, YTD numbers up 16%

Growth was seen in almost all the ports and in all three segments of its business, the company said

Adani Ports completes sale of Myanmar Port at discounted price of $30 mn

Exit in line with guidance of risk committee, says CEO

APSEZ cargo handling rises 13% in April YoY, credits improved infra

Four ports recorded significant sequential growth in monthly volumes, says company

Adani Ports bond buyback allays refinancing risk: S&P Global Ratings

The company, part of the beleaguered Adani Group, should be able to lower its debt well ahead of the maturity of its unsecured notes worth $650 million, due in July 2024, S&P added

Adani Ports closes FY23 with 9% higher cargo at 339 million metric tonnes

Container rakes handled by the logistics arm of the company crossed 500,000 TEUs in the previous fiscal, showing a growth of 24 per cent

Adani Group loan repayment: How do promoters raise money through pledging?

Adani Group: The repayment of the loan will release the pledge on shares of promoters in four Adani Group companies, Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission

Adani group shares extend fall; Adani Total Gas tanks 79% in one month

Adani Power (Rs 162.60), Adani Transmission (Rs 788.75), Adani Total Gas (Rs 834.95), Adani Green Energy (Rs 539.30) and Adani Wilmar (Rs 390.35) were locked at 5 per cent lower circuit today

6 out of 10 Adani group stocks locked at 5% lower circuit in firm market

The Central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected.

Adani Ports rises for second straight day; stock up 26% from Monday's low

The stock rose even as global rating agency Standard and Poor's (S&P) on Friday revised the outlook on Adani Ports and Adani Electricity from 'stable' to 'negative'

Adani Green, Adani Ports and 31 other BSE500 stocks hit 52-week lows

Shares of Indus Tower, Vodafone Idea, Aurobindo Pharma, TV18 Broadcast, Voltas and Whirlpool of India were among total 33 stocks from the S&P BSE 500 index that hit their respective 52-week lows

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

Adani Ports acquires 49.38% stake in Indian Oiltanking for Rs 1,050 crore

Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said that it has acquired 49.38 per cent stake in Indian Oiltanking Ltd -- developer and operator of liquid storage facilities -- for Rs 1,050 crore. APSEZ in a statement said this agreement also includes acquisition of an additional 10 per cent equity stake in IOT Utkal Energy Services Ltd, a 71.57 per cent subsidiary of IOTL (Indiain Oiltanking Ltd). "APSEZ has entered into a definitive agreement for the acquisition of Oiltanking India GmbH's 49.38 per cent equity stake in Indian Oiltanking Ltd, which is one of India's largest developer and operator of liquid storage facilities," it said. According to the statement, the acquisition is well aligned with APSEZ's strategy of becoming the largest transport utility. The statement said over the last 26 years, IOTL has built a network of six terminals across five states with a total capacity of 2.4 Mn KL (owned capacity of 0.5 Mn KL and BOOT capacity of 1.9 Mn KL) for stora

Sensex snaps 4-day winning run, slips 215 pts ahead of US Fed rate decision

Market Wrap: Bharti Airtel, Maruti, HCL Technologies and Hindustan Unilever were the prominent losers, while ITC and Sun Pharma finished with steady gains.