Adani Group Adani Ports

On Friday, Fitch Ratings affirmed Adani Energy Solutions Limited's (AESL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'

Adani Green Energy Twenty Five, a step-down subsidiary of Adani Green, has commissioned a 250 MW solar power project at Rajasthan

Notably, Adani Ports shares were among the top gainers among the 30 constituent stocks of the BSE Sensex

In two days, the stock price of Adani Enterprises and Green Energy have tanked by 28%, Adani Energy slipped 27%, while Ports, Power, Total Gas, Wilmar and Ambuja Cements are down between 14% and 18%

Other Adani Group entities also saw losses, which include Adani Green 0.45 per cent, Adani Energy Solutions 0.62 per cent, Adani Total Gas 0.53 per cent and Adani Wilmar 0.46 per cent

Adani Ports and Special Economic Zone Ltd (APSEZ) handled its highest-ever monthly cargo volume of 420 MMT in April 2024

Kerala Port Minister V N Vasavan on Tuesday said Adani Ports has been given an extension to complete the dredging activities in the navigation channel of nearby Muthalappozhi harbour, which has been witnessing frequent boat accidents and deaths for some years. While giving a reply during the question hour, the minister said the government had entered into an agreement with the Adani Ports in this regard in 2018, and the contract expired on June 11 this year. However, the company was given an extension to complete the work as it was delayed, he said. When legislator Saneesh Kumar Joseph (Congress) asked whether the government would be ready to take action against the port authorities for failing to fulfill its assurance, the minister, who spoke on behalf of Fisheries Minister Saji Cheriyan in his absence, didn't give a clear reply. "It is true that the contract period with Adani Ports was over. So, the port representatives and respective ministers held discussions and gave extension

Addressing an annual general meeting with shareholders, Adani Group chairman Gautam Adani pointed out that certain sections of the media played a role in amplifying the attack

The uptick in share price came after the company announced that it has secured a Letter of Intent (LoI) for operation and maintenance of container terminal at Kolkata Port

Adani Enterprises, Adani Power and Adani Wilmar can potentially rally up to 30 per cent from present levels, suggests the key retracement ratios.

Analysts said Adani Ports could be assigned a weightage of 1.2 per cent in the Sensex

Adani Ports holds a 65.89% stake in the company, mutual funds owns 3.1% stake, while India's largest insurance company, LIC, holds a 7.86% stake

Adani Ports aims to increase cargo traffic in the Middle East, Southeast Asia, Africa, and the Mediterranean through strategic acquisitions and partnerships over the next 3-5 years

US defence contractor L3Harris Technologies and China's Weichai Power have also been excluded

Gopalpur Port handles primarily dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina

Analysts termed Monday's fall as a knee jerk reaction and said the group stocks could gain as the conglomerate has got a clean chit vis-a-vis the allegations by Hindenburg Research

Adani Ports & Special Economic Zone is pursuing a potential Rs 1,100-1,200 crore acquisition of Gopalpur Ports from Shapoorji Pallonji Group, which would bolster its presence along the eastern coast

Barring Adani Ports and Special Economic Zone, no other group company of Adani shows a favorable trend in the present technical structure,

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

This comes after questions were raised about his status following short-seller Hindenburg Research naming him prominently in its January report