Adani Ports

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Billionaire Gautam Adani-led conglomerate on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding. In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy. The company said it has withdrawn its 2023 "request for financing from the US International Development Finance Corporation (DFC)". The US International Development Finance Corp, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo West International Terminal (CWIT) at the Port of Colombo in Sri Lanka. The CWIT is being developed by a consortium of Adani Ports, Sri Lankan conglomerate John Keells Holdings Plc, and the Sri Lanka Ports Authority (SLPA). DFC ...

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The Centre has allowed Adani Krishnapatnam Port in Andhra Pradesh to import petroleum into India up to March 1, 2026, according to an official notification. The port has been allowed to import petroleum by sea from August 28, 2024, till March 1, 2026, in public interest, according to the notification by the Ministry of Ports, Shipping and Waterways. Owned and operated by Adani Ports and Special Economic Zone Limited (APSEZ), Adani Krishnapatnam Port Ltd is an all-weather deep water port located on the East Coast of India in Andhra Pradesh. Adani Ports & SEZ shares were trading higher by 0.56 per cent at Rs 1,267.30 on BSE in the pre-close session.

The notification to allow continued petroleum imports at Krishnapatnam Port had a positive impact on the shares of Adani Ports, which gained over 1 per cent intraday on the Bombay Stock Exchange

As part of its investments, it plans to set up four new cement plants to build additional capacity of 6 million tonnes per annum

Says Kerala does not see labour unrest unlike many other states

US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd. JP Morgan gives three kinds of ratings for bonds - 'Overweight' rating which falls into a buy rating category; Neutral rating which falls into a hold rating category; and 'Underweight' which rating falls into a sell rating category. Under the risks section, it said that Adani bonds could do well than anticipated if there is a quick resolution of the US SEC and Department of Justice indictments of founder chairman Gautam Adani and key aides on bribery charges, successful refinancing of the upcoming ...

Motilal Oswal Financial Services believes that the company is very well placed to continue to outpace industry growth and gain market share.

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

As per the agreement signed on Thursday, the project, envisioned as a transformative step in Kerala's maritime infrastructure, will see its second and third phases nearing completion by 2028

Adani Ports also struck a share purchase agreement for a 95 per cent stake in state-owned Tanzania International Container Terminal Services for $95 million

The state cabinet meeting, chaired by Chief Minister Pinarayi Vijayan, approved the draft supplementary concession agreement

US International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka

Stock Market Highlights: Benchmark Indian equity indices, the BSE Sensex and NSE Nifty50, settled higher by over 2 per cent each on Friday.

Gautam Adani, along with other executives, has been charged by US prosecutors for allegedly bribing ($250 million) Indian officials.

Given APSEZ's market leadership and operational efficiency, it is set to remain a dominant beneficiary of growth in the ports sector with capex plans being funded via a mix of debt & internal accruals

During the quarter, the company handled a total cargo of 111 MMT, up 10 per cent YoY

The development will add a capacity of 5.7 MMT to the port operator's existing capacity of 580 MMT