JSW Group shares declined up to 4 percent in intra-day trade on Monday after a first information report (FIR) was filed against Chairman Sajjan Jindal by a Mumbai woman, accusing him of rape. However, the chairman of the steel-to-power conglomerate has denied the allegations.
Adani Ports is in advanced talks to acquire Shapoorji Pallonji Groups (SP) Gopalpur Ports as part of a neatly woven string-of-pearls strategy that involves owning considerable facilities along both the eastern and western water margins, the Economic Times reported said.
The acquisition of PNP Port will allow the company to service growing share of third party customers in India and derive huge synergies with the existing ports and terminals.