Read more about Adani Ports gains on incorporation of subsidiary on Business Standard. 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.
DPL, the 12th port to join APSEZ s string of economic gateways across the eastern and western coast of India will establish the company s footprint in Maharashtra, the largest contributor to India s GDP
Read more about Sensex corrects 400 pts on profit selling on Business Standard. As per the provisional closing data, the S&P BSE Sensex, tumbled 400.34 points or 0.77% at 51,703.81. The Nifty 50 index lost 104.55 points or 0.68% at 15,208.90.
Nestle India reported 2.26% rise in standalone net profit to Rs 483.31 crore on 9.16% rise in net sales to Rs 3,417.52 crore in Q4 December 2020 over Q4 December 2019. Nestle India said the board of directors recommended final dividend for the year 2020 of Rs 65.
Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, the Business Process Management arm of Infosys, announced the strategic purchase of a state-of-the-art New Business and Underwriting platform from STEP Solutions Group LLC to ease the complexity of all types of insurance products such as Life, Annuity, and Health, for individuals and groups across North America.
Adani Ports and Special Economic Zone (APSEZ) completed the acquisition of 100% stake of Dighi Port (DPL) for Rs 705 crore on 15 February 2021. APSEZ plans to invest over INR 10,000 Cr to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail & road evacuation infrastructure for seamle
Adani Ports and Special Economic Zone (APSEZ) rose 1.59% to Rs 637.80 after the company said it completed the acquisition of Maharashtra-based Dighi Port.
The company said that in accordance with the approved Resolution Plan, Dighi Port ( Dighi ) has allotted 10 lakh equity shares for cash at total consideration of Rs 1 crore to APSEZ on 15 February 2021. Pursuant to this, APSEZ will hold 100% equity share capital of Dighi.
Further, APSEZ has paid Rs 650 crore to financial creditors and approximately Rs 55 crore towards CIRP cost and other payments.
Incorporated on 27 July 2000, Dighi is located on the banks of Rajapuri Creek in the Raigad district of Maharashtra. It is a minor port established under the 50-year concession from the MMB starting March 2002. Concession permits the handling of all types of cargo including liquid & containers.