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Adani Ports to acquire 31.5% stake in Gangavaram Port

For consideration of Rs 1954 croreAdani Ports & Special Economic Zone is acquiring the 31.5% stake held by Windy Lakeside Investment (an affiliate of Warburg Pincus) in Gangavaram Port (GPL). The acquisition is valued at Rs.1,954 crore and subject to regulatory approvals.
GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the
second largest non major port in Andhra Pradesh with a 64 MMT capacity established
under concession from Government of Andhra Pradesh (GoAP) that extends till 2059.
It is an all weather, deep water, multi-purupose port capable of handling fully laden
super cape size vessels of upto 200,000 DWT. Currently, GPL operates 9 berths and

India , Vizag , Andhra-pradesh , Andhra-pradesh-go , Warburg-pincus , Adani-ports , Special-economic-zone , Windy-lakeside-investment , Gangavaram-port , Iron-ore , Capital-market

Adani Ports gains after handled cargo volume rises 8% YoY in Feb

Read more about Adani Ports gains after handled cargo volume rises 8% YoY in Feb on Business Standard. Adani Ports and Special Economic Zone (APSEZ) rose 1.31% to Rs 701.95 after the company said that it handled cargo volume of 21.12 MMT in February 2021, registering a growth of 8% on year-on-year (YoY) basis.

Krishnapatnam , Andhra-pradesh , India , Adani-group , Adani-ports , Special-economic-zone , Krishnapatnam-port , Capital-market , Adani-ports-amp-sez , Economy-of-india , Adani

Sensex trades below 50,000, Nifty holds 14,800

Read more about Sensex trades below 50,000, Nifty holds 14,800 on Business Standard. The benchmark indices were trading in a narrow range with small gains in afternoon trade. At 13:10 IST, the barometer index, the S&P BSE Sensex, rose 111.35 points or 0.22% at 49,961.19. The Nifty 50 index gained 64.05 points or 0.43% at

India , Krishnapatnam , Andhra-pradesh , Mahindra , Wipro , Tata-motors , Bajaj-auto , Power-grid-corporation-of-india , Ministry-of-health , Family-welfare , Hero-motorcorp , Power-grid-corporation

Adani Ports sees 8% growth in cargo volumes in Feb

Read more about Adani Ports sees 8% growth in cargo volumes in Feb on Business Standard. Similarly, till February 2021, APSEZ handled cargo of 221.26 MMT a growth of 8% onyear on year basis. This includes cargo volume of 16.57 MMT handled at Krishnapatnamport from the date of acquisition i.e. October, 2020

Krishnapatnam , Andhra-pradesh , India , Adani-ports , Special-economic-zone , Capital-market , Adani-group , Adani-ports-amp-sez , Nifty-50 , Krishnapatnam-port , Cargo

SGX Nifty points to flat opening; Covid-19, global market trends to dictate D-Street direction

SGX Nifty points to flat opening; Covid-19, global market trends to dictate D-Street direction
February 22, 2021
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Analysts say market will remain in consolidation mode; ‘expect domestic market to continue following global markets this week on lack of major domestic events’
Indian markets are expected to open flat on the first day of the week, as SGX Nifty points to a flat beginning even as Asia-Pacific markets are ruling firm in early trade on Monday. SGX Nifty is ruling at 15,025 against Nifty March futures Friday’s closing of 15,025 and February futures closing of 14,987, signalling flat opening for Nifty index.
Analysts expect the markets to remain in consolidation mode. Global cues and foreign fund flows will largely direct the market movement, they added. However, the key worry is rising Covid-19 cases in some States, especially Maharashtra, again, they added.

Australia , Taiwan , Japan , Jalpaiguri , West-bengal , India , Hong-kong , Grand-cayman , 00 , Cayman-islands , Kolkata , Turkey

Nestle India, Infosys, APSEZ, ICICI Bank in spotlight

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 seamless and efficient cargo movement.

Dighi , Bihar , India , United-states , France , Tamil-nadu , America , Thillais-analytical-solutions , Indusind-international-holdings , Indusind-bank , Solutions-group

Adani Ports plans investment of Rs 10,000 cr to develop Dighi Port

Adani Ports & Special Economic Zone completed the acquisition of 100% stake of Dighi Port (DPL) for Rs 705 crore on 15 February 2021.
DPL, the 12th port to join APSEZ's string of economic gateways across the eastern and
western coast of India would establish the company's footprint in Maharashtra, the
largest contributor to India's GDP. This would enable APSEZ to service customers in Maharashtra which includes the highly industrial areas and development in the Mumbai
& Pune regions.
APSEZ plans to invest over Rs 10,000 crore to develop the port into a multi-cargo port
with world class infrastructure as well as investing in the development of rail & road

Dighi , Bihar , India , Adani-ports , Special-economic-zone , Dighi-port , Resolution-plan , Maharashtra-maritime-board , Capital-market , Adani-group , Adani-ports-amp-sez

Adani Ports gains on completion of Dighi Port acquisition

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.

Dighi , Bihar , India , Mumbai , Maharashtra , Adani-group , National-company-law-tribunal , Adani-ports , Special-economic-zone , Maharashtra-based-dighi , Resolution-plan

Adani Ports Q3 PAT rises 16% to Rs 1576 cr

On a consolidated basis, Adani Ports & Special Economic Zone (APSEZ) posted a 16.23% increase in net profit to Rs 1576.53 crore on 11.59% rise in total income to Rs 4274.49 crore in Q3 FY21 over Q3 FY20.Total operating revenue grew by 12% to Rs 3,746 crore in Q3 FY21 from Rs 3,336 crore in Q3 FY20. Port revenue has increased by 35% and revenue from logistics business increased by 8% during the period under review. Consolidated operating EBITDA grew by 9% to Rs 2,488 crore in Q3 FY21 from Rs 2,287 crore in Q3 FY20.
Consolidated profit before tax rose by 15.71% to Rs 2012.5 crore in Q3 FY21 from Rs 1738.87 crore in Q3 FY20. Current tax expense jumped to Rs 394.87 crore in Q3 FY21 as against Rs 270.36 crore in Q3 FY20.

Krishnapatnam , Andhra-pradesh , India , Karan-adani , Adani-group , Adani-ports , Special-economic-zone , Krishnapatnam-port , Capital-market , Adani-ports-amp-sez , Economy-of-india , Adani

Ports, roads, steel: 5 companies step up investments as economy recovers

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