Adani Ports

The move to accelerate earnings growth is being pegged as a significant move amid the aftermath of the short-seller report by Hindenburg Research

Container rakes handled by the logistics arm of the company crossed 500,000 TEUs in the previous fiscal, showing a growth of 24 per cent

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9 per cent growth in cargo handling at seaports it operates for fiscal year ended March 31. At 339 million tonne, this is the largest port cargo ever, APSEZ said in a statement. The firm handled about 32 million tonne of total cargo in March, up 9.5 per cent year-on-year. This is the first time since July 2022 that the volumes crossed the 30-million tonne mark. "With 339 million tonne in FY23 (April 2022 to March 2023), APSEZ recorded its largest port cargo volumes ever, which is a good 9 per cent year-on-year growth," it said. "Adani Ports has been continuously increasing its market share for the past years, outperforming all of India's cargo volume growth." The nation's largest port operator, which operates six ports on the west coast and five on the east, continues to add ports to its portfolio. Earlier this week, it completed the acquisition of Karaikal Port. While 11 ports it

APSEZ will spend another Rs 850 cr over time to upgrade infrastructure and reduce the logistics cost for customers

Ron Malka, former envoy of Israel to India, has said that he has assumed charge as the Executive Chairman of the Haifa Port Company (HPC) owned by a consortium led by the ports-to-energy conglomerate Adani Group. A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel's Gadot Group won the tender in July last year to privatise the strategic Port of Haifa in Israel for USD 1.18 billion. "I'm honoured and privileged to take office today as Executive Chairman of the Haifa Port Company, on behalf of @AdaniOnline. The experience and expertise of Adani and Gadot, combined with the dedication of the port workers, will take Haifa Port to new heights of prosperity," Malka tweeted on Sunday. Malka served as the ambassador of Israel to India from 2018 to 2021. The Port of Haifa is the second largest port in Israel in terms of shipping containers and the biggest in shipping tourist cruise ships. The Adani Group officially took over the Israeli port in January this year at a .

Adani Group and French company TotalEnergies' newly built Rs 6,000 crore LNG import facility at Dhamra on the Odisha coast has received its first ever shipment of liquefied natural gas - a fuel that will be used to make steel, produce fertilizers and turned into CNG and cooking gas, helping change the landscape of Eastern India. Qatari ship 'Milaha Ras Laffan' docked at Dhamra Port on April 1 morning, bringing in 2.6 trillion British thermal units of natural gas in its frozen form (LNG) which will be used to commission the facility, officials said. Commissioning and testing operations will take up to 45 days and commercial operations are expected to start thereafter. The start of the 5 million tonne per annum LNG import terminal is crucial to Prime Minister Narendra Modi's plan to boost natural gas use in the country's energy mix to 15 per cent by 2030 from current 6.3 per cent. Dhamra is the only LNG import terminal in eastern India and only second on the entire east coast. The ..

The National Company Law Tribunal approved the plan for the Adani Group subsidiary to pay 14.85 billion rupees ($181 million) to financial creditors, the company said in a statement Saturday

The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares

Hindenburg report allegations have limited near term impact

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

Elara holds a 1.6 per cent stake in Adani Enterprises, 3.62 per cent in Adani Transmission and 1.62 per cent in Adani Total

Adani Ports, Hindalco among stocks with 100 per cent 'Buy' rating by analysts.

Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.

Adani Group: The repayment of the loan will release the pledge on shares of promoters in four Adani Group companies, Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission

So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.

Affirms ratings on long-term loans of both firms

The promoters plan to use the proceeds to retire debt and for other purposes.

"This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said in an email response

Adani Power was locked at the 5 per cent upper limit, and has rallied 21 per cent in last four days. Adani Green hit 5 per cent lower circuit, and has shed 70 per cent since the Hindenburg allegation.

Aditya Birla Sun Life Mutual Fund has also received the payment, A. Balasubramanian, managing director and chief executive, confirmed in an emailed response