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
APSEZ will spend another Rs 850 cr over time to upgrade infrastructure and reduce the logistics cost for customers
Most Adani group stocks recovered some lost ground on Wednesday after a heavy sell-off a day earlier amid reports of the group's ability to service the debt levels.
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
The combined market-capitalisation (market-cap) of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public
Adani Group said it has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before committed timeline of 31 March 2023
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.
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.
The promoters plan to use the proceeds to retire debt and for other purposes.
Adani Enterprises, the Group flagship company, saw around 38.96 million equity shares (3.4 per cent of total equity) worth of around Rs 5,487 crore change hands on the BSE this morning.
Since January 24, the market value of 5 Adani group companies - Adani Total Gas, Adani Green Energy, Adani Transmission, Adani Power and Adani Enterprises - has declined between 52% and 83%
Adani Power (Rs 162.60), Adani Transmission (Rs 788.75), Adani Total Gas (Rs 834.95), Adani Green Energy (Rs 539.30) and Adani Wilmar (Rs 390.35) were locked at 5 per cent lower circuit today
"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.
Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.
The Central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected.
Shares of eight of the 10 group firms closed in the red, while two companies settled in the green territory on Friday
Adani Ports and Special Economic Zone, Adani Wilmar, ACC, Ambuja Cements and New Delhi Television (NDTV) are down in the range of 1 per cent to 5 per cent.
Adani Enterprises locked 10 per cent lower circuit, while Adani Ports, Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Ambuja Cements were down up to 6 per cent