Page 3 - Adani Ports And Special Economic Zone
NCLAT upholds Adani Ports & Special Economic Zone's takeover of Dighi Port
The National Company Law Appellate Tribunal (NCLAT) has upheld the Adani Group firm - Adani Ports & Special Economic Zone's take-over plan of the debt-ridden Dighi Port. A three-member NCLAT bench dismissed the plea filed by promoter Vishal Vijay Kalantri challenging the order passed by the Mumbai bench of National Company Law Tribunal (NCLT), which had approved the Rs 650-crore resolution plan by Adani Ports & Special Economic Zone (APSEZ) on March 5. The appellate tribunal rejected Kalantri's submissions contending that NCLT has failed to consider objections raised by it over the resolution plan submitted by APSEZ and rejected the settlement proposal submitted by his company Balaji Infra Projects Ltd (BIPL). "All objections raised qua the action of the 'Resolution Professional' during Corporate Insolvency Resolution Process (CIRP), approval of 'Resolution Plan' of 'APSEZ' by the Committee of Creditors and its subsequent approval by the Adjudicating Authority being unfounded .
 "NCLAT upholds Adani Ports & Special Economic Zone's takeover of Dighi Port")
Adani Ports to raise $1.25 bn through dollar bonds to pay existing debt
They will be issued in one or more tranches overseas and listed in any one or more stock exchanges in India or overseas, the company said in a statement
 "Adani Ports to raise $1.25 bn through dollar bonds to pay existing debt")
Adani Ports raises Rs 125 crore through non-convertible debentures
Adani Ports arm has raised Rs 125 crore today by allotment of 1,250 rated, listed, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each
 "Adani Ports raises Rs 125 crore through non-convertible debentures")
Norway's sovereign wealth fund raises bets on corporate bonds in India
The fund has added two new names - Adani Ports & Special Economic Zone and Britannia Industries - show the fund's latest disclosures
 "Norway's sovereign wealth fund raises bets on corporate bonds in India")
Adani Ports to acquire 75% stake in Krishnapatnam Port for Rs 13,572 cr
Company could now set eyes on NCLT-listed Dighi Port, say analysts
 "Adani Ports to acquire 75% stake in Krishnapatnam Port for Rs 13,572 cr")
Brokerages bullish on Adani Ports post acquisition of Snowman Logistics
The sale to ADSEZ is part of Gateway's plan to divest its non-core assets, deleverage its balance sheet, and fund future capital expenditure plans in the rail segment.
 "Brokerages bullish on Adani Ports post acquisition of Snowman Logistics")
New World Fund sells over 10 mn shares in Adani Ports worth Rs 401 cr
As per September 2019 shareholding data, New World Fund Inc was a public shareholder of Adani Ports and held 2.07 per cent stake
 "New World Fund sells over 10 mn shares in Adani Ports worth Rs 401 cr")
Adani Ports banks on growth containers, gas to double volume; stock up 5.3%
Delay in freight corridor, muted near-term volumes, and a weak rupee are worries
 "Adani Ports banks on growth containers, gas to double volume; stock up 5.3%")
Adani Ports surges 6% on announcement of buyback schedule
The proposed Rs 1,960 crore share buyback offer will open on September 6, 2019 and close on September 20.
 "Adani Ports surges 6% on announcement of buyback schedule")
Adani Ports up 3% on post Q4 results
The stock was trading 2.6% higher at Rs 407, the top gainer among S&P BSE Sensex at 01:50 pm.
 "Adani Ports up 3% on post Q4 results")
Adani Ports eyes 20% container cargo growth in FY18
Growth to be driven by capacity addition at Mundra; 25% and 35% growth at Hazira and Kattupalli
 "Adani Ports eyes 20% container cargo growth in FY18")
Rating agency Moody's revises Adani Ports outlook to stable from negative
Global ratings agency Moody's Investors Service revised up its outlook on Adani Ports and SEZ (APSEZ) to stable from negative today on stabilisation in operative performance and dip in leverage. The action by Moody's comes four days after a similar call by Standard and Poor's. Moody's has affirmed the issuer and senior unsecured ratings at Baa3 for the company. "The change in APSEZ's ratings outlook to stable reflects the stabilisation in the company's operating performance and a decline in its financial leverage," Moody's vice president Abhishek Tyagi said. The negative outlook was driven by weakened operating performance and financial metrics, he said, adding APSEZ has taken a slew of initiatives to improve on the same. Just like the commentary from S&P, related party loans also found a mention in the Moody's statement today with the agency saying there has been a "material reduction" in lending which was "clouding" the credit profile previously. Fitch Ratings, which also .
 "Rating agency Moody's revises Adani Ports outlook to stable from negative")
Crisil names Adani Ports & SEZ as non-cooperative issuer
Company failed to provide information for rating process
Adani Ports gains on stable outlook for NCD issue
India Ratings has assigned 'IND AA+' rating with a stable outlook
 "Adani Ports gains on stable outlook for NCD issue")
Adani Ports dips over 10% post Q4 results
The stock dipped 11% to Rs 210, its sharpest fall since August 24, 2015 on the BSE in intra-day on back of heavy volumes.
 "Adani Ports dips over 10% post Q4 results")
