Page 13 - Adani Ports

Adani Ports names Ex-Air Asia chief Mittu Chandilya as CEO, logistics biz

Adani Ports & Special Economic Zone Ltd (APSEZ), the country's larget private port developer, today announced appointment of Mrithyunjay Chandilya as chief executive officer (CEO) its logistics business.Mrithyunjay Chandilya, who has served as the CEO of AirAsia India, comes with global exposure and a strong experience of working in leadership positions in multinational and consulting organizations, said Adani in its release. "We welcome Mrithyunjay Chandilya to the Adani Group. Our country has laid strong emphasis on manufacturing and initiatives such as "Make in India" are boosting domestic production, which in turn is bolstering the logistics industry. Logistics is the backbone of our economy, providing efficient and cost effective flow of goods on which other commercial sectors depend. As a group we aim to build our identity around an integrated logistics business model, we are not going to be known as just a port company but more as a logistics company led by our ports ...

Adani Ports refines strategy as coal imports dip

India's seaborne coal imports dropped in first 7 months of the year by 13.4% to 105.36 mt

Adani Ports in fray to pick up stake in Dredging Corp

Govt is planning to sell 51% stake in the mini-ratna PSU

Why Dredging Corporation deal makes sense for Adani Ports

Deal might be a strategic fit, as Adani now has the largest capital dredging capacity in the country

Adani Ports: Improving balance sheet offers comfort

Reduction in borrowing, expanding share of non-coal products and non-Mundra ports are positives

Fitch rates Adani Ports' proposed USD notes as BBB-(EXP)

APSEZ owns and operates 10 ports across the Indian coastline

Adani Ports, Motherson Sumi, J&K Bank, VA Tech Wabag hit 52-week high

24 stocks from the S&P BSE 500 index hit their respective 52-week highs on BSE.

S&P ups outlook on Adani Ports to stable from negative

Global ratings agency Standard and Poor's (S&P) today revised up the outlook on Adani Ports to 'stable' from 'negative' on expectation of better operating performance and limiting related-party lending. "Our stable outlook reflects our expectation that Adani Ports & SEZ will maintain consistent operating performance and leverage, and limit related-party transactions over the next 12-24 months," the agency said in a note. The agency, however, affirmed its rating on the company at 'BBB-' as it expects the company, which runs the largest private sector operator port in Mundra in Gujarat, will sustain its improved operating performance supported by healthy revenue growth and strong pre-tax margins at 63-65 per cent levels. The company should also commit to maintain the funds from operations to debt ratio at 15-20 per cent, it added. "We also understand that the management is committed to prevent a recurrence of incidences such as a sharp increase in related-party loans in ...

Adani Ports Q4 net profit up 27% to Rs 1,179 crore

Shares of the company ended 2.41% up at Rs 340.05 on BSE

Adani Port rally: A good time for investors to cash in

With a year-to-date gain of nearly 33 per cent, Adani Ports' stock has convincingly entered the list of large-cap winners in 2017. Many factors have led to this rally, the most significant one being the closure of inter-corporate loans and advances. While announcing the September 2016 quarter's results, the management promised its investors that loans extended to group companies, worth Rs 3,500 crore, would be fully repaid by the end of the financial year (end-March). The announcement on April 4 showed this had been done. Analysts view this development very positively, as a demonstration of the management's commitment. Group stocks such as Adani Enterprise, Adani Power and Adani Transmission also recently touched their 52-week highs, as a ripple effect of closure on inter-corporate borrowings. Also interesting is that Adani Ports' stock price movement mirrors the 30 per cent year-to-date increase in the Baltic Dry Index, the global measure of change in the cost to ship various raw ...

Adani Ports Q3 net profit jumps 26% to Rs 850 cr

Company said it handled 41 mt cargo during the quarter, up 8% from corresponding quarter last year

Adani Ports to develop 3rd phase of Mundra Port for Rs 6,000cr

It is touted as one of the top multi-purpose ports in the country in terms of traffic

Adani Ports to raise $500 mn via foreign currency bonds

Earlier this week, APSEZ had said it is contemplating issuing foreign currency denominated bonds

Adani Ports: Sailing beyond Mundra

Capex on newly acquired ports & expansion on eastern coastline strengthen its strategy

Ports, shipping shares gain as Cabinet approves bill to empower major ports

Adani Ports, Gujarat Pipavav, SCI, GE Shipping, Allcargo Logistics and Essar Shipping were up 2% to 10% on BSE

Adani Ports to deleverage further: Fitch Ratings

APSEZ is looking to deleverage further on the back of higher income, loan recoveries and capital expenditure

Adani Ports' standalone net profit dips by 13.48% in Q2FY17

The company's net income for the same period has declined by 16.52 per cent to Rs 1,301.87 crore as against Rs 1,559.67 crore

Adani Ports soars as Q2 profit beats forecast

The stock surged 9% to Rs 312 after the company reported 61% YoY jump in profit at Rs 1,091 crore in Q2FY17.

Adani Ports surges on heavy volumes

The stock up 5% to Rs 286 after the company announced a fund raising plan by issuing NCDs on private placement basis.

Adani Ports gains as RBI raises FII limit to 49%

The stock moved higher by 4% to Rs 267 on the NSE.