The central government has allowed the Adani Group-owned port at Krishnapatnam in Andhra Pradesh to import petroleum into India by sea in public interest.
"The ability to scale and grow using internal cash flows in the case of Adani Ports gives us strong comfort on the intrinsic equity value of such a business, which in turn reduces the scope for credit stress" says JP Morgan report.
The credit rating of Gopalpur Ports Limited (GPL) has been upgraded to CARE AA; Stable by Care Edge Ratings following its acquisition by Adani Ports and Special Economic Zone Limited (APSEZ).
The Kerala government has extended its agreement with Adani Vizhinjam Port for an additional five years, with a revised deadline for the commissioning of the port by December.
Adani Ports and SEZ CEO Ashwani Gupta on Tuesday informed shareholders that it has delivered growth across the top line, bottom line and market share as they continued to strengthen value proposition as a transport utility company.
Earnings momentum continues for Adani Ports and SEZ, with the Adani Group company registering Profit After Tax or net profit at Rs 5,520 crore in the first half of 2024-25. The net profits were up 42 per cent year-on-year.
"Met with a delegation from the Adani Group led by the MD of Adani Exports Ltd., Rajesh Adani, and the MD of Adani Ports and SEZ Ltd, Karan Adani to discuss a range of investment opportunities in Andhra Pradesh," CM Naidu said.
Three Adani portfolio companies -- Adani Enterprises Ltd (AEL) (through its subsidiary Adani New Industries Ltd), Adani Ports and Special Economic Zone Ltd (APSEZ) and Ambuja Cements Ltd -- have joined the World Economic Forum's 'Transitioning Industrial Clusters' initiative, forming the Ada
Ashwani Gupta, Whole-time Director and CEO, APSEZ, "Berth No. 13 will diversify our presence at Deendayal Port. We will now handle multipurpose clean cargo at the port, in addition to dry bulk cargo that we already handle. The berth will further consolidate our position on the western coast
Adani Ports and Special Economic Zone (APSEZ) has entered into a definitive agreement to acquire 80 per cent stake in Astro Offshore, the Adani Group company said in a statement on Friday.
Adani Ports and Special Economic Zone on Thursday reported that its net profit or profit after tax jumped 47 per cent year-on-year during the April-June quarter to Rs 3,107 crore, its earnings results showed.