Adani ports shares hit record high as cargo volumes surge
Adani ports share price rose by over 1 per cent to Rs 1,356.50 per share on the Bombay Stock Exchange (BSE) in early trade. Key Points
India TodayIndia introduces SOPs for approving new ports to ensure controlled growth in maritime sector
India is drafting stringent standard operating protocols (SOPs) for the approval of new ports, aiming to regulate the growth of the maritime sector. The emphasis will be on fully utilizing the capacity of existing ports before approving new ones. These SOPs aim to ensure structured growth of Indian ports and safeguard investments made in setting them up. Key Points
Economic TimesWorld recognising India's potential in global trade: PM Modi
Prime Minister Narendra Modi highlighted his government's efforts to enhance India's infrastructure and maritime capabilities during the inauguration of three projects in Kochi, collectively valued at over ₹4,000 crore. The projects include the New Dry Dock and International Ship Repair Facility at Cochin Shipyard Limited, along with the LPG Import Terminal of Indian Oil Corporation Limited. Key Points
Economic TimesIndian ports log double-digit growth in 10 years, PM Modi says, pledging to build mega ones
Indian ports have achieved double-digit growth in the past 10 years, beating developed nations in ship turnaround time, PM Modi said while inaugurating infrastructure projects in Kochi. Projects included new dry dock, ship repair facility, and LPG Import Terminal. Key Points
Economic TimesIsrael-Hamas war impact? Adani ports share price down over 6% in October so far
On a monthly scale, Adani ports share price is down over 6 per cent in October so far. The stock has been in the green since March this year on a monthly basis and if it ends in the red in October, it will have broken its seven-month winning streak. Key Points
mint
Checking predatory pricing for port tariffs need of hour
The ports, shipping, and waterways ministry in India has proposed restrictions on port tariffs to prevent predatory pricing by public-private-partnership (PPP) ports. The proposal suggests that port tariffs should not be less than the operating cost per tonne of the asset. This could have implications for private sector port operators in the country. The ministry aims to implement regulatory caps within the next two years to address the issue of predatory pricing and restrict mergers and acquisitions that result in a dominant position in the maritime sector. The Competition Commission of India will oversee any deals that breach competition laws. Key Points
Economic TimesMaritime sector sets sights on Rs 80 lakh cr investment by 2047, document released by PM Modi shows
Prime Minister Narendra Modi has highlighted the potential of the India-Middle East-Europe Economic Corridor (IMEEC) to revolutionize global maritime trade. He invited investors to participate in the initiative as India aims to attract investments worth ₹75-80 lakh crore in its maritime sector by 2047. Key Points
Economic TimesGautam Adani's new mega port can lure world's biggest ships to India
Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India that will be inaugurated on Oct. 15 — will allow India to grab a bigger slice of the international maritime trade currently dominated by China. It will also bolster its aspirations to be an alternative manufacturing hub by reducing logistics costs for cargo coming to and from the country. Key Points
Economic TimesAdani ports share price rises 3% as brokerages expect up to 28% upside potential
Adani ports Israel: Adani ports stock rebounds after concerns about Israel conflict. Analysts say impact of Israel conflict on Adani ports will be minimal. Brokerages give positive outlook on Adani ports despite Israel conflict. Key Points
mintAdani Ports’ cargo volume touches lifetime high of 202.6 MMT in H1 FY24, shares rise
Adani Ports’ total cargo for the first half of the 2023-24 fiscal reached 202.6 million metric tonnes (MMT), crossing the 200 MMT milestone in the initial six months of the year, according to the filing. Key Points
Business Today
Significantly lower port turnaround time will attract global shipping lines: Sarbananda Sonowal, minister
Sarbananda Sonowal said that the vision of making India a developed and self-dependent country by 2047 is a priority which Prime Minister Narendra Modi has emphasised. If large projects such as Bharatmala and Sagarmala were not visualised, India would not have progressed at the pace it did. Kartavya Kal, the next 25 years till 2047, will see improvement in connectivity and communication, he added. Key Points
Economic TimesAdani ports Share Price Live blog for 28 Jun 2023
Adani ports stock price went down today, 28 Jun 2023, by -0.68 %. The stock closed at 724.55 per share. The stock is currently trading at 719.65 per share. Investors should monitor Adani ports stock price closely in the coming days and weeks to see how it reacts to the news. Key Points
MintAdani ports share price tanks over 1% despite 5% jump in Q4 net profit; Should you buy, sell, hold Adani Ports?
Adani ports stock has surged 6.6% in the past one month and has fallen over 17% in the last 6 months. The company’s board declared a dividend of Rs 5 (250%) per equity share for FY23. Key Points
FinancialexpressBangladesh gives India permanent access to Chattogram, Mongla ports
Cargoes can be transported from Chattogram and Mongla ports to Agartala in Tripura via Akhaura, Dawki in Meghalaya via Tamabil, Sutarkandi in Assam via Sheola and Srimantapur in West Bengal via Bibir Bazar. The same routes can be used to transport commodities from the northeastern states to the two ports, officials from Dhaka told ET. Key Points
Economic TimesTruckers may get clean energy sops
Major ports come under the administrative control of the shipping ministry, while the remaining ports (called non-major) come under the state governments and their maritime boards. Key interventions include prompting use of renewable energy, reducing air emissions, optimising water usage, improving solid waste management and lowering carbon emission per tonne of cargo handled by 30% by 2030, and 70% by 2047, the official quoted above said. Key Points
Economic Times
India and China Snapping up Majority of Russian Oil Above Western Price Cap
India and China are reportedly buying the majority of Russian oil in April at prices above the Western price cap of $60 per barrel, according to Reuters. This has helped the Kremlin earn stronger revenues despite Western attempts to reduce funds for Russia’s military operations in Ukraine. India accounts for over 70% of seaborne supplies of the grade so far this month, while China accounts for about 20%. Meanwhile, lower freight rates and smaller discounts for Urals against global benchmarks have nudged the daily price of the grade back above the cap earlier in April. Keywords: Russia, oil, India, China, Western price cap. Key Points
The HinduGovt says 70 projects worth Rs 2,856 cr sanctioned under Sagarmala Programme
In a written reply to the Lok Sabha, Union Ports, Shipping and Waterways minister Sarbananda Sonowal said various initiatives and projects have been undertaken to facilitate shifting of cargo from conventional land-based transportation to coastal shipping mode. A discount of 40 per cent is offered by major ports on vessel and cargo related charges to coastal cargo vessels, Sonowal added. Key Points
Economic TimesGautam Adani adds another piece to his string-of-pearls strategy
Adani ports strengthens its dominance with the acquisition of Gopalpur Port, projecting significant growth in cargo handling and revenue. The company's strategic expansion along the Indian coast and international ambitions position it to rival China's maritime presence in the region. Key Points
Economic TimesAdani closing in to buy Shapoorji Pallonji Group's Gopalpur ports in Orissa
SP Group owns 56% of the all-weather deep-draft port. Due diligence underway; Upto Rs 1200 cr equity valuation likely. Port also has long-term bank facilities of Rs 1,432 crore, as on Feb 23. Proceeds from asset sale will go toward repaying debenture holders . Key Points
Economic Timesports expected to overcome headwinds with 4-5% volume growth in FY24: Ind-Ra
During FY23, India’s merchandise exports recorded a notable growth of 6.9% year-on-year, amounting to $451 billion. However, total export volumes fell 13% year-on-year, reaching 16.1 billion tonne. The signs of slowdown in the EU and US economies mirror the deceleration in their foreign trade with India Key Points
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Shipping, allied industries battle choppy waters as margins sink
As things stand, freight rates in key transit routes have declined over the past 3-4 months to as much as just a quarter of what they averaged a couple of years ago due to lower consumption in western markets amid global economic headwinds. With that, containers have piled up at Indian ports, resulting in a reversal of the situation from just a year ago when shippers were running from pillar to post to get their hands on empty containers. Key Points
Economic TimesIndia's Adani ports to raise $600 mln via non-convertible debentures
India's largest private port operator Adani ports and Special Economic Zone (APSE.NS) said on Tuesday it will raise 50 billion rupees ($599.8 million) by issuing non-convertible debentures and 2.5 billion rupees through non-cumulative redeemable preference shares. Key Points
ReutersAdani ports ends FY23 with 9 pc growth, largest port cargo volume ever
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. Key Points
Economic TimesIndia's Adani ports Q2 profit rises 4% as expenses curtail volume surge impact
India's largest private port operator Adani ports and Special Economic Zone (APSE.NS) on Thursday reported a miniscule 4.2% rise in second-quarter profit as higher expenses and tax curtailed the impact of a jump in cargo volumes. Key Points
ReutersFrom ports to airports, PM Modi 'controls' everything: Congress chief Kharge in Rajasthan
Perhaps the prime minister is also touring this area. Wherever we intend to go, we do not get permission to fly. This means everything is under his control. Air, land, ports and airports, all are under his control. He is working towards making people slaves, the Congress president said, without elaborating. Key Points
Economic Times
Adani ports records largest port cargo volume with almost 339 MMT in FY23
In a statement, the Adani Group entity said that it handled ~32 MMT of total cargo in March 2023 and this is the first time since July 2022 that the volumes crossed the 30 MMT mark. Adani ports has been continuously increasing its market share for the past few years. Key Points
FinancialexpressMajor ports embrace transformation to 'landlord ports' in pursuit of efficiency and growth
Major ports in India, including Visakhapatnam port, are transitioning to a landlord port model, where private players take over the operational aspects of the business while the ports act as regulators and landlords. This shift towards public-private partnerships is aimed at increasing efficiency and reducing costs. Currently, six private companies control eight out of 29 berths at Visakhapatnam port, contributing 60% of the total throughput. Key Points
Economic TimesInvestors need not be jittery; PM Modi coming back with good majority: Nirmala Sitharaman
The IMEC will connect Indian ports such as the Jawaharlal Nehru Port Authority, Mundra (Gujarat), and Kandla (Gujarat), with West Asian ones such as Fujairah, Jebel Ali, and Abu Dhabi in the UAE, and Saudi Arabian ports of Dammam, Ras Al Khair, and Ghuwaifat. Then there is a rail segment that will continue the IMEC and provide connection to the Saudi Arabian cities of Haradh and Al Haditha, onward to the port of Haifa in Israel. Key Points
Economic TimesCompetition Commission clears JM Baxi Ports-HAL deal
Competition Commission of India (CCI) said it has given the approval for the acquisition of shareholding of JM Baxi ports HL Terminal Holding B.V. Key Points
FinancialexpressBillionaires Ambani and Adani plan to build 25gw of clean energy in Andhra Pradesh
Reliance Industries Ltd. will build 10 gigawatts of solar power in the state, Ambani, Asias richest person, said at an investors gathering Friday organized by the state. Karan Adani, chief executive officer of Adani ports & Special Economic Zone Ltd., said his group is committed to constructing 15 gigawatts of renewables capacity across five districts over the next few years. Key Points
Economic Times
40-inch LED TV at affordable prices: Explore top 8 options for perfect viewing
Looking for a 40-inch LED TV? Check out our top 8 recommendations with numerous features and a lower price tag. Choose from multiple brands and bring home a new watching companion. Key Points
mintAdani ports gets a rating upgrade from ICRA
The company's upgrade follows a Bloomberg report that revealed plans to significantly increase investment in its southern India trans-shipment container port to Rs 100 billion. This ambitious move aims to attract some of the world's largest ships, according to sources familiar with the matter. Key Points
Economic TimesScope for more collaboration with Europe: Ports, Shipping and Waterways Secretary
India's maritime sector has significant growth potential, and there's room for increased collaboration with Europe, said TK Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways. Speaking at the 2nd CII India Europe Business and Sustainability Conclave, he highlighted the India-Middle-East-Europe Connectivity Corridor's potential and opportunities for collaboration in shipbuilding and green ports. Key Points
Economic TimesIndia's Adani ports says Q1 profit nearly doubles on higher volumes, tariffs
Adani ports and Special Economic Zone (APSE.NS), India's largest private port operator, reported an 82.6% surge in first-quarter profit on Tuesday, helped by a jump in cargo volumes and as higher tariffs boost margins. Key Points
ReutersFive key charts to watch in global commodity markets this week
Gasoline consumption in the US continues to increase as the summer driving season gets underway. Elsewhere, stockpiles of thermal coal at Chinese ports are on the rise, while surging copper inventories signal a softening market. Here are five charts to consider in global commodities this week. Key Points
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Adani to invest USD 14 bn in FY25
Adani group plans to invest more than Rs 1.2 lakh crore (about USD 14 billion) across its portfolio companies that range from ports to energy, airports, commodities, cement and media in fiscal year starting April 1, as it doubles down on its USD 100 billion investment guidance over the next 7-10 years to grow businesses, sources said. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 per cent higher than what the portfolio is estimated to have incurred in FY24. Key Points
Economic TimesGQG Partners raises its stake in Adani ports to 5.03%
The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research's critical report on the Adani group that was published in January. Key Points
Economic TimesS&P Global Ratings upgrades Adani Ports, Adani Electricity on cash flow optimism
S&P has revises outlook for Adani ports and Adani Electricity to stable from negative, citing strong cash flow in the next 12 to 24 months. Adani Ports' ability to pay off liabilities is expected to be in the range of 3x to 4x over the next two years.. The rating agency said conclusion of most investigations without evidence of wrongdoing has reduced downside risk. Key Points
Economic TimesAdani ports Q1 results: Profit surges 83 pc at Rs 2,114.72 crore
Mumbai (Maharashtra) [India], August 9 (ANI): Adani ports and Special Economic Zone Ltd., a Adani group firm, on Tuesday reported a consolidated net profit of Rs 2,114.72 crore for the quarter ended June 2023, which is 83 per cent higher compared with Rs 1,158.28 crore in the same quarter last year. Revenue from operations rose […] Key Points
ThePrintMutual funds, LIC cut stake in Adani ports during March quarter
Combined stake of MFs stood at 3.09% at the end of March quarter, compared with 4.43% as of December 2022. FPIs' holdings increases to 17.98% as of March quarter against 13.77% at the end of December quarter Key Points
Economic Times