Key Points
Ratings agency ICRA has upgraded the rating of Adani Ports and Special Economic Zone (APSEZ) to AAA/Stable from AA+/Stable..
APSEZ announced the development after market hours and the Adani Ports shares on Thursday ended at Rs 1,491.95 on the NSE, down by Rs 7.10 or 0.47%...
The upgrade comes on the back of a Bloomberg news report, which said the company planned to ramp up its investment to Rs 100 billion ($1.2 billion) to boost its southern India trans-shipment container port..
The investment in the first-of-its-kind Vizhinjam port in Kerala is part of the second phase of the project that is expected to finish by 2028, the report said, quoting people familiar with the Adani Groups plans who did not want to be identified as the details are not announced...
Adani Ports reported a 77% year-on-year (YoY) jump in its consolidated net profit to Rs 2,014.77 crore..
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