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Adani's APSEZ Eyes Port Development in Philippines
Adani Ports and Special Economic Zone (APSEZ), a subsidiary of Adani Group, is reportedly considering a foray into port development in the Philippines. This potential venture underscores APSEZ's strategic expansion efforts beyond India's borders and its ambition to establish a global presence in the maritime industry.
The exploration of port development in the Philippines represents a significant opportunity for APSEZ to leverage its expertise and experience in port operations and management. The venture aligns with the company's vision of becoming a leading player in the global logist..
Adani Enterprises' Q4 profit drops 38% due to roads segment
Adani Enterprises of India reported a nearly 38% decline in profit, citing weak performance in its roads segment and increased expenses.
According to an exchange filing by the flagship company of the Adani group, consolidated net profit decreased to Rs 4.51 billion for the quarter ended March 31, down from 7.22 billion rupees the previous year.
The conglomerate noted an 84% drop in pre-tax profit in its road infrastructure segment. Additionally, its commercial mining segment recorded a pre-tax loss of 2.01 billion rupees, in contrast to a profit of Rs 2.31 billion previously...
SEBI issues Show Cause to six Adani firms
Several Adani group companies have reportedly received show cause notices from the Securities and Exchange Board of India (SEBI) for alleged violations of related party transactions and non-compliance with listing regulations, as stated in filings to the stock exchange by the companies. In notes accompanying their respective financial results for the March quarter and FY24, the group's flagship Adani Enterprises, Adani Ports & Special Economic Zone, Adani Power, Adani Energy Solutions, Adani Total Gas, and commodities firm Adani Wilmar disclosed information regarding the SEBI notice.
A..
Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations
Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.
Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..
Jaishankar Highlights Mumbai-Ahmedabad Bullet Train Benefits
india's vision of a modern and interconnected transportation network. Foreign Minister S Jaishankar has emphasised the significant benefits of the Mumbai-Ahmedabad bullet train project, citing its potential to revolutionise transportation and boost economic growth. Speaking on the project, Jaishankar highlighted its role in enhancing connectivity, fostering economic development, and strengthening bilateral ties with Japan.
The Mumbai-Ahmedabad bullet train project, a flagship infrastructure initiative between India and Japan, aims to reduce travel time between the two cities from hour..
