India's Adani Ports to consider buyback of debt securities
Adani Ports earns AAA rating
Adani Ports and Special Economic Zone (APSEZ) announced that it had attained an AAA rating from CARE Ratings. According to APSEZ, this marks the first instance of a large-sized private infrastructure developer receiving such acknowledgment.
In a statement, APSEZ mentioned that the rating was attributed mainly to its robust integrated business model, strong industry position, consistent market share growth with healthy profitability, along with high liquidity and low leverage, as stated by the agency.
For the fiscal year FY24, APSEZ reported handling a cargo volume of 419.95 MMT..
Karan Adani: Lucknow Airport T3 phase 1 to create 13,000 jobs
The inauguration of Integrated T3 at the Chaudhary Charan Singh International Airport (CCSIA) in Lucknow was conducted by Prime Minister Narendra Modi on March 10. According to PTI, Adani Airport Holdings stated that the construction cost amounted to Rs 24 billion and it has the capacity to accommodate 4,000 passengers during peak hours, catering to both domestic and international flights.
Karan Adani, the Managing Director of Adani Ports and Special Economic Zone, informed NDTV that Phase 1 of the Lucknow Airport Terminal 3 (T3) project is expected to generate employment for 13,000 in..
APSEZ eyes 400 MMT cargo volume in FY24
Adani Ports and Special Economic Zone (APSEZ) reported a remarkable 42 per cent year-on-year increase in cargo volumes for December 2023, handling 35.65 million metric tonne (MMT). This surge is primarily driven by a 63 per cent increase in dry bulk cargo and a 28 per cent rise in container handling compared to the same period last year.
For the quarter ending December, APSEZ's total cargo handling stood at approximately 109 MMT, with domestic ports contributing around 106 MMT. The first nine months of the financial year 2024 saw the company managing around 311 MMT of total cargo, mark..
Nalanda Capital Sells Stake in Great Eastern Shipping
Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.
The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..
Chabahar unveils India's infrastructure strategy
The centrepiece of the Narendra Modi government's agenda is the construction of an extensive network of roads, highways, tunnels, bridges, airports, metros, and high-speed trains. However, one crucial aspect of Modi's ambitious infrastructure overhaul remains hidden from the view of voters.
Last week, The Economist pointed out that while most Indians may not directly engage with certain sectors, such as ports, these areas undergo significant transformations that impact their lives. The magazine noted substantial enhancements in the capacity and efficiency of ports, illustrating a deep..