APSEZ News

The stock was the worst hit among the blue chips on both the key indices during the morning trade.

Of the Rs 1,950 crore, Adani Ports and Special Economic Zone Limited (APSEZ) will be paying Rs 1,562 crore towards settlement of dues of MIDPL.

Adani Ports and Larsen & Toubro (L&T) on Saturday said they have inked a pact to oversee operations of Kattupalli Port in Tamil Nadu.

Three Adani Group firms -- Adani Power, Adani Enterprises and APSEZ -- have received approval of shareholders to raise up to Rs 26,000 crore to expand business operations and manage capital expenditure.

Country's largest port developer and part of billionaire Gautam Adani-led Adani Group, is in talks with the promoters of Gangavaram port in Andhra Pradesh as well as Karaikal & Larsen & Toubro's Kattupalli ports in Tamil Nadu, a person in know of the developments said.

To reduce its debt cost, Adani Ports and Special Economic Zone Ltd (APSEZ) plans to raise Rs 15,000 crore through overseas bonds to refinance existing foreign loans and fund capital expenditure.

Billionaire Gautam Adani-led Adani Group on Monday announced a Rs 20,000-crore investment for expanding the capacity of its Gujarat ports to 100 million tonnes per annum by 2020.

The company's net profit in the corresponding period of the last fiscal stood at Rs 341.83 crore, APSEZ said in a filing to the BSE.

Adani has made a 3.5 km-long and 50-feet-deep 'kaccha' canal under the sea to get water for its power plant project in APSEZ, the PIL alleged.

The company's net profit in the corresponding quarter of the last fiscal was Rs 417.50 crore, Adani Ports and Special Economic Zone said.

Special Economic Zones have been promoted from the point of view of attracting FDI as well as to promote export led growth.

Adani Ports is country's largest port operator with its flagship Mundra Port in Gujarat being the largest commercial port in India.