Adani Ports assigned ‘AAA’ credit rating by CARE
CARE has assigned ‘AAA’ ratings with stable outlook to Adani Port’s long and short term bank facilities and its NCDs.
CARE has assigned ‘AAA’ ratings with stable outlook to Adani Port’s long and short term bank facilities and its NCDs.
The country's largest private port operator handled 35.4 MMT (million metric tonne) of total cargo, implying a healthy 33% YoY growth.
India's largest private ports operator handled 35.65 MMT of cargo volumes in December 2023.
Shares of Adani Ports hit an intraday low of ₹793, taking the port operators' market cap to ₹1.71 lakh crore.
The Adani group company's revenue from operations increased 24% year-on-year ₹6,248 crore from ₹5,058 crore in the year-ago period
Deloitte, the auditor of APSEZ, raised concerns over Adani Ports' transactions with three entities, which the company said were unrelated parties.
The purpose of the tender offer is to partly prepay Adani Ports' near-term debt maturities and to convey the comfortable liquidity position of the company.
APSEZ has acquired 49.38% stake in Indian Oiltanking and an additional 10% stake in one of its subsidiaries, IOT Utkal.