MUNDRA PORT
Hot stocks: Brokerage view on Tata Motors, Bharti Hexacom, Bharti Airtel and Adani Ports
Brokerage firms BofA, Jefferies, and CLSA have issued ratings on Tata Motors, Bharti Hexacom, Bharti Airtel, and Adani Ports. BofA and Jefferies recommend buying Tata Motors and Bharti Hexacom respectively, while CLSA rates Adani Ports as outperform. Jefferies also maintains a buy rating on Bharti Airtel with an increased target price.
Hot Stocks: Brokerages on Nykaa, Zomato, Adani Ports and Cholamandalam Investment
Kotak Securities has downgraded Nykaa to "Sell" from "Add" and lowered the target price to Rs 190 from Rs 195. While Nykaa's portal excels in product discovery, Q-commerce portals are expanding their BPC product range. Nykaa needs to invest in faster delivery. Kotak Securities also reduced FY25-27 EBITDA estimates by 3-7% due to lower margins, leading to the downgrade amid a sharp stock price increase.
New liner service to connect Red Sea's Jeddah Port to India's Mundra, Nhava Sheva
Folk Maritime Services Company has launched a new liner service connecting Jeddah Islamic Port in the Red Sea to India's Mundra and Nhava Sheva ports. This 10-day service, starting in September, aims to strengthen trade ties between Saudi Arabia and India by facilitating the movement of consumer cargo and petrochemicals.
Gautam Adani: From college rejection to dreaming big. India's richest man reveals the golden lesson he learned from Mumbai
Gautam Adani, one of India's wealthiest individuals, recently gave a lecture at Jai Hind College in Mumbai, the same institution that rejected his application in the late 1970s. In his speech titled "Breaking Boundaries: The Power of Passion and Unconventional Paths to Success," Adani reflected on his journey from a diamond sorter to a top-tier entrepreneur, emphasizing the importance of daring to dream beyond boundaries and challenging the status quo.
PM Modi lays foundation stone for Vadhavan Port project worth over Rs 76,000
Prime Minister Narendra Modi laid the foundation stone for the Vadhavan Port project in Maharashtra, set to become one of India's largest deep-water ports. The port, costing Rs 76,220 crore, aims to boost India's maritime infrastructure, featuring container terminals, multipurpose berths, and excellent connectivity, enhancing trade and industrial development.
Global trade needs a China alternative; India needs better ports
India is upgrading ports to bolster its manufacturing and exports. Efforts include expanding the Jawaharlal Nehru Port and constructing a new deep-water port in Vadhvan. These enhancements aim to cut trade costs and speed up delivery times, appealing to global companies looking to diversify manufacturing away from China.
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Congress claims Gujarat govt helping Adani Ports 'secure monopoly', says JPC essential
The Congress has demanded a joint parliamentary committee to investigate the Adani issue, alleging the Gujarat government aided Adani Ports in gaining a monopoly over the state's port sector. They asserted that the illegal concession extension harms competition and state revenue, necessitating a thorough investigation.
Adani Ports Q1 Results: Cons PAT climbs 47% YoY to Rs 3,113 cr, revenue up 11%
Adani Ports reported a 47.2% rise in consolidated profit for the June quarter, totaling Rs 3,113 crore. Revenue saw an 11.34% increase to Rs 6,956.32 crore. EBITDA grew by 13.1%, with margins improving to 61%. CEO Ashwani Gupta commented on the strong financial performance, noting a temporary issue at Gangavaram Port, now resolved.
Adani Group to commission $4-billion petchem project by next year
The Adani Group will commission the first phase of a $4 billion PVC project by December 2026, entering the petrochemicals sector. This project aims to address India's PVC demand-supply mismatch. The initial phase will produce 1 million tonnes per annum, with State Bank of India leading the financing.
Vizinjham port will reduce time, logistics cost for Indian manufacturers: APSEZ CEO Karan Adani
Adani Ports and SEZ CEO Karan Adani announced that the Vizinjham port will significantly cut down logistics costs and time for Indian manufacturers by up to 40%. This milestone follows the arrival of the first mother ship at the port, marking India's entry into global transshipment. The port's advanced facilities, including automated operations and modern infrastructure, aim to handle large ships efficiently. Supported by a public-private partnership, the port is expected to boost trade connectivity, handling a substantial portion of India's transshipment traffic previously managed outside the country.
MV San Fernando docks at Vizhinjam: A turning point for India's maritime ambitions
Karan Adani, Managing Director of Adani Ports and SEZ Limited (APSEZ), which is developing the port, emphasized the significance of the event. "This is not just a ship arriving at a port," Adani said. "It's a symbol of India's growing role in global trade. Vizhinjam is now operational, and it's ready to transform India into a major player in transshipment."
Vizhinjam port has created 2,000 direct and indirect jobs, will create 5,500 more by 2028-29: Karan Adani
The mothership 'San Fernando' recently berthed at the new Vizhinjam International Seaport, marking a historic day for India's maritime industry and its entry into global transshipment. The port is poised to become a critical player in international trade routes, boasting state-of-the-art infrastructure and advanced technologies. With a significant investment and job creation, Vizhinjam is set to revolutionize maritime operations and solidify its position as a key transshipment port.
Vizhinjam port dream comes to life as it welcomes first cargo ship
India has officially welcomed its first cargo ship at its newly built semi-automated transshipment port in Vizhinjam, Kerala. The first mothership, "San Fernando," arrived on July 11 and was greeted by four tugs. The port, constructed under a public-private partnership model, is expected to become India's first semi-automated port, expected to be fully commissioned in September or October 2024. The project was delayed due to land acquisition issues.
Vizhinjam: Advantage India as an Adani dream docks at a port of plenty
Adani Group and India make history with the arrival of the San Fernando cargo ship at Kerala's Vizhinjam International Sea Port. The port, a key player in global trade routes, marks India's entry into global transshipment. Adani Ports plans to invest $1.2 billion to boost the port's capacity, positioning it as a world-class transshipment hub.
SC stays Gujarat HC order on taking back land given to Adani Group firm near Mundra port
The Supreme Court stayed a Gujarat High Court order requiring the state to reclaim 108 hectares of grazing land allotted to an Adani Group entity near Mundra port. The bench of justices B R Gavai and K V Viswanathan issued the stay after Adani Ports and Special Economic Zone Ltd appealed, emphasizing the need for justice.
Mundra Ahoy! Adani sets sail for shipbuilding
Adani's previously unreported shipbuilding scheme is tucked away in the ₹45,000 crore expansion plan for Mundra Port that received environmental and coastal regulation zone clearance recently, according to the minutes of the Expert Appraisal Committee (EAC) attached to the ministry of environment, forest and climate change, which approved the proposal May 15.
High watermark: Why is India building its biggest port ever?
Vadhavan Port in Palghar district, operational by 2030, will cost Rs 76,220 crore and connect via the DFC. Supporting IMEC, it will handle 23.2 million TEUs by 2040. Challenges include proximity to Tarapur nuclear plant and relocating fishing activities. This 2019 initiative, highlighted by Amitabh Kant, boosts India’s trade.
IMEE-EC's India-UAE segment on track: Ports' digital integration moves forward, set to be ready in 100 days
The strategic India-Middle East Europe Economic Corridor (IMEE-EC) is set to commence its India-UAE leg, with a digital platform for port information exchange expected to be operational within the first 100 days of the Modi government. The initiative, aimed at enhancing trade connectivity, faces challenges due to tensions in West Asia, but recent support from the G7 has bolstered its prospects. The corridor, divided into phases, will facilitate the movement of cargo from locations in India to Israel.
Nine Indian ports ranked among top 100 in Container Port Performance Index 2023
In the latest Container Port Performance Index (CPPI), released by the World Bank and S&P Global Market Intelligence, India's ports have achieved notable global rankings. Nine ports from India have been listed among the top 100 globally. Visakhapatnam Port secured the highest position among them, ranking 19th worldwide in 2023. Mundra Port also made significant progress, climbing to 27th place in the current rankings.
Adani gets Green nod for Rs 45,000 cr Mundra Port capacity expansion
Gautam Adani-led Adani Ports & Special Economic Zone Ltd (APSEZ) has received the key environmental and coastal regulation zone approval from the Centre to more than double the capacity of its flagship port located at Mundra to 514 million tonnes with an investment of ₹45,000 crore.
Japan willing to work with Adani group, says Ambassador Suzuki after meeting Gautam Adani
Ambassador Hiroshi Suzuki of Japan expressed enthusiasm for collaborating with Adani Group after meeting Chairman Gautam Adani. The meeting, which took place on May 29, included a visit to Mundra Port and Khavda, where Adani Group is developing the world's largest Hybrid Renewable Energy Park with a capacity of 30 GW. Adani expressed gratitude for Suzuki's support and highlighted Japan's interest in India's renewable energy sector. The project, expected to be completed by Adani Green Energy Limited, will cover 538 sq km in Kutch, Gujarat, and require an investment of approximately Rs 1.5 lakh crore.
Gautam Adani, Japanese envoy Hiroshi Suzuki hold talks on renewable energy project
Gautam Adani, Chairman of the AdGroup, shared insights from his meeting with Ambassador Hiroshi Suzuki of Japan at Mundra Port and the world's largest Hybrid Renewable Energy Park in Khavda.
Largest container ship to arrive in India docks at Adani's Mundra Port
Ports and Special Economic Zone Ltd (APSEZ)'s flagship Mundra Port created a milestone by welcoming the largest container ship ever to call at an Indian port after the MSC Anna vessel docked at the Mundra Port on Sunday, the conglomerate said in a press release.
Adani Group eyeing port in Philippines
APSEZ to invest in Bataan, Philippines for a 25m deep port. President Marcos supports the expansion. Strong financial performance reported with 76.87% net profit increase and significant cargo handling in India.
Govt allows exports of specified quantity of white onion via three ports
The Indian government has eased an export ban on white onion exports from three ports. Exporters must obtain a certificate from the Horticulture Commissioner of Gujarat certifying the item and quantity of onion. The exports are allowed from Mundra Port, Pipavav Port, and Nhava Sheva/JNPT Port. The ban was imposed to increase domestic availability and control prices.
APSEZ breaks records: Handles 420 MMT cargo globally, sets new milestones in March 2024
The company announced that it achieved its highest ever monthly cargo volumes, exceeding 38 MMT in March 2024. Ten of APSEZ ports and terminals handled record cargo volumes- Mundra 180 MMT, Tuna 10 MMT, Hazira 26 MMT, Mormugao 5 MMT, Karaikal 12 MMT, Ennore 13 MMT, Kattupalli 12 MMT, Krishnapatnam 59 MMT, Gangavaram 37 MMT and Dhamra 43 MMT.
Second Chinese ship carrying ship-to-shore crane for Vizhinjam port to arrive on Nov 9
The second Chinese ship, Zhen Hua 29, is set to arrive at the international deep-sea facility in Vizhinjam, India, on November 9. It will carry one ship-to-shore crane for Vizhinjam port and several yard cranes for Mundra port. The vessel will offload the crane and then depart for Mundra port in Gujarat.
Mundra Port sets new record of handling cargo volumes of 16.1 MMT in October
Mundra Port, operated by Adani Ports and Special Economic Zone Ltd (APSEZ), achieved a new cargo handling record, surpassing 16.1 million metric tonnes (MMT) in October, marking the highest volume ever handled by an Indian port. It also set a new milestone by handling 4.2 million TEUs of containers in just 203 days
Mundra is India's first port to handle cargo volumes of 16 MMT in a month
It is the largest port in the country with 102 MMT of cargo handled so far this year with a good 9 per cent year-on-year growth. The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.
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