
Adani Ports shares drop 5% on Israel-Gaza conflict
Shares of Adani Ports hit an intraday low of ₹793, taking the port operators' market cap to ₹1.71 lakh crore.
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.