Share of 6.5% broken Adani Ports between the acquisition report

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Adani Ports shares a 6.5% weakness in the stock.

Let Adani Logistics (Adani Logistics), Adani Enterprises, acquire Adani Agri Logistics from Adani Enterprises, a subsidiary of Adani Ports. The deal of Rs 1,662 crore is expected to be completed by the end of the current financial year. 

This acquisition transaction is within the scope of the respective-party transaction, but due to the Adani Ports owned by a wholly-owned subsidiary, minority shareholders will not need the approval for the deal.
With the acquisition of Adani Agri Logistics, 28 locations and 7 trains will be added to the network of Adani Logistics. At the same time Adani Logistics’s aim is to double its infrastructure capacity in the next 3 years.

Regardless of the positive news, the stock of Adani Ports in BSE is under pressure since morning. With the weakness in comparison to the last closed price of Rs 354.10, it fell to Rs 323.85 after beginning Rs 338.00. At around 11 o’clock, the company’s stock is running at Rs. 26.65 or Rs. 7.53% with a weakness of Rs. 327.45. At the same time, shares of Adani Enterprises are at a price of Rs. 126.10, with a weakness of 2.45 rupees or 1.91%.

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