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This also marks the debut of India’s first automated port with state-of-the-art infrastructure and facilities, capable of handling large ships, with its modern container handling equipment and world-class automation and IT systems. San Fernando, the 300-meter-long container vessel operated by Maersk with a capacity of 8,000-9,000 TEUs (twenty-foot equivalent units), will be availing the services at the port to offload about 2,000 containers and for 400 container movements within the vessel.
The company secured the LoI for a 30-year concession period through a competitive bidding process.
The firm said that it will operate the berth under DBFOT (design, build, finance, operate and transfer) basis for multipurpose clean cargo, including container cargo.
Berth No. 13 is 300m long and offers 5.7 MMT capacity annually. The berth is likely to be commissioned during FY2026-27, it added.
Further, APSEZ stated the concession agreement has to be signed within 30 days of issuance of LoI by Deendayal Port Authority.
Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.
The company’s consolidated net profit surged 76.2% to Rs 2,039.66 in Q4 FY24 as against to Rs 1,157.55 crore posted in the same period a year ago. Revenue from operations jumped 18.97% to Rs 6,896.50 crore in Q4 FY24 as compared to Rs 5,796.85 crore recorded in Q4 FY3.
Shares of Adani Ports & Special Economic Zone shed 0.41% to Rs 1471.85 on the BSE.
At 12:25 ST, the barometer index, the S&P BSE Sensex, was down 604.68 points or 0.75% to 79,750.88. The Nifty 50 index declined 172.65 points or 0.71% to 24,260.55.
The broader market underperformed the headline indices. The S&P BSE Mid-Cap index slipped 0.73% and the S&P BSE Small-Cap index tumbled 0.94%.
The market breadth was negative. On the BSE, 1,074 shares rose and 2,727 shares fell. A total of 120 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.50% to 14.64. The Nifty 25 July 2024 futures were trading at 24,298.55, at a premium of 38 points as compared with the spot at 24,260.55.
The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 32.7 lakh contracts at the 25,000 strike price. Maximum Put OI of 49.8 lakh contracts were seen at 24,000 strike price.
Buzzing Index:
The Nifty Mediaindex slipped 1.66% to 2,013.25. The index rose 0.70% in the past trading session.
Saregama India (down 3.43%), Nazara Technologies (down 2.96%), TV18 Broadcast (down 2.23%), Zee Entertainment Enterprises (down 2.13%) and Hathway Cable & Datacom (down 2%), Network 18 Media & Investments (down 1.64%), Sun TV Network (down 1.36%), Dish TV India (down 0.98%), PVR Inox (down 0.96%) declined.
Stocks in Spotlight:
Krishna Institute of Medical Sciences (KIMS) added 2.24% after the company executed a share purchase agreement (SPA) to acquire 100% equity stake of Chalasani Hospitals Private for total consideration of Rs 75 crore.
Adani Ports and Special Economic Zone (APSEZ) rose 0.22%. The company said that it has received a letter of intent (LoI) for development, operation and maintenance of Berth No. 13 at Deendayal Port.