Shares of two Adani Group companies—Adani Ports & Special Economic Zone Ltd and Adani Total Gas Ltd—are in the spotlight for Monday’s trading session due to recent news. Both companies issued separate filings with the stock exchanges outlining significant developments.
Adani Ports has signed a memorandum of understanding (MoU) with Rorix Holdings, a trade facilitation and finance company based in Abu Dhabi. This agreement was made during the UAE-India Business Forum. The partnership aims to integrate advanced technologies into logistics and trading platforms, transforming the commodities market ecosystem. The filing stated that this initiative will enhance innovation and growth, providing a more seamless and transparent trading environment for global stakeholders.
On Monday, shares of Adani Ports settled at Rs 1,438.45, marking a 2.16 percent increase for the day. The company’s market capitalization exceeded Rs 3.10 lakh crore by the close of the previous session. Analysts at Motilal Oswal Financial Services expect Adani Ports to outperform India’s overall growth due to its diverse port operations along both the western and eastern coastlines. They project an 11 percent growth in cargo volumes from FY24 to FY26, leading to compound annual growth rates (CAGR) of 14 percent in revenue, 15 percent in EBITDA, and 22 percent in profit after tax (PAT). The firm maintains a ‘buy’ rating with a target price of Rs 1,850, indicating a potential 29 percent upside.
In a separate filing, Adani Total Gas announced it has secured significant global financing for its city gas distribution business. This funding will enhance the company’s network infrastructure, aiming to serve over 200 million people, which represents 14 percent of India’s population. The financing framework allows Adani Total Gas (ATGL) to access future funding aligned with its business strategy. The initial financing of $375 million, completed with international lenders, includes a commitment of $315 million and options for further enhancements. Key lenders involved in this financing include BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
The filing indicated that this funding will accelerate ATGL’s capital expenditure program, facilitating rapid expansion into its 34 authorized geographical areas across 13 states. This expansion aims to enhance the infrastructure for piped natural gas (PNG) and compressed natural gas (CNG), supporting the development of a gas-based economy.
Shares of Adani Total Gas rose 1.60 percent, closing at Rs 788.60 on Monday, with a market capitalization exceeding Rs 86,700 crore.
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