India's Adani Port Rises on Plans of Abbott Stake Sale

January 29, 2013 7:42 AM GMT

  • FOLLOW IBT: YOUR ONE-STOP NEWS SITE
  • Google Plus

Share article

* Shares in Adani Ports and Special Economic Zone Ltd gain 5.2 percent a day after the company says it will sell a



majority stake in Australia's Abbot Point port to the Adani family. 



* Abbot Point reported a loss of 670 million rupees for the October-December quarter, Adani said on Monday.



* Adani Port's stake sale in its Australian port would reduce the Indian company's consolidated debt by around 110 billion




    					

            					
    
                					
  • FOLLOW IBTIMES
    • 
                					
  • 
                         					
    
                     				
    • 
                     				
  • 
                          					
                          					
                     				
    • 
                     				
  • 
                          					Google Plus
                     				
    • 
            					

        				

    				
rupees ($2.04 billion), while the reinvestment of the cash flows for domestic growth opportunities would be a positive, brokerage



Edelweiss says in an email to clients. 



    



($1 = 53.9050 Indian rupees)

Copyright 2012 Thomson Reuters. All rights reserved.
Join the Conversation
Universal Credit: UK benefits shake-up begins
READ MORE
Vince Cable, UK Business secretary speaks with IBTimes UK exclusively (Photo: Reuters)

Vince Cable: UK’s Biggest Banks Talk ‘Absolute Nonsense' on SME Lending Demand

HSBC may see 'money laundering' deal struck down

HSBC at Risk of Drug and Terror Money Laundering Charges

Julian Assange

Julian Assange's WikiLeaks 'Barely Able to Cover Costs' as Donations Dry up

Sally Bercow has quit Twitter over McAlpine tweet

Sally Bercow’s Tweet is Most Expensive in History at a Cost of £16,000 a Word

UK manufacturing

UK Youth Too Lazy and Unskilled for Manufacturers

SEA ITV Hack

ITV Twitter Hacked By pro-Assad Syrian Electronic Army

News stand

Abolish National Insurance Tax Breaks for UK Self-Employed, Says CentreForum

Yoda model made with a 3D printer in Berlin earlier this year.

Inventors Challenged in 3D Printers for Peace Contest

World
Indian Police Arrest A Suspect in The Mumbai Terror Attacks Probe

Featured Videos