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<ul><li><keyword id="6365618" type="DOMAIN" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword> (MSI) on Friday said it did not sell a single unit in the domestic market last month due to coronavirus-led nationwide lockdown</li><li>The company, however, exported 632 units from Mundra port following resumption of port operations.</li></ul> The country's largest carmaker <keyword id="6912" type="COMPANY" weightage="20" keywordseo="maruti">Maruti</keyword> <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword> <keyword id="3658" type="COMPANY" weightage="20" keywordseo="India">India</keyword> (MSI) on Friday said it did not sell a single unit in the domestic market last month due to coronavirus-led nationwide lockdown. The company had zero sales in the domestic market in April 2020, MSI said in a statement. This was because in compliance with the <keyword id="26362" type="COMPANY" weightage="20" keywordseo="Government">Government</keyword> orders all production facilities were closed, it added. The company, however, exported 632 units from Mundra port following resumption of port operations. The company said the units were dispatched ensuring all safety guidelines. See also: <a href="https://www.businessinsider.in/india/news/list-of-red-zones-in-india-on-april-30/articleshow/75484767.cms">These are the 130 coronavirus red zones in India — which are unlikely to open even after the lockdown ends</a>

Maruti sells zero units in domestic market in April due to coronavirus lockdown

<ul><li>This 18-year-old middle class boy became a trader and now sits on top of a business empire that, amongst others, owns and operates India’s largest private port at Mundra. </li><li>In 25 years, <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> built one of India's largest infrastructure companies worth ₹4700 crore. </li><li>According to Hurun Rich List, <keyword id="76451" type="COMPANY" weightage="20" keywordseo="Adani">Adani</keyword> is the fifth richest person in India with a networth of ₹94,500 crore. </li></ul>The art of making money cannot be taught in a school. This adage is proven letter and word by billionaire Gautam Adani who quit college at the age of 18, took a train to Mumbai with a few hundred Rupees in his pocket. This middle class boy became a trader and now sits on top of a business empire that, amongst others, owns and operates India’s largest private port at Mundra. Not only is he keeping his wide business interests afloat,<a href="https://economictimes.indiatimes.com/markets/stocks/news/adani-group-gets-the-nod-to-bid-for-dighi-port/articleshow/71269129.cms"> he is also reportedly looking to buy debt-laden Dighi Port with 78% haircut</a>, for ₹650 crore. Adani who has not studied risk management, yet does not shy away from making gnarly moves. Even after knowing that he might lose it all, Adani had bet a massive $10 billion on an Australian coal mine — his highest best so far. Here’s a look at Adani and his business’ growth over the last four years: 
	
	<div type="Slideshow" msid="71304650" hostid="261" title="Gautam Adani's wealth multiplied nearly 3 times in the last four years" firstImageMsid="71304651" slideCount="4"></div>

Gautam Adani's wealth multiplied nearly 3 times in the last four years

New Delhi, Apr 1 () To ensure adequate supply of cooking oil in the country, industry body SEA on Wednesday suggested various measures such as fast customs clearances for imported crude edible oil by exempting mandatory testing in food regulator FSS's approved lab at Baroda, Gujarat. It has sought electronic passes for transportation of crude and refined edible oils across the country without any hurdles at state borders. Ban on sale of loose edible oil, permission to buy oilseeds directly from farmers at factory gate and smooth movement of packaging and other raw materials required by processing units were also recommended by the Solvent Extractors' Association of India (SEA).The association's President Atul Chaturvedi has written a letter to Consumer Affairs Secretary Pawan Kumar Agarwal, suggesting ways to boost supply of edible oils.India's total consumption of edible oils is about 230 lakh tonnes, out of which domestic production is about 75 lakh tonnes and imports about 150 lakh tonnes. "Any dislocation in smooth flow of imported oils can have serious repercussions in the country," Chaturvedi said. He mentioned that a large quantity of crude edible oil is being imported at Kandla and Mundra ports on west coast."The issue is that FSSAI designated customs officers draw samples from ship tanks and send for testing at FSSAI approved laboratory at Baroda where the FSSAI designated laboratory tests the samples and provides reports."Only after the reports are received the imported oil is cleared by customs.With complete lockdown and restrictions on movement this situation results in inordinate delay disturbing supply chain big time," the letter said. To overcome this problem, Chaturvedi suggested that all crude edible oil vessels should be cleared immediately on a simple undertaking from importers that it would be sold only after refining.Alternately, he said there are certain NABL accredited laboratories at Kandla/Mundra whose services can be utilised to expedite things.The SEA said Kandla and Mundra ports handle 30-40 per cent imported crude edible oils and refined at processing units around these ports. Chaturvedi demanded national permit for multi-state transport of cooking oil, by issuing the electronic pass which should be respected by all state authorities."As a matter of fact we would suggest e-pass should be issued to all port based refineries likeKakinada, Krishnapatnam, Mumbai, Hazira, Haldia, Mangalore, Haldia, Kolkata, Tuticorin, Chennai and Paradeep etc," he said. Talking about domestic supplies, the SEA said currently edible oil units are partially functioning with 40-50 per cent capacity with all due precautions. "Demand has shifted to household )consumption ( small packs) hence supply of raw material/packing material to these units should be resolved," he said.The SEA President said that it was important that state border check posts should be adequately sensitised to allow passage of edible oil lorries /tankers without harassment. Empty returning lorries should also be allowed to pass unhindered."We would also suggest banning sales of loose edible oils to consumers to ensure safety in these difficult times," Chaturvedi said. "Currently, all marketing yards ( mandies ) are closed leading to shortage of raw material. We suggest, exempt oilseeds crushing /processing units (oil millers and solvent extraction units) from APMC to enable them to purchase oilseeds at their factory gate directly from farmers. This help the farmer to market his produce," the letter said. The SEA President opposed decisions by local authorities in some states to fix prices of cooking oils. MJH MKJMKJ

SEA suggests measures to ensure adequate cooking oil supply in country

Passenger car major <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India Ltd had transported over 3.2 lakh vehicles in 2022 through Indian Railway and is setting up dedicated railway sidings at its facilities in Haryana (Manesar) and Gujarat, said a top company official. The company last year transported over 3.2 lakh vehicles using rail wagons, the highest in a calendar year since 2013 when the company got the Automobile Freight Train Operator (AFTO) license. "Going forward, we aim to further increase these numbers. For this, we are setting up dedicated railway sidings at our facilities in Haryana (Manesar) and Gujarat," <keyword id="13455711" type="General" weightage="50" keywordseo="hisashi-takeuchi" source="Orion">Hisashi Takeuchi</keyword>, Managing Director &amp; CEO, said. "Aligned with the Government of India's aim to reach net zero emissions by 2070, we have enhanced our efforts to reduce carbon footprint in our business operations. Our strategy to increase the use of rail mode in outbound logistics has resulted in dispatching record 3.2 lakh vehicles using railways in CY2022," he said. According to him, the use of railway wagons instead of trucks has resulted in offsetting around 1,800 MT of CO2 emissions. "In addition, we have been able to save over 50 million litres of fuel during the year which contributes to enhancing the energy security of our country," <keyword id="333559" type="General" weightage="50" keywordseo="takeuchi" source="Orion">Takeuchi</keyword> remarked. The share of railways in carrying Maruti Suzuki's cars is on the rise and last calendar year it was 17.1 per cent up from 13.9 per cent/2.2 lakh units in 2021. The AFTO license allows Maruti Suzuki to fabricate and operate high speed, high capacity autowagon rakes on the Indian Railways network. Maruti Suzuki uses 40 specially designed railway rakes to transport vehicles across the country. Each rake has a capacity to carry over 300 vehicles. Presently, the company uses loading terminals across Delhi-NCR and Gujarat and 18 destination terminals - Bangalore, Nagpur, Mumbai, Guwahati, <keyword id="46519" type="General" weightage="50" keywordseo="mundra-port" source="Orion">Mundra Port</keyword>, Indore, Kolkata, Chennai, Hyderabad, Ahmedabad, Delhi-NCR, Siliguri, Coimbatore, <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>, Agartala, Silchar, Ranchi and Ludhiana- Maruti Suzuki said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/french-automaker-citroen-has-unveiled-its-ec3-electric-hatchback-ahead-of-its-india-launch/slidelist/97048865.cms">Citroen eC3 electric hatchback unveiled – range, booking date, and everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mahindra-xuv400-electric-suv-launched-starting-at-15-99-lakh-range-specs-and-more/slidelist/97046819.cms">Mahindra XUV400 electric SUV launched starting at ₹15.99 lakh – range, specs and more</a>

Maruti Suzuki to increase transport of cars through rail wagons, to set up dedicated railway sidings

New Delhi, Jan 7 () Acquisition of Krishnapatnam Port Company by Adani Ports and Special Economic Zone (APSEZ) will increase the latter's market share and diversity, Moody's Investors Service said on Tuesday.
The analysis comes after APSEZ's acquisition of 75 per cent stake in debt-laden Krishnapatnam Port Company Ltd (KPCL) in Andhra Pradesh for Rs 5,625 crore in an all-cash deal.
Moody's said the acquisition is in line with APSEZ's target of throughput volumes of 400 MT by fiscal 2025.
KPCL is a multi-cargo port that registered throughput volumes of 54.4 million tonne in 2018-19. KPCL is the second-largest private port in India by volume after APSEZ's Mundra port.
"The addition of KPCL to APSEZ portfolio will increase APSEZ's market share and its diversity, both geographically and in its cargo composition," Moody's said.
It pointed out that APSEZ's leverage, as measured by funds from operations/debt, should remain above 15-18 per cent after the acquisition.
"While APSEZ's outstanding consolidated debt will significantly increase by 18 -20 per cent as a result of the acquisition, the refinancing risk is manageable because of the cash flow visibility from the group's assets, staggered nature of the debt maturities and diversified funding sources," said Abhishek Tyagi, a Moody's Vice President and Senior Analyst.
"In addition, the slightly weaker metrics post acquisition will be counterbalanced by KPCL's strong positioning and market share on the east coast of India," added Tyagi. NAM NAM ANU
ANU

Stake buy in KPCL to increase Adani Port's market share: Moody's

New Delhi, Feb 24 () The government has included Kattupalli Port in the list of sea ports where pre-shipment inspection certificate (PSIC) will not be required for importing metallic scrap from safe countries.According to a public notice of the directorate general of foreign trade (DGFT), "import of metallic scrap from safe countries/regions without PSIC can now be facilitated through Kattupalli Port (in Chennai) as well".DGFT is an arm of the commerce ministry which deals with export and import related matters.The safe countries include the US, the UK, Canada, New Zealand, and Australia, besides the European Union.It said import consignments of metallic waste and scrap shall be subject to PSIC from the country of origin."However, metallic waste and scrap (both shredded and unshredded) imported from safe countries/region will not require PSIC if consignments are cleared through the eight ports," it added.The other ports are Chennai, Tuticorin, Kandla, JNPT, Mumbai, Krishnapatnam and Mundra.Consignments from the safe countries and the EU will be accompanied by certificate from the supplier/scarp yard authority to the effect that it does not contain any radioactive materials or explosives. This will, however, be subject to radiation and explosive checks through portal monitors and container scanner on these ports.Trans-shipment through these countries will not be allowed this facility, it added.However, the import through all other ports, irrespective of the country of origin, will be subject to PSIC. RR ANU

No PSIC required for metallic scrap import at Kattupalli Port from safe countries: Com Min

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and <keyword id="6365230" type="UNKNOWN" weightage="20" keywordseo="special-economic-zone">Special Economic Zone</keyword> Limited (APSEZ) on Monday announced the completion of the acquisition of <keyword id="9624334" type="COMPANY" weightage="20" keywordseo="krishnapatnam-port-company-ltd">Krishnapatnam Port Company Ltd</keyword>, (KPCL) for an enterprise value of Rs 12,000 crore. It will result in APSEZ having a controlling stake of 75 per cent in KPCL from the CVR Group and other investors. This acquisition will accelerate APSEZ's stride towards 500 MMT by 2025 and is another step in implementing APSEZ's stated strategy of cargo parity between west and east coasts of India, <keyword id="76451" type="COMPANY" weightage="20" keywordseo="Adani">Adani</keyword> Ports said in a regulatory filing. <keyword id="1033941" type="PERSON" weightage="20" keywordseo="Karan-Adani">Karan Adani</keyword>, Chief Executive Officer and Whole Time Director of APSEZ said: "This transformational acquisition enables us to roll out world class customer service to an increased customer base and provide pan-India solution to them. He added that the company's experience of turning around acquisitions like Dhamra and Kattupalli ports will enable it in harnessing the potential of KPCL. "With a vast waterfront and land availability of over 6,700 acres, KPCL is capable of replicating Mundra and would be future ready to handle 500 MMT. We will replicate our operations and maintenance philosophy at KPCL, continue to focus on environment, reduce emission levels and have zero tolerance for fatalities and thus improve returns to stakeholders," Adani said.

Adani Ports completes ₹12,000 crore  acquisition of Krishnapatnam Port Company

After having the choice of porting your mobile number to another network, you would now be able to port your bank account number to another bank. At an event organized by the Banking Codes and Standards Board of India, <keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword> deputy governor <keyword id="1531843" type="COMPANY" weightage="100" keywordseo="S-S-Mundra">S S Mundra</keyword> has said that technological innovation and linking bank accounts to Aadhaar has made it easier to port bank account numbers. When put to use, this process won’t only save customers the trouble of going through the entire process of opening a new bank account while switching banks, and would also do away with the need to have multiple bank accounts. Since the customers would find it easier to switch banks, there would be an increase in competition amongst banks, which could also lead to better services. However, this is not going to be easy for banks given the number of loopholes about technology and data-integration front that need to be addressed before the process can be undertaken. "Banks will have to restructure their account numbering systems. Many of them have different methods and streamlining these will take time. This will also involve changes in their software integration systems," Adhil Shetty, CEO of Bankbazaar told <a href="http://economictimes.indiatimes.com/industry/banking/finance/rbi-wants-you-to-keep-your-account-number-while-switching-banks/articleshow/58922929.cms">ET</a>. Also, there is a difference in the know your customer (KYC) procedures undertaken by different banks, which is why one bank might not accept the diligence done by another. Also, people might switch banks too often to escape the net of the Prevention of Money Laundering Act, which also needs to be taken care of.

Change your banks, not your account number, says RBI

New Delhi, Jul 15 () To actualise the vision of turning the Vallarpadam terminal at Cochin Port into a transshipment hub, Union Shipping Minister Mansukh Mandaviya on Wednesday asked officials to chalk out a strategy in this regard. The directions were given by the minister during the course of a review of development activities at the terminal, envisaged as the first transshipment port of India, managed by the DP World. The Kochi International Container Transshipment Terminal (ICTT), locally known as the Vallarpadam terminal, is located strategically on the coastline in Kerala. "We are developing a transshipment facility on the Indian port. Resolving various issues of the Vallarpadam terminal is one of the top priorities of the Ministry of Shipping," Mandaviya was quoted as saying in a statement by the shipping ministry. He directed officials to chalk out a strategy to tackle various challenges and actualise the vision of a transshipment hub in the country and a pioneer hub in South Asia, the statement said. A transshipment hub is a terminal at the port that handles containers, stores them temporarily and transfers them to other ships for the onward destination. It also added that he Vallarpadam terminal fulfils all the criteria needed to develop it as a transshipment hub as it is positioned in proximity to international sea routes. Besides, it can be easily accessed through all Indian feeder ports, the statement said. The statement said it has multiple weekly feeder connections to all ports on western and eastern coasts of India -- from Mundra to Kolkata -- and has proximity to key hinterland markets of India. "It has the infrastructure to manage large ships and capacity to scale it up as per requirement," the statement said adding that the Vallarpadam terminal is proposed to be developed as the most-preferred gateway for southern India and a leading transshipment hub of South Asia. The first phase of the Rs 6,250-crore ICTT at the Vallarpadam island was dedicated to the nation in February 2011, describing the project as a "long-awaited milestone" in the development of the country's logistics infrastructure. NAM HRS

Mandaviya asks officials to draw strategy to turn Vallarpadam terminal into transshipment hub

New Delhi, Automobile major <keyword id="6365618" type="DOMAIN" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword> has commenced export of Suzuki's compact off-roader Jimny from India. Accordingly, the first shipment of 184 units left from <keyword id="46519" type="DOMAIN" weightage="20" keywordseo="Mundra-Port">Mundra port</keyword> to Latin American countries such as Columbia and Peru. Besides, the three-door <keyword id="6610627" type="PERSON" weightage="20" keywordseo="suzuki-jimny">Suzuki Jimny</keyword> will also be exported to the Middle East and African markets from India, the company said on Wednesday. The current generation of Jimny was launched in 2018 by <keyword id="100743" type="COMPANY" weightage="20" keywordseo="Suzuki-Motor-Corporation">Suzuki Motor Corporation</keyword> in Japan. The all-terrain vehicle has a legacy of over 50 years, catering to customers worldwide. According to the company, with India as a production base for Jimny, Suzuki aims to leverage <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>'s global production stature. The company pointed out that there is a large customer demand worldwide well beyond Suzuki Japan capacity for this model and the Indian manufacturing will supplement capacity to meet this global demand. "Jimny manufactured at Maruti Suzuki's Gurugram plant shares the same specification as the export models produced at the Suzuki Motor Corporation's Kosai plant in Japan," said Kenichi Ayukawa, Managing Director &amp; CEO, Maruti Suzuki India. "We are confident with Jimny we will be able to enhance our overall exports." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Maruti begins the export of its 'made in India' compact off-roader SUV Jimny

Ahmedabad (Gujarat) [India], November 9 (ANI): AdPorts and Special Economic Zone Ltd. (APSEZ) has reported robust financial results for the second quarter and the first half ending September 30, 2023, showcasing remarkable growth across key metrics. According to a press release by Adani, APSEZ witnessed a substantial YoY revenue growth of 26 per cent, reaching Rs 12,894 Crores during H1 FY24. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) recorded an impressive YoY growth of 49 per cent, amounting to Rs 7,429 Crores. Profit After Tax (PAT) increased by 33 per cent YoY, reaching Rs 3,881 Crores. The port EBITDA margin expanded by 220 basis points (bps) YoY to 72 per cent in H1 FY24. APSEZ achieved record cargo volumes of 203 MMT during H1 FY24 across its 8 ports and terminals. Mundra Port, the flagship port, celebrated 25 years of successful operations, handling over 16 MMT of cargo in a month and achieving the 4 Mn TEUs milestone in just 203 days. APSEZ expanded its logistics business, adding 11 rakes, Loni ICD, and warehouses at Mumbai and Indore during H1 FY24. Karan Adani, CEO and Whole Time Director of APSEZ expressed satisfaction with the company's outstanding performance, citing a 14 per cent YoY increase in cargo volume and improved operational efficiencies contributing to the 72 per cent domestic ports EBITDA during H1 FY24. Adani said, "APSEZ achieved another milestone by registering its highest ever half-yearly revenue of Rs 12,894 Crore, EBITDA of Rs 7,429 Crore and cargo volumes of 203 MMT during H1 FY24. The splendid performance was on the back of a 14 per cent YoY increase in cargo volume coupled with improving operational efficiencies at our ports, which has resulted in our domestic ports EBITDA improving by 220bps YoY to 72 per cent during H1 FY24." APSEZ's under-construction port in Sri Lanka secured a funding commitment of USD 553 million from the US International Development Finance Corporation (DFC). The logistics business recorded significant growth, with rail volumes up 25 per cent YoY and GPWIS volumes up 42 per cent YoY during H1 FY24. APSEZ achieved an emission intensity reduction of 48 per cent and a water intensity reduction of 58 per cent from the base year (FY2016) as of H1 FY24. The company completed a mangrove plantation of 4,200 Ha against its 2025 target of 5,000 Ha. S&amp;P (DJSI) provided APSEZ with a score of 65 (out of 100), ranking it in the top 4 per cent globally in the Transport and Transport infrastructure sector in its 2023 ESG assessment. APSEZ remains poised for sustained growth, with strong financials, strategic expansions, and a commitment to environmental sustainability. (ANI)

You Searched For "mundra ports" and got 11 results

Maruti sells zero units in domestic market in April due to coronavirus lockdown

PTI

Gautam Adani's wealth multiplied nearly 3 times in the last four years

Preeti Soni

SEA suggests measures to ensure adequate cooking oil supply in country

PTI

Maruti Suzuki to increase transport of cars through rail wagons, to set up dedicated railway sidings

IANS

Stake buy in KPCL to increase Adani Port's market share: Moody's

PTI

No PSIC required for metallic scrap import at Kattupalli Port from safe countries: Com Min

PTI

Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company

IANS

Change your banks, not your account number, says RBI

BI India Bureau

Mandaviya asks officials to draw strategy to turn Vallarpadam terminal into transshipment hub

PTI

Maruti begins the export of its 'made in India' compact off-roader SUV Jimny

IANS

Adani ports and Special Economic Zone Ltd. records stellar H1 FY24 performance

ANI

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