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<ul><li>The shares of <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> and Special Economic Zone are down by nearly 5% on April 13 after S&amp;P announced that it would be removing the company from its Dow Jones Sustainability Indices.</li><li>The dip comes after the shares of the company already fell by nearly 9% on April 12.</li><li>In the last two days, Adani Ports has nosedived by nearly 14% on fears of slump on global trade — and the company’s history in Myanmar isn’t helping.</li></ul>The share price of Adani Ports is down by 4.9% as of 12:00 pm. This comes after the US-based S&amp;P announced that they will be removing the company headed by Gautam Adani — one of India’s richest men — from its Dow Jones Sustainability Indices. This comes after the stock already fell by nearly 9% on April 12.<br /><br />    <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5839415"></div>]]></cdata></div><br />After a strong show in recent months — despite the pandemic playing havoc — the nose dive of Adani Ports’ shares aren’t just a factor of the Myanmar controversy. The market is also in fear of a slump in international trade as the second wave of COVID-19 infections is triggering countries around the world to be on guard. This led the Sensex to crash by 1,700 points yesterday.<br /><br />    <div type="Article" hostid="261" msid="82043202" title="Gautam Adani and Mukesh Ambani cumulatively lost nearly $7 billion as the markets plunged" mstype="2" mssubtype="0"></div><br /><cmsannotation type="cmsannotation" annotationid="S&amp;P scraps Adani Ports from its indices" comment="subhead" text="S&amp;P scraps Adani Ports from its indices"><span data-til="noop">S&amp;P scraps Adani Ports from its indices</span></cmsannotation><br />“Analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar’s military, who are alleged to have committed serious human abuses under international law,” said the <a href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20210412-1355163/1355163_djsi-adani-20210412.pdf">announcement</a>.<br /><br />Earlier this month, the Australian Centre of International Justice (ACIJ) and activist group Justice for Myanmar (JFM) had also <a href="https://www.businessinsider.in/stock-market/news/gautam-adanis-adani-ports-share-price-rallies-even-as-nse-and-bse-are-being-called-on-to-take-action-against-the-company-for-myanmar-military-ties/articleshow/81843747.cms">called on</a> India’s National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) to take cognizance of the allegations. The civil liberties organisations’ stated that Adani Ports was ‘factually misleading’ its stakeholder, but no action has been taken so far.<br /><br />“This shows there are commercial consequences for Adani Ports’ and other businesses that continue to disregard human rights responsibilities by financing the Myanmar military,” said Justice For Myanmar spokesperson <a href="https://www.justiceformyanmar.org/press-releases/adani-ports-removed-from-dow-jones-sustainability-index">Yadanar Maung</a>, hailing the S&amp;P’s decision. <br /><br />Adani Ports did not immediately respond to an emailed request for comments from Business Insider India.<br /><br /><cmsannotation type="cmsannotation" annotationid="What are the allegations leveled against Gautam Adani’s company?" comment="subhead" text="What are the allegations leveled against Gautam Adani’s company?"><span data-til="noop">What are the allegations leveled against Gautam Adani’s company?</span></cmsannotation><br />Adani Ports and Special Economic Zone is one of the largest private port operators in India. And, it has plans to build a $290 million port in Yangon on land that it has leased from the Myanmar Economic Corporation (MEC).<br /><br />The problem lies in the fact that the MEC is run by the Myanmar military. And the military has been accused of violating human rights when it <a href="https://www.businessinsider.in/international/news/people-in-myanmar-are-using-trash-to-protest-as-the-death-toll-climbs-to-more-than-500/articleshow/81770094.cms">toppled the government</a> on February 1. The coup led to the deaths of at least 700 people.<br /><br />The incident drew criticism from all corners of the globe, including <a href="https://www.businessinsider.in/politics/world/news/biden-announces-sanctions-targeting-myanmar-military-leaders-to-urge-them-to-release-detained-elected-leaders/articleshow/80826948.cms">sanctions from the US</a> and Britain on the MEC and Myanmar Economic Holdings Public Company Limited (MEHL).<br /><br />“Adani Ports’ business with a Myanmar military company is reflective of its unethical business also demonstrated via its contribution to the climate crisis, through its involvement in the proposed Adani Carmichael coal project in Australia,” pointed out the executive director of the ACIJ, <a href="https://acij.org.au/joint-media-release-adani-ports-removed-from-dow-jones-sustainability-index/">Rawan Arraf</a>.<br /><br />In an earlier statement, <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">Adani Ports spokesperson</a> said that the company is looking into the allegations. “Much like our global peers, we are watching the situation in Myanmar carefully and will engage with the relevant authorities and stakeholders to seek their advice on the way forward,” they said.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-cumulatively-lost-nearly-7-billion-as-the-markets-plunged/articleshow/82043202.cms">Gautam Adani and Mukesh Ambani cumulatively lost nearly $7 billion as the markets plunged</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/tcs-has-broken-many-records-in-the-last-the-three-months-from-revenue-to-new-deals-to-new-hiring/articleshow/82034522.cms">TCS has broken many records in the last three months — but that isn't good enough for the market</a><br /><br /></strong><a href="https://www.businessinsider.in/finance/news/rbis-g-sap-1-0-is-certainly-a-much-needed-demand-lever-to-support-the-government-borrowing-programme/articleshow/82042416.cms"><strong>RBI’s G-SAP 1.0 is certainly a much needed demand lever to support the government borrowing programme</strong></a><br />

Adani Ports’ shares down 14% in two days as market fears a slump in global trade and Myanmar issue denting its image

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.<br /><br />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.<br /><br />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.<br /><br />Profit After Tax (PAT) increased by 33 per cent YoY, reaching Rs 3,881 Crores.<br /><br />The port EBITDA margin expanded by 220 basis points (bps) YoY to 72 per cent in H1 FY24.<br /><br />APSEZ achieved record cargo volumes of 203 MMT during H1 FY24 across its 8 ports and terminals.<br /><br />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.<br /><br />APSEZ expanded its logistics business, adding 11 rakes, Loni ICD, and warehouses at Mumbai and Indore during H1 FY24.<br /><br />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.<br /><br />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."<br /><br />APSEZ's under-construction port in Sri Lanka secured a funding commitment of USD 553 million from the US International Development Finance Corporation (DFC).<br /><br />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.<br /><br />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.<br /><br />The company completed a mangrove plantation of 4,200 Ha against its 2025 target of 5,000 Ha.<br /><br />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.<br /><br />APSEZ remains poised for sustained growth, with strong financials, strategic expansions, and a commitment to environmental sustainability. (ANI)<br /><br />

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

<br /><ul><li><strong>The Adani group stocks are one of the worst affected in the last few weeks as Indian and global markets are rattled by <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword>.<br /></strong></li><li><strong>The share price of all the six companies of the Group — Adani Enterprises, Adani Ports, Adani Power, Adani Transmissions and Adani Gas — have slipped in the last ten days.<br /></strong></li><li><strong>Here is how they have been performing.<br /></strong></li></ul>The Adani group stocks are one of the worst affected in the last few weeks as Indian and global markets are rattled by Coronavirus. In addition to an effect of bearish sentiment taking over the markets and effects of an extended pandemic, the energy major’s stocks are also suffering from the crude oil price crash after Saudi Arabia and Russia engaged in a price war. <br /><br />The share price of all the six companies of the Group — Adani Enterprises, Adani Ports, Adani Power, Adani Transmissions and Adani Gas — have slipped in the last ten days.<br /><br /><strong>Here is how they have been performing. </strong><br /><br />
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<br />Adani Enterprises saw a 25% dip in the share price over the last ten days — from ₹218.35 on March 2 to ₹162.85 on March 12. <br /><br />
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<br />The stock of Adani Gas went down by ₹34.9 during the same period. <br /><br />
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<br />The shares of Adani Power slumped by 35% between March 1 and March 12. <strong><br /></strong><br />
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<br />The stock of Adani Transmission also slumped by a little over 35%. <br /><br />Over the course of the last six years, the group has expanded its operations in its port, coal imports, coal mining, power generation, city gas distribution and edible oil imports. The Adani Group <a href="https://scroll.in/article/923095/from-2014-to-2019-how-the-adani-groups-footprint-expanded-across-india">saw a turnover of ₹77,000 crore with ₹20,141 crore as operating profits in 2017-18</a>.<br /><br />
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<br />Adani Ports stock too shaved off 15.8% value as exports remain stressed as the pandemic spreads. <br /><br />
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<br />Adani Green which has been one of the best performing stocks of the group in the last few months lost almost 20% of its value due to the major market sell off and outflow of foreign investors. <br /><br />As the virus, which has already affected people in over 75 countries continues to spread, the researchers are now worried about a global recession. As of now, there have been 75 confirmed coronavirus cases in India.<br /><br />The shutting down of factories in China has disrupted global supply chains ⁠— e.g. lack of parts have stalled car manufacturing, lack of inputs have hurt drug making and so on ⁠— trade and travel have to come a grinding halt, triggering fears of large-scale unemployment, and those are just some of the effects of the deadly coronavirus. <br /><br />This led to a sharp sell-off in global markets, with Wall Street clocking its worst plunge since the collapse of Lehman Brothers that triggered the global financial crisis in 2008. <br />

All of Adani Group stocks suffer as oil price war adds fuel to fire amidst ‘coronacrash’

Gautam Adani in striking distance of entering the top 20 richest club once again

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Adani Ports’ shares down 14% in two days as market fears a slump in global trade and Myanmar issue denting its image

Prabhjote Gill

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

ANI

All of Adani Group stocks suffer as oil price war adds fuel to fire amidst ‘coronacrash’

Prerna Sindwani

Gautam Adani in striking distance of entering the top 20 richest club once again

Rounak Jain

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