Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Adani Ports sells 49% stake in Vizhinjam port to shipping major MSC's unit in $1.4 bn deal
Adani Ports will sell 49% stake in its Vizhinjam port to Mediterranean Shipping Co's unit for $1.4 billion. With a big capacity expansion on the cards, the partnership looks to increase traffic and improve logistics for the Indian port.
CDSCO asks states, port offices to step up screening to curb imports of illegal drugs
India's drug regulator is intensifying border screenings to block unapproved medicines from entering the country. Authorities are cracking down on illegal import channels and boosting surveillance in vulnerable areas like coastal regions and logistics hubs. State drug controllers are urged to gather intelligence and work with law enforcement to seize and prosecute those involved in the unauthorized trade of medicines, safeguarding public health.
Adani Ports emerges top contender for Karanja Terminal takeover
Adani Ports is poised to acquire Karanja Terminal & Logistics, with creditors endorsing its ₹625-crore recovery plan. The nation's top port operator has offered full repayment to financial creditors for their outstanding dues. This development follows Prudent ARC's acquisition of nearly all of Karanja's debt, signaling a significant shift in the company's future.
Adani eyes Bengal ports, logistics opportunities as SMPK plans tourism push
Kolkata's Syama Prasad Mookerjee Port is set to get a river cruise terminal and museum, boosting tourism. The port aims to increase cargo handling significantly and is undertaking major infrastructure projects. Meanwhile, Adani Group is exploring substantial investments across West Bengal in various sectors, signaling a push for industrial growth and enhanced connectivity.
Fadnavis proposes creation of special rail freight corridor to link ports with Samruddhi Expressway
Maharashtra plans a dedicated rail freight corridor. This corridor will connect major ports like JNPT and Vadhvan Port with the Samruddhi Expressway. The initiative aims to significantly cut logistics costs. It will also link inland dry ports and industrial hubs across the state. This integration will bring more of Maharashtra into global supply chains.
JSW Infra well placed to ride port-led growth; MOFSL says Buy for 40% gain
With a balanced east-west coast presence and expanding inland logistics, analysts believe it is well placed to benefit from India's push for multimodal integration and port-led industrial growth
India unveils Port Performance Index, maritime digital reforms to boost global competitiveness
Sarbananda Sonowal said, “We have introduced the Logistics Port Performance Index (LPPI) for FY 2024-25. It is a major step towards improving the efficiency, transparency & global competitiveness of Indian ports. By promoting continuous improvement & global benchmarking, it will strengthen India’s position as a leading maritime power.”
JSW Steel commences 13.2 MTPA Paradeep Integrated Steel Plant project
The Paradeep Integrated Steel Plant will be developed in phases with a planned capacity of 13.2 million tonnes per annum (MTPA) and an estimated investment of about Rs 65,000 crore in phases. Spread across nearly 2,950 acres, the project is strategically located on Odisha's coastline, offering strong port connectivity, efficient access to raw materials and robust logistics infrastructure to serve both domestic and international markets.
Cochin Shipyard to invest in deeptech platform Maritech
Cochin Shipyard has invested 5% in Maritech Integrated Maritime's deeptech platform, Integrated Maritime Exchange (IME), under its USHUS startup program. This initiative aims to bolster India's maritime ecosystem by fostering digital solutions for logistics and port services. The investment aligns with the government's vision for technological advancement in the maritime sector.
Welspun One leases 65,000 sq ft at JNPA SEZ to Balmer Lawrie for SEZ warehousing expansion
Welspun One and Balmer Lawrie have signed an agreement for warehousing space at WTC Nhava Sheva. This marks Welspun One's first partnership with a government-owned company. Balmer Lawrie will use the facility to expand its logistics operations. The development is expected to be operational by early 2027. This collaboration aims to enhance SEZ warehousing and port-linked logistics services.
Indian ports turning into logistics and industrial hubs, shipping secretary tells investors in Singapore
India's ports are becoming major logistics hubs. Cargo capacity has doubled and will reach 3,500 million tonnes per annum by 2030. The nation is also boosting its shipbuilding sector, aiming to be among the top five global shipbuilding nations by 2047. Investments are flowing into green port development and green fuel production.
West Asia crisis hits stainless steel production; LPG shortages and logistics disruptions raise costs
The West Asia crisis and LPG shortages in India are affecting the domestic stainless steel industry, forcing companies to cut production and brace for higher costs. Manufacturers rely heavily on LPG and natural gas for key processes, and fuel constraints have led some plants to operate at reduced capacity.