Hyderabad: Revanth Reddy took the oath as the chief minister of Telangana post-1.04pm at LB Stadium in Hyderabad, three days after the Congress won a huge mandate to form the government in the newest state of the country. Congress president Mallikarjun Kharge, Parliamentary party chief Sonia Gandhi, and other leaders including Rahul Gandhi, Priyanka Gandhi were present at the swearing-in ceremony. It was also a show of strength for the opposition bloc INDIA which encountered some hiccups as the Congress witnessed a massive drubbing in Chhattisgarh, Madhya Pradesh and Rajasthan.
Following the report, shares of Adani Ports gained during the trading session. At around 12:50 pm, Adani Ports shares were trading 3.01 per cent higher at Rs 1,048.60 apiece.
As per sources quoted in the report, SP Ports Maintenance currently holds a 56 per cent stake in Gopalpur Ports, with the remaining ownership belonging to Orissa Stevedores (OSL).
The ongoing due diligence process is a crucial step in this potential transaction, and if successful, Gopalpur Ports would mark Adani Ports and SEZ’s sixth acquisition of a multi-purpose facility on the eastern coast.
While discussions are underway, it remains uncertain whether a definitive deal will materialise.
While discussions are underway, it remains uncertain whether a definitive deal will materialise.
The report indicates that JSW Infrastructure has also expressed interest in acquiring the Gopalpur port from the Mistry family, offering an enterprise valuation of Rs 3,000 crore. However, differences in valuation expectations have been noted, with the Mistry family reportedly dissatisfied with the proposed offer.