Adani Ports and Special Economic Zone Ltd is close to acquiring the Krishnapatnam port in Andhra Pradesh, reported CNBC TV18. As of September 2019, Adani Ports’ net debt-to-earnings before interest tax depreciation and amortization (Ebitda) stood at three times. Adani Ports has also expressed interest in acquiring a controlling stake in public sector firm, Container Corp. of India Ltd (Concor). This leaves Adani Ports with more cash for investments and it is predictably using it for growth. The new ports will deepen Adani Ports’ competitive advantage helping it gain market share.

Source: Mint January 02, 2020 01:41 UTC