Investors cheer as Adani Ports cuts related-party loans, steps up dividends
- The reduction in related-party loans is visible in the sizeable drop in working capital during FY19
- With the regulators paving the way for tariff renegotiation at a loss-making plant of group firm Adani Power Ltd, concerns about incremental loans to this entity have further abated
Shares of Adani Ports and Special Economic Zone Ltd have gained momentum in the past year, with the company reducing its financial exposure to group firms through related- party loans. Besides, the company has suggested that capital expenditure (capex) has peaked, which will result in balance-sheet deleveraging and improvement in profitability.
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