niftify.in

The Economic Times

'Government run ports' cargo handling capacity will double in 5 years': Sarbananda Sonowal

India's central government-controlled ports will nearly double their container handling capacity to 40 million TEUs in the next five years, creating two million jobs. Shipbuilding and repair hubs will be established in several states, supported by a new Greenfield Shipyard Building scheme. Hydrogen manufacturing hubs are also planned, attracting significant investment.

Business Standard

Ship-building clusters to come up in 5 states, says Sarbananda Sonowal

Ship-building and ship repair clusters will be established in five states including Gujarat, Andhra Pradesh and Maharashtra, Union Minister for Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal said on Wednesday. Recognizing the strategic importance of shipbuilding and ship repair, the ministry is developing dedicated clusters in Maharashtra, Kerala, Andhra Pradesh, Odisha, and Gujarat, Sonowal said while highlighting the major accomplishments of his ministry in the first 100 days of the third term of the NDA government. In the next five years, the ministry projects container handling to reach an impressive 40 million TEUs (twenty-foot equivalent unit), creating 2 million job opportunities across the country. Jawaharlal Nehru Port Authority (JNPA) alone will scale up its handling capacity from the current 6.6 million TEUs to 10 million, he added. The minister also said that 3,900 acres of land has been allotted in Deendayal Port Authority (DPA) and V. O. Chidambaranar Port ..

Business Line

Tech Query: What is the outlook for Container Corporation of India (Concor), ACC and Happiest Minds Technologies?

We zoom in on the prospects of Container Corporation of India (Concor), as also the prospects of two other stocks — ACC and Happiest Minds Technologies

The Economic Times

UBS sells shares worth Rs 480 crore in Concord Biotech, IIFL Securities, 2 more stocks via block deals

UBS sold holdings in Concord Biotech, Five Star Business Finance, IIFL Securities, and Marksans Pharma through block deals, totaling Rs 480 crore. The largest sale was in Concord Biotech, worth Rs 192 crore at a 15% premium.

Business Standard

Cutting port charges, buying vessels to help boost export ambitions: CII

The government's measures such as cutting certain port charges and purchasing additional container vessels by Shipping Corp will help boost export competitiveness, Chairman of the CII national committee on EXIM Sanjay Budhia said on Friday. He said that these initiatives will significantly benefit the Indian industry by easing export operations. "This move will reduce logistical bottlenecks, enhance cost efficiency for exporters, and improve the competitiveness of Indian goods in global markets," Budhia, who is also Managing Director of Patton Group, said. Industries will experience smoother trade flows, shorter delivery times, and lower costs, fostering growth in exports and making Indian products more attractive to international buyers, he added. The measures will also significantly improve export competitiveness by decreasing the overall costs involved in shipping goods and will help make Indian exports more competitively priced in international markets, Budhia said. "It would

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Sobha (PP), Marksans Pharma, Concord Biotech Ltd., Interarch Building and Themis Medicare, hit their fresh 52-week highs during the day.

Mint

Deccan Transcon Leasing IPO allotment finalised: Latest GMP and how to check status

Deccan Transcon Leasing's IPO, valued at ₹65.06 crore, closed with 102.60 times subscription. Allotment status can be checked online, with shares credited to accounts on September 23. The company specializes in tank container leasing and reported a revenue decline but a profit increase for FY24.

The Economic Times

Decreased oil exports, because of lower crude prices increasing India's trade deficit: CRISIL

India's oil exports have been impacted by falling crude oil prices, leading to a contraction in overall exports in August. CRISIL reports that container shortages and US tariff hikes on Chinese goods are contributing factors. Despite these challenges, strong remittance inflows and a services trade surplus offer some stability.

The Economic Times

Easing exports: India to buy more second-hand vessels to raise container capacity, cut port charges

India will reduce port charges and purchase five second-hand container vessels to boost exports and address shipping issues. These measures aim to lower shipping costs, improve container availability, expedite export consignments, and reduce port congestion. Commerce Minister Piyush Goyal announced these steps following a meeting with various stakeholders.

The Economic Times

India to buy more second-hand vessels to raise container capacity, official says

India plans to purchase more second-hand vessels to boost container shipping capacity, aiming to cut transportation costs and increase exports. Talks with multiple ministries followed a decline in Indian goods exports. The move is expected to reduce export time and raise container capacity by 10% to 12%, according to officials.

The Economic Times

Tupperware Brands files for bankruptcy

Tupperware Brands and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, the food container firm said in a statement. "Over the last several years, the Company's financial position has been severely impacted by the challenging macroeconomic environment," president and CEO Laurie Ann Goldman said in a statement announcing the bankruptcy filing.

Business Standard

Dividend dash! NMDC, Container Corp, Dixon Tech, 47 others go ex-date today

A dividend is a portion of a company's profit distributed to its shareholders, usually quarterly or annually, as a reward for investing in the company. Here is the full list of stocks that will trade

The Economic Times

CONCOR among 32 stocks to trade ex-dividend tomorrow; last chance to buy

State-owned Container Corporation of India (CONCOR) and 31 other companies have set September 18 as the record date for determining shareholders' eligibility for dividend payments. Today is the last day to buy shares to qualify for dividends. CONCOR announced a final dividend of Rs 2.50 per share, with a total dividend yield of 1.16% over the past year.

The Economic Times

Great Eastern plans to enter container shipping sector

The Great Eastern Shipping Company, India's largest private ocean carrier, is considering entering the container shipping sector. This move could help mitigate risks associated with oil trade as the world shifts towards green energy. The company prefers to invest countercyclically and may enter the market when it is weaker.

The Economic Times

Tuticorin Intl container terminal dedicated to nation; to reduce logistics costs, save forex

The Tuticorin International Container Terminal was inaugurated by Union Minister Sarbananda Sonowal, enhancing VOC Port's capacity. Prime Minister Modi highlighted its deep draft and significant berth length. The terminal aims to reduce logistics costs, save foreign exchange, and promote gender diversity with 40% female employees. Multiple development projects were also launched.

The Economic Times

Delhivery partners with Teamglobal Logistics for ocean freight services

Logistics operator Delhivery has partnered with Teamglobal Logistics to enhance ocean freight services, targeting both inbound and outbound logistics. This collaboration expands Delhivery's reach to over 120 countries for its Less than Container Load service and integrates inland Part Truckload shipping within India, benefiting businesses with a seamless cargo transportation solution.

Business Standard

Increasing freight costs, container shortages threaten exports: GTRI

Increasing freight costs, shortage of containers and dependence on major shipping hubs and foreign carriers pose serious challenges to the country's exports, think tank GTRI said on Sunday. To address these challenges, the Global Trade Research Initiative (GTRI) recommended that India implement several strategies to boost domestic container production, enhance the role of local shipping companies, promote use of domestic containers, and strengthen local shipping firms. "India can lower its risk of global supply chain disruptions by boosting domestic container production, encouraging the use of locally made containers, and increasing the use of Indian shipping companies for transporting goods," GTRI Founder Ajay Srivastava said. Between 2022 and 2024, shipping rates for a 40-foot container have fluctuated significantly. It said that in 2022, the average cost was USD 4,942 due to the lingering effects of the covid pandemic, while by 2024, the rate had stabilized around USD 4,775, it

Mint

Dividend Stocks: Kirloskar Industries, Mazagon Dock, NALCO among others to trade ex-dividend next week; Full list here

Dividend Stocks: Several companies, including Edelweiss Financial Services, Container Corporation of India, and Dixon Technologies (India), among others, are trading ex-dividend in the coming week.

Mint

Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 13

Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — SAIL, IOC, and Container Corporation of India

The Economic Times

India faces container shortage over higher tariffs by US on Chinese goods

The rush to avoid higher US tariffs on Chinese goods has led to a container shortage in India, as empty containers are being shipped to China. This has impacted India's trade numbers for August and September. However, officials expect the situation to improve in the coming months, aiding Indian exports.

The Economic Times

Shree Tirupati Balajee shares list below expectations. What investors should do

Shree Tirupati Balajee Share Price: Shree Tirupati Balajee's stock listed at an 11% premium, slightly below expectations, but is trading 17% higher on its debut. Analysts had anticipated a premium of 20-30%. The FIBC (flexible intermediate bulk container) market is expected to grow significantly, fueled by rising demand across various sectors and the expanding e-commerce industry.

Business Standard

APSEZ, DPA to develop multipurpose berth at Gujarat's Kandla Port

Adani Ports and Special Economic Zone (APSEZ) on Wednesday said it has signed a concession agreement with DPA to develop Berth No 13 at Deendayal Port, Kandla, Gujarat. APSEZ has incorporated a wholly-owned subsidiary, DPA Container and Clean Cargo Terminal Limited (DPACCCTL), that will carry out operations at the berth, it said in a statement. Berth will handle multipurpose cargo and is expected to be commissioned in FY27. In July 2024, APSEZ had received the LOI for the development, operation and maintenance of the berth for a 30-year concession period. According to the statement, APSEZ will develop the berth under DBFOT (Design, Build, Finance, Operate, and Transfer) model for multipurpose clean cargo, including container cargo. Berth No. 13 is 300 metres long and offers 5.7 MMT capacity annually. It is likely to be commissioned in FY27. APSEZ CEO and whole-time director Ashwani Gupta said, "Berth No. 13 will diversify our presence at Deendayal Port. We will now handle multipu

Business Standard

JNPA records highest ever monthly container traffic in Aug as exports surge

The port surpassed the previous highest of 603,217 TEUs handled in July 2024

Business Standard

Concor to resume coastal cargo transport, enhance last-mile connectivity

Concor had initially launched coastal shipping services in January 2019 but the services were halted in 2020 due to the Covid-19 outbreak

CNBC TV18

Adani Ports handles 5% more cargo in August than last year at 36.1 million metric tonne

Adani Ports Share Price | For the first five months (April-August) of the current financial year FY25, the company recorded a total cargo volume of 182.4 MMT, a 7% increase compared to the same period in the year-ago period. This growth was primarily driven by a 17% increase in container volumes and a 7% rise in liquids and gas cargo.

The Economic Times

PM Modi lays foundation stone for Vadhavan Port project worth over Rs 76,000

Prime Minister Narendra Modi laid the foundation stone for the Vadhavan Port project in Maharashtra, set to become one of India's largest deep-water ports. The port, costing Rs 76,220 crore, aims to boost India's maritime infrastructure, featuring container terminals, multipurpose berths, and excellent connectivity, enhancing trade and industrial development.

The Economic Times

Kolkata port announces launch of cargo services between Haldia and UAE

The Syama Prasad Mookerjee Port in Kolkata has launched the Bengal Middle East Express, a new container service linking Haldia Dock Complex with Jebel Ali Port in the UAE. This service aims to improve transit time and cost efficiency for regional traders by bypassing traditional transshipment ports.

Business Standard

Volumes jump at Concord Biotech Ltd counter

Concord Biotech Ltd clocked volume of 19.99 lakh shares by 14:14 IST on NSE, a 33.61 times surge over two-week average daily volume of 59477 shares

CNBC TV18

DEE Development Engineers wins ₹26 crore order from L&T Energy Hydrocarbon

The contract is associated with L&T's Module Fabrication Facility (MFFK) in Kattupalli, Tamil Nadu.  The MFFK is part of L&T’s sprawling 1,200-acre marine complex which lies in a Special Economic Zone and includes a shipbuilding and ship-repair yard as well as a port and freight container station.

Business Standard

JN Port to scale up handling capacity to over 10 mn TEUs by April

Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal on Thursday said that the container handling facility at Jawaharlal Nehru Port is being scaled up to 10 million TEUs. Speaking with reporters after reviewing various infrastructure and development projects at the port, the minister also said that the upcoming Vadhvan Port in the Palghar district of Maharashtra would generate 10 lakh jobs in the region. To be built as an all-weather port, the greenfield deep draft mega port will come up at an investment of Rs 76,200 crore. The minister said JNPA soon will have a container handling capacity of around 10 million TEUs. A senior JNPA official said that the container handling capacity currently stands at 7.4 million TEUs, which will go up to 10.4 million TEUs by April next year. Sonowal said that Jawaharlal Nehru Port has become the first 100 per cent landlord port in the country, adding that, "accordingly we are aiming for bigger and bigger ships at this facility."

The Economic Times

JNPA to scale up its container handling capacity to 10 million twenty TEU by April next year

Jawaharlal Nehru Port (JNPA) is set to expand its container handling capacity to 10 million TEUs by April next year, announced Union Minister Sarbananda Sonowal. The port will also develop new liquid cargo berths under a Public-Private Partnership model, increasing its capacity to 11 MMTPA. Recent developments include the signing of MoUs, increased revenue from e-auctions, and the issuance of Letters of Intent to SEZ concessionaires. Additionally, a WhatsApp chatbot for local workforce development was launched, reflecting the port's commitment to improved infrastructure and eco-friendly operations.

Business Standard

Allcargo Logistics Q1 results: Net profit down 97% at Rs 3.36 crore

Allcargo Logistics standalone net profit nosedived 97 per cent to Rs 3.36 crore in the June quarter of the current fiscal. The company's net profit was Rs 198.26 crore in the corresponding period of last year, according to a regulatory filing. Income from operations for the quarter under review, however, rose 46 per cent year-on-year to Rs 526.47 crore from Rs 360.26 crore in Q1 FY24, as per the filing. Global events coupled with high demand across trade lanes during the second quarter of 2024 (calendar year) have led to improved volumes and increased freight rates, the company said. The demand is expected to continue through the peak season until the end of the year, the company said in a statement. The LCL (less-than-container load) volume for the June quarter stood similar to the same quarter last year at 2.25 million CBM (cubic meter) while FCL (full container load) volume stood at 1,56,000 TEUs, up 9 per cent on a y-o-y basis, it said. The company said its contract logistics

Mint

IRFC, RVNL to IRCTC: Is it wise to buy railway stocks after GoI's nod to eight new projects

Stocks to buy: Experts have recommended five shares to buy on Monday — IRFC, RVNL, Railtel, IRCTC, and Concor

Business Standard

Global Distriparks Ltd results: Net profit declines 23% to Rs 49 cr

Logistics operator Global Distriparks Ltd (GDL) on Thursday said its net profit declined 23 per cent to Rs 49 crore during the June quarter over the corresponding quarter of last year. The company had posted a profit of Rs 63.72 crore in the first quarter of FY 24, GDL said. According to the company, total revenue for the quarter under review stood at Rs 357.65 crore, down 4.59 per cent from Rs 374.85 crore in Q1FY24, it said. Revenue from rail vertical dropped 2.86 per cent year-on-year to Rs 289.90 crore while CFS (container freight stations) revenue slipped 11.32 per cent year-on-year at Rs 67.75 crore, the company stated. CFS revenue includes an adjustment of reduction of Rs 8.42 crore on account of a change in accounting method for Q1FY25, the company said. During the June quarter, GDL said, it handled a total container traffic of 171425 TEUs, which was 4.71 per cent lower compared to 170897 TEUs handled in the same quarter of last year. The rail vertical traffic stood at 82

Business Standard

Container Corporation of India Q1 results: Net profit rises 5% to Rs 258 cr

Consolidated net profit rose to Rs 258 crore ($30.7 million) for the quarter ended June 30, from Rs 246 crore a year ago

The Economic Times

Adani eyes port in Vietnam to tap trade opportunities

Billionaire Gautam Adani's company, Adani Ports, plans to build a new port in Da Nang, Vietnam, after receiving initial approval from the Vietnamese government. This project aims to enhance trade infrastructure with container terminals and versatile berths for various cargoes. Adani Ports, already operating in Israel, Sri Lanka, and Tanzania, seeks to boost India's maritime role. With ambitions to increase international operations from 5% to 10% by 2030, they target regions like the Middle East, Southeast Asia, and East Africa for expansion.

The Economic Times

Auto component industry to see moderate growth this fiscal: ICRA

Credit ratings agency ICRA predicts a moderate growth for the auto component industry in the coming quarters due to the Red Sea crisis, higher container rates, and shipping time. The industry is expected to see a year-on-year improvement of around 50 basis-points in FY2025, benefiting from better operating leverage, higher content per vehicle, and value additions. The industry's liquidity position remains comfortable, especially across tier-I players, supported by stable cash flows and earnings. ICRA expects the growth in revenues of the Indian auto component industry to ease to 5-7 per cent this fiscal, from the highs of around 14% in FY 2023-24.

The Economic Times

San Fernando, container ship from China, docks at India's largest transhipment port in Kerala

San Fernando, a 300-meter-long cargo ship, will offload 1,900 containers at VISL on Friday, with Chief Minister Pinarayi Vijayan launching the port's first phase of operations.

The Economic Times

Jawaharlal Nehru Port q1 container traffic up 10.6%

The port had handled 1,526,145 TEUs in the first quarter of 2023-24, Jawaharlal Nehru Port Authority (JNPA) said.

The Economic Times

JSW Infrastructure seals deal; to buy Navkar Corporation

JSW Infra has finalized an agreement to purchase all shares held by the promoters of Mumbai's Navkar Corporation, which operates in the container handling sector, according to a disclosure to the stock exchange. Navkar Corporation offers a range of complementary products to the ports owned and managed by the Sajjan Jindal-group company. JSW Infra will pay Rs. 1,013 crore in cash for the stake acquired from Navkar Corporation's promoters.