kraghuveera Posted August 22, 2019 Share Posted August 22, 2019 Adani acquires 72 % stake in port. Next sricity ?? Link to comment Share on other sites More sharing options...
hari2999 Posted August 22, 2019 Share Posted August 22, 2019 adi navayuga valle icharu indullo anta tension padalisina pani emi ledu Link to comment Share on other sites More sharing options...
kraghuveera Posted August 22, 2019 Author Share Posted August 22, 2019 Why would anybody sell majority stake in a highly profitable venture?? Link to comment Share on other sites More sharing options...
sagar_tdp Posted August 22, 2019 Share Posted August 22, 2019 1 hour ago, kraghuveera said: Why would anybody sell majority stake in a highly profitable venture?? because ee state govt vellani torture pedutharu adhani dhaggara vella natakalu kudharavu Link to comment Share on other sites More sharing options...
Kumbk Posted August 22, 2019 Share Posted August 22, 2019 Good strategic move. Navayuga is getting asset light in AP. Ee Jagan CM ga vunnantha varaku, AP lo heavy assets unna local contractors ki ibbandhe, unless they are also politicians and in ruling party either in center or state. Link to comment Share on other sites More sharing options...
Seniorfan Posted August 22, 2019 Share Posted August 22, 2019 sricity lo major share srini raju and sanna reddy. so daanni touch cheyaru le....... vallu etu YSR fans.... Link to comment Share on other sites More sharing options...
NatuGadu Posted August 22, 2019 Share Posted August 22, 2019 13 minutes ago, Seniorfan said: sricity lo major share srini raju and sanna reddy. so daanni touch cheyaru le....... vallu etu YSR fans.... Plus bjp lo joined Link to comment Share on other sites More sharing options...
ravindras Posted August 23, 2019 Share Posted August 23, 2019 don't think too much. krishnapatnam port is in deep debts due to lack of enough demand . they expanded much ahead of demand. management was looking for strategic investor. do you think paying 5500 crores for 72% is very less? https://www.thehindubusinessline.com/economy/logistics/adani-to-buy-70-stake-in-krishnapatnam-port-for-over-5500-crore/article29131577.ece Link to comment Share on other sites More sharing options...
bunty27 Posted August 23, 2019 Share Posted August 23, 2019 4 hours ago, ravindras said: don't think too much. krishnapatnam port is in deep debts due to lack of enough demand . they expanded much ahead of demand. management was looking for strategic investor. do you think paying 5500 crores for 72% is very less? https://www.thehindubusinessline.com/economy/logistics/adani-to-buy-70-stake-in-krishnapatnam-port-for-over-5500-crore/article29131577.ece 100% True. the remaining share is holded by Chinta Sasidhar the present MD of KP Port. No politics in this .... they have expanded 5 times in Equipment and Port assets which is higher than current demand and over estimating potential of Cargo movement They also floated their own subsidiary CHA (Custom House Agent) and Freight Forwarding (Container Brokerage) firms which made the existing players upset, and when ever there is a New customer cargo coming through other agents ... the very next day this sister concern approaches them with a lesser quote. Port did this to secure the cargo movement 365 days through their port but, in market it dint go well with other players. So no proper Shipping Industry has moved or expanded their base to KP Port. In addition to this the Manufacturing slow down led to severe drop in Bulk cargo's (Which is the Major revenue) And on Top of this Receipts VS payments were in no match and Debts were too high So its a good deal for them Link to comment Share on other sites More sharing options...
bunty27 Posted August 23, 2019 Share Posted August 23, 2019 21 hours ago, Kumbk said: Good strategic move. Navayuga is getting asset light in AP. Ee Jagan CM ga vunnantha varaku, AP lo heavy assets unna local contractors ki ibbandhe, unless they are also politicians and in ruling party either in center or state. Politics are not as clear and fair as we see and read 😅 Jagan sir and Chintha Sasidhar (KP Port MD) are thick friends and classmates with whom Akhilesh Yadav (EX UP CM) is too a friend (Navayuga does projects and Navayuga infotech is there in UP and other North eastern states) So, they did this by will as KP Port is not viable business. B by location itself is just 120 KM distance to chennai. This they thought is their advantage for diverting all coastal AP cargo to their port instead of going to chennai (Which is heavy congestion at port and Traffic). The actual thing is that in shipping Industry for any exporter or Importer in land transportation is by n large same. They need more no of vessels (Ships) at equal intervals of time and cheaper ocean freight to destination country. This is not in Port control. My personal experience in Shipping Industry and observation is that this is a Fair business deal. Link to comment Share on other sites More sharing options...
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