The 12 per cent fall in Adani Ports and Special Economic ZoneĆĀ“s stock is the firmĆĀ“s single largest decline in the past two years. It came on the back of research houses like Citigroup downgrading the stock from ĆĀ“buyĆĀ“ to ĆĀ“neutralĆĀ“ following a sharp increase in net debt, loans and advances.
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Gas Authority of India to buy 25 LNG cargoes
Gas transmission firm Gas Authority of India (GAIL) aims to buy 25 spot cargoes of liquefied natural gas (LNG) in 2013, up from 16-17 this year, the firm's Chairman, BC Tripathi, said on last week. GAIL will get the first cargo to start its Dabhol LNG terminal from Gazprom this month, Tripathi told the media on the sidelines of an energy conference.