Adani Ports and Special Economic Zone, Navayuga Engineering Company and Bothra Shipping Services consortium also competed for the commercial port development project.
Adani Ports and Special Economic Zone (APSEZ) reported a 13.48 per cent drop in standalone net profit for the quarter ended September 30, 2016. Its net profit stood at Rs 916.67 crore in Q2FY17 as against Rs 1,059.51 crore in the corresponding quarter of the previous financial year.
The 12 per cent fall in Adani Ports and Special Economic ZoneÂ´s stock is the firmÂ´s single largest decline in the past two years. It came on the back of research houses like Citigroup downgrading the stock from Â´buyÂ´ to Â´neutralÂ´ following a sharp increase in net debt, loans and advances.
In a decision that will allow IT-major Wipro Technologies to expand its IT or ITES Special Economic Zone at Salt Lake, Kolkata, the government has agreed to waive the contiguity or continuity norm permitting the company to include another patch of land that is not attached to the existing zone.