Adani Ports share price: After announcement of partial buyback of debt securities by the flagship Adani group company, Adani Ports and Special Economic Zone Ltd, on Wednesday, Adani Ports shares today witnessed strong buying interest among the stock market bulls. Adani Ports share price today opened with upside gap and went on to hit intraday high of ₹669.50 on NSE, logging more than 1.50 per cent rise within few minutes of opening bell today.
Speaking on the reason for rise in Adani Ports share price today, Avainash Gorakshkar, Head of Research at Profitmart Securities said, “This upside is news-based as the company has announced its board meeting on Saturday this week where it would consider and approve buyback of its debt securities. The market is expecting improvement in the financials of the company post-buyback of debt securities and hence they have gone bullish on this Adani group stock. But, more clarity would come on Saturday when the company board will take a final call on the matter, like size of buyback, price, etc.”
Adani Ports buyback of debt securities
Adani Ports announced on Wednesday that its board of directors are going to consider and approve buyback of partial debt securities in its upcoming board meeting, which is fixed on 22nd April 2023.
Informing Indian bourses about buyback of debt securities, Adani Ports said, “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we would like to inform you that a meeting of the Board of Directors of Adani Ports and Special Economic Zone Limited is scheduled on Saturday, April 22, 2023, to consider first and a partial buyback of certain of its debt securities, either denominated in INR or USD, in this financial year, subject to market conditions.”
Adani Ports dividend
Last time when Adani Ports traded ex-dividend was on 14th July 2022 when the Adani group share traded ex-dividend for payment of ₹5 per share interim dividend to its shareholders.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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