Adani Ports SEZ climbs 2% on the incorporation of new wholly-owned subsidiary 'Aqua Desilting'

Aqua Desilting is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on February 19, 2021.

Feb 22, 2021 12:02 IST India Infoline News Service

Adani Ports and Special Economic Zone
Adani Ports SEZ has incorporated a wholly-owned subsidiary company “Aqua Desilting Private Limited”. Led by the incorporation of a new subsidiary, Adabi Ports stock were trading on a bullish note on Monday.

Last week, in its regulatory filing, Adani Ports said, "The Company has incorporated as a wholly-owned subsidiary of the Company for carrying out the business of dredging/desiltation and sale/disposal of such desilted material from sea, river, dams, other water bodies etc."

Aqua Desilting belongs to dredging/desiltation and sale/disposal of such desilted material from the sea, river, dams, other water bodies etc and is yet to commence its business operations.

Adani Ports hold a 100% stake in Aqua Desilting.

Aqua Desilting is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on February 19, 2021.

At around 12.02 pm, Adani Ports perform at Rs666.95 per piece up Rs14.45 or 2.21% on Sensex. The stock has touched an intraday high of Rs671.70 per piece in early deals of Sensex. 

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