iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

IOT acquisition deal to help Adani Group to foray into oil exports

26 Mar 2024 , 03:14 PM

Adani Ports and Special Economic Zone

Adani Ports and Special Economic Zone’s (APSEZ) acquisition of a 49% stake in Indian Oiltanking last week will help the Adani Group to expand the Adani arm’s storage and transportation capacities for petroleum products and possibly set the platform to foray into oil exports, through the joint venture company.

Adani Ports CEO and Whole Time Director Karan Adani said that with this acquisition, the company’s oil storage capacity jumps 200% to 3.6 million kilolitres, making it India’s largest third-party liquid storage entity. “This step will help the company with their intention of becoming the largest transport utility globally,” he said.
“This acquisition is also well aligned with our strategy of diversifying the cargo mix with focus on products and services having higher realization and margins. The stake deal will further strengthen our strategic partnership with IOCL which is the India’s largest refiner and customer of oil storage tanks,” Adani said.
According to the media statement, the IOTL is on a growth spree given the expanding demand for oil products in the country. The company recently signed a 25-year BOOT agreement with Numaligarh Refinery Ltd for the construction, operation, and maintenance of 0.6 million kilolitres of crude storage tanks at the Paradip Port.
Besides, the company is also negotiating on various other major projects, both at existing facilities and new locations.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • acquisition
  • Adani Ports & Special Economic Zone
  • Adani Ports & Special Economic Zone Limited
  • Adani Ports & Special Economic Zone Ltd
  • Adani Ports & Special Economic Zone Ltd acquisition
  • Adani Ports & Special Economic Zone Ltd launch
  • Adani Ports & Special Economic Zone Ltd news
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.