Shipping & Shipyard Sector

The Vizhinjam port has been a dream project of successive governments.

Prime Minister Netanyahu called the Haifa port deal with the Adani Group an "enormous milestone".

The agreement also underlined the acquisition of an additional 10% stake in IOTL Utkal Energy Services.

The port's concession period runs until 2054.

The contract value is USD 77,963.78.

Vagir, was launched on November 12, 2020 and for more than a year, has undergone a very comprehensive and rigorous set of tests and trials.

Data Source: Office of the Economic Advisor The negative causal relationship between rate hikes and fall in WPI inflation appears to be working perfectly. Consider this causality. Between May 2022 and November 2022, the RBI hiked repo rates by 225 basis points from 4.00% to 6.25. During the same period, WPI inflation fell 1,078 bps from 16.63% to 5.85%. That is because rate hikes hit the manufacturing sector first but take time to trickle down to the retail level. The Monetary Policy Committee (MPC) of the RBI should take solace from the fact that the WPI inflation has reacted sharply to the rate hikes. Clearly, with the CPI inflation being a lag indicator, it should follow suit. In May 2022, WPI inflation had touched a 31-year high of 16.63%. WPI inflation had actually become a lot steeper in 2022 due to the Ukraine war, impact of Russia sanctions, China’s zero-COVID lockdowns and global central bank hawkishness; apart from high inflation and pressure on cost of funds

This is in furtherance of the company’s announcement dated June 28, 2021, wherein the company stated that it was always evaluating relevant prospects for both organic and inorganic expansions.