ADANI PORTS: Shares of Adani Ports and Larsen & Toubro were in focus today on reports that Adani Ports is in talks to buy L&T’s Katupalli Port near Chennai.
L&T had invested Rs 4,000 crore at Katupalli. L&T was earlier in talks with APM Maersk to sell this port, according to media reports.
A possible deal will be beneficial for both L&T and Adani Ports, analysts told NDTV.
However, reacting to this development, shares of Adani Ports fell 3.2 per cent to Rs 322 and Larsen & Toubro’s share prices were down 1.4 per cent at Rs 1,785 as of 12:40 p.m.
