The economic corridor will see the setting-up of rail and port links between the Middle East, South Asia, and Europe which US President Joe Biden described as a "real big deal" in the just concluded G20 summit. The announcement was among the key takeaways from a three-day-long diplomatic exercise and was announced by the leaders of the United States, India, and Saudi Arabia.
According to one of the persons, a formal announcement is expected in the next three-four days. The firm was reappointed statutory auditor last year for a five-year period, according to the company s annual report for FY22.
Shares of Adani Ports and Special Economic Zone (ASPEZ) dropped 2% on Wednesday. Analysts see up to 42% upside in the stock. Watch this Visual Story to see if you should buy the Adani Group stock.
Adani Ports share price: In January this year, Hindenburg alleged stock manipulation and accounting fraud by the Gautam Adani-led conglomerate. Adani, however, denied all the claims. Adani Ports' stock closed at Rs 760.85 on January 24 this year.