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    HomeNewsOpinionPimco's unwillingness to invest in Adani to have no impact 

    Pimco's unwillingness to invest in Adani to have no impact 

    Fund houses are shying away from investing in companies that they think add to global warming. 

    Shishir Asthana
    March 24, 2021 / 09:00 IST
    Adani Ports and Special Economic Zone | India’s largest private Ports & Logistics company Adani Ports is going to develop the west container terminal (WCT) of Colombo Port in Sri Lanka. "Adani Ports has received a letter of intent (LOI) from the Ministry of Ports and Shipping of Sri Lanka and the Sri Lanka Ports Authority, acting on behalf of the Government of Sri Lanka, for the development and operations of west container terminal (WCT) in Colombo, Sri Lanka," the company said in its BSE filing. Adani Ports will partner with Sri Lanka's largest diversified conglomerate John Keells Holdings PLC and with the Sri Lanka Ports Authority (SLPA) as a part of the consortium awarded this mandate, the company added. "The WCT will be developed on a build, operate and transfer basis for a period of 35 years as a public-private partnership. WCT will have a quay length of 1,400 meters and alongside depth of 20 meters, thereby making it a prime transshipment cargo destination to handle ultra large container carriers," Adani Ports said. The stock closed 1.11 percent lower at Rs 719 on March 15. It hit a 52-week high of Rs 768.40 on March 8, 2021, and a low of Rs 203.40 on March 23, 2020. The market-cap of the company stands at Rs 1.46 lakh crore. In terms of technical, the current rating by Moneycontrol on the stock is very bullish. The important support levels for the stock are placed at Rs 723.30-716.43, while resistance is placed at Rs 745.53-752.40, data from Moneycontrol.com showed.
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