Adani Ports and Special Economic Zone advanced 2.49% to Rs 1,443 after the firm informed that it signed a memorandum of understanding (MOU) with Rorix holdings to revolutionize the commodities market ecosystem.
This strategic partnership aims to leverage the strengths of both organizations to integrate advanced technologies into their logistics and trading platforms and create synergies that will transform the commodities market ecosystem.
Rorix Holdings, a subsidiary of International Holding Company / Sirius International Holding, is dedicated to revolutionizing trade finance, consulting, commodities exchange, and trade insurance sectors.
Dr. Thani bin Ahmed Al Zeyoudi, executive chairman of Rorix Holdings, stated, Our partnership with Adani Ports will create an innovative and efficient commodities market ecosystem. By combining our expertise in regulated financial platforms and market infrastructure with Adani Ports’ strength in logistics and port management, we aim to revolutionize the way commodities are traded, stored, and managed.
Karan Adani, managing director of APSEZ said, This partnership represents a unique opportunity to transform the commodities trade landscape. By leveraging next-generation technologies and combining our expertise, we aim to redefine how commodities markets operate. The collaboration between Rorix and Adani Ports is a significant step towards our ambition to become one of the largest integrated transport and logistics infrastructure companies globally, providing comprehensive end-to-end services.
Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.
The companys consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% rise in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24.
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First Published: Sep 20 2024 | 4:02 PM IST
