Adani Ports and SEZ, which is the cash cow of Adani Group, has given close to Rs 6240 crore of loans to the subsidiaries and group companies in fiscal 2018. Last fiscal the company recorded an impairment of close to Rs 300 crore related to such loans. Investors have also expressed their apprehensions about promoters pledging of shares which last stood close to 45.51percent.

All these assumes importance, in this light of the acquisition of a group company Adani Agri Logistics for a consideration of nearly Rs 1000 crore. This is also reflected in its share price, which closed with a loss of over 8 percent on the day after announcement of the acquisition.

Sakshi Batra does a 3 point analysis.