01 Apr 2024

Adani Ports soars on recording 24% growth in cargo volumes in FY24

Adani Ports and Special Economic Zone is currently trading at Rs. 1365.50, up by 23.80 points or 1.77% from its previous closing of Rs. 1341.70 on the BSE.

The scrip opened at Rs. 1358.00 and has touched a high and low of Rs. 1367.15 and Rs. 1351.05 respectively. So far 26155 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,367.15 on 1-Apr-2024 and a 52 week low of Rs. 622.15 on 3-Apr-2023.

Last one week high and low of the scrip stood at Rs. 1367.15 and Rs. 1281.00 respectively. The current market cap of the company is Rs. 294308.13 crore.

The promoters holding in the company stood at 65.89%, while Institutions and Non-Institutions held 26.73% and 7.38% respectively.

Adani Ports and Special Economic Zone (APSEZ) has handled 420 MMT (+24% Y-o-Y) cargo in FY24 (including international ports), with domestic ports contributing over 408 MMT cargo. It has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024. Ten of company’s ports and terminals handled record cargo volumes: Mundra 180 MMT, Tuna 10 MMT, Hazira 26 MMT, Mormugao 5 MMT, Karaikal 12 MMT, Ennore 13 MMT, Kattupalli 12 MMT, Krishnapatnam 59 MMT, Gangavaram 37 MMT and Dhamra 43 MMT.

During FY24, more than one-fourth of all India cargo volumes was routed through APSEZ ports. This significant contribution by APSEZ underscores its active role in driving India’s growth trajectory. It also shows that India’s largest port operator comfortably surpassed its cargo volume guidance of 370 MMT - 390 MMT provided at the start of the financial year. 

Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.