13 Feb 2025

Adani Ports Shares Rise; Subsidiary Forms JV in Qatar

Adani Ports and Special Economic Zone (APSEZ) is currently trading at RS. 1141.65, up by 12.20 points (1.08%) from its previous close of RS. 1129.45 on the BSE.

The stock opened at RS. 1131.10 and recorded a high of RS. 1144.00 and a low of RS. 1130.90. A total of 26,759 shares have been traded so far.

The BSE Group 'A' stock, with a face value of RS. 2, hit its 52-week high of RS. 1607.95 on June 3, 2024, and a 52-week low of RS. 993.85 on November 21, 2024. Over the last week, the stock ranged between RS. 1175.00 and RS. 1097.80. The company's current market capitalization stands at RS. 2,46,309.84 crore.

In terms of shareholding, promoters hold 65.89%, while institutions and non-institutions own 28.14% and 5.96%, respectively.

Meanwhile, Adani Ports’ wholly owned subsidiary, Adani Harbour Services (AHS), has formed a Joint Venture (JV) named Al Annabi Marine Services in Qatar with Sea Horizon Offshore Marine Services and Mr. Jamal A. Rab A M Al Yafei on February 12, 2025. The JV will engage in ship operations and management, with AHS holding a 49% stake.

The authorized and paid-up share capital of the JV consists of 100 ordinary shares of Qatari Riyal 1000 each.

APSEZ remains India's largest commercial ports operator, handling nearly one-fourth of the country's cargo movement.