Shares of Adani Ports and Special Economic Zone (APSEZ) reached a new all-time high on Monday following a surge in cargo volumes reported for February.
The company’s stock price rose by over 1 per cent to Rs 1,356.50 per share on the Bombay Stock Exchange (BSE) in early trade.
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However, Adani Group shares pared gains to trade 0.38 per cent higher at Rs 1,343.85 at around 11:57 am.
In February, Adani Ports and Special Economic Zone handled a total of 35.4 million metric tonnes (MMT) of cargo, marking a 33 per cent increase compared to the same period last year.
Dhamra Port recorded its highest-ever monthly cargo volume of 4.22 MMT, said Adani Ports in a regulatory filing.
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For the first eleven months of the financial year 2023-24 (April 2023 to February 2024), Adani Ports has already handled 382 MMT of cargo. This puts the company on track to surpass the 400 MMT mark before the end of the fiscal year.
Adani Ports celebrated a milestone achievement, surpassing the 350 MMT cargo volume mark at its domestic ports in just 318 days.
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The logistics segment of Adani Ports also continued its growth trajectory, with year-to-date (YTD) rail volumes increasing by 21 per cent year-on-year to around 542,000 TEUs (twenty-foot equivalent unit) and GPWIS volumes rising by 40 per cent YoY to around 18 MMT.
In terms of stock performance, Adani Ports’ shares have surged by more than 67 per cent in the past six months and are up by over 28 per cent year-to-date.
Over the past year, Adani Ports shares have witnessed a remarkable increase of over 94 per cent.
