Adani Ports share price surges to all-time high; stock jumps 8%1 min read . Updated: 06 Apr 2021, 12:05 PM IST
- The company's March cargo volume grew 41% on a yearly basis to 26 mmt in March and grew 23% on a monthly basis.
Adani Ports share price leaped 8.5% on Tuesday to an all-time high at ₹805 per share on the BSE. The company's March cargo volume grew 41% on a yearly basis to 26 mmt and grew 23% on a monthly basis, Adani Ports and Special Economic Zone (APSEZ) informed in an exchange filing. In Q4FY21, it handled cargo volume of 73 MMT, registering a growth of 27% year-on-year (YoY).
In the container segment, APSEZ handled 7.22 Mn TEU’s in FY21 registering a growth of 16 % on Year on Year basis. Market share of Adani Ports in container has increased to 41% of All India container volume in FY21, it said.
Mundra Port ended the year with a record cargo volume of 144. 4 mmt a growth of 4% YoY and continues to be the largest port of the country. The gap between 1st largest port in India i.e. Mundra and 2nd largest port in India i.e. Kandla is now more than 24 % (28 mmt).
''In FY21, APSEZ operated more than 5,000 rake movements across various ports and hinterland of India. Further, our Ports and Logistics business generated ₹5,900 crore as freight revenue for Indian railways'', the company added.
Adani Ports on Monday had signed an agreement with Vishwa Samudra Holdings Pvt. Ltd., to acquire remaining 25% stake of Krishnapatnam Port for ₹2,800 crore. The company already held 75% in the port. Adani Ports has done four acquisitions in the last five months with a combined value of ₹18000 crore.
The Adani Group became India's third conglomerate on Tuesday to cross $100 billion in market capitalisation with shares of four of its six listed companies soaring to an all-time high.