Adani Ports Stock Price Jumps Over 5% Higher After Company Records 42% YoY Growth In Nov Cargo Volumes

Adani Ports Share Price Update: Adani Ports shares traded 5.49% higher at Rs 872.95 per share at 11:34 am IST amidst positive trading on Dalal Street on Monday where the two benchmark indices Sensex and Nifty touched their new record highs in the early trade.

Today, the share price of Adani Ports And Special Economic Zone grabbed attention after in a business update, the company informed that APSEZ recorded 42% YoY growth in Nov '23 cargo volumes and AICTPL becomes the first terminal in India to handle over 3,00,000 containers in a month.

The company said that growth was witnessed across all three broad cargo categories - dry bulk (over 60% Y-o-Y), containers (over 26%), and liquids and gas (over 23%).

According to the company, Adani International Container Terminal Private Limited (AICTPL) created a national record by handling 3,00,431 TEUs across 97 vessels in November 2023, breaking its own record of 2,98,634 TEUs in March 2021, by handling approximately 10,000 TEUs every day

Two other ports of APSEZ, Dhamra, and Ennore, also recorded their highest-ever monthly volumes, handling 3.96 MMT and 65,658 TEUs respectively.

The company said, "AICTPL, the joint venture terminal at the Adani Ports and Special Economic Zone in Mundra, achieved a momentous milestone by successfully handling over 3,00,000 containers in the month of November. This remarkable accomplishment is not only a significant achievement for APSEZ but also marks a historic event in the annals of Indian maritime history."

Logistics volumes continue to witness record growth with year-to-date (YTD) rail volumes of around 379,000 TEUs (over 23% YoY) and GPWIS (general purpose wagon investment scheme) volumes of 12.3 MMT (over 44% YoY). The highest-ever monthly GPWIS volumes were recorded in November 2023 at 1.72 MMT.

Adani Ports and Special Economic Zone Limited (APSEZ) is India's largest port developer and operator with six strategically located ports and terminals on the west coast of India (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra) and five ports and terminals on the east coast (Dhamra in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Tamil Nadu).

Almost all Adani group stocks traded higher on Monday. Today, the share price of all Adani group companies including Adani Enterprises, Adani Ports, Adani Power, Adani Green Energy, Adani Energy Solutions, ACC, Adani Total Gas, NDTV, and Ambuja traded in the green.

With today's surge in the share price of Adani group companies, the overall market capitalization of the group has crossed the Rs 12 lakh crore mark.