Adani Ports crosses 300 MMT of cargo handling in just 329 days!
The company beats its milestone from last year of 354 days.
Crossing cargo handling milestone
Adani Ports and Special Economic Zone (APSEZ) has reached crossed 300 MMT of cargo handling in 329 days, beating its previous record of 354 days, on February 23, 2023. Since its inception over two decades ago, APSEZ has had remarkable success and continues to surpass overall cargo volume growth in India, with its market share constantly increasing.
An increase in cargo volume handled at ports is a sign that the nation’s economy is picking up. Maritime transport accounts for nearly 95% of all trade volumes in India. As a result, having world-class mega ports is critical for the Indian coastline.
APSEZ has strategically built a string of ports (pearls) across India's coastline, along with ICDs (inland container depots) and warehouses, intricately woven with self-owned rakes, covering more than 70% of the hinterland, through concession agreements with various government authorities.
APSEZ has expanded its business operations while also meeting its sustainability commitments. Energy and emission intensity have been reduced by approximately 41%, and water intensity has been reduced by 56%, compared to 2016 levels. In 9MFY23, the renewable share of electricity was around 13%. APSEZ is getting closer to its goal of becoming carbon neutral by 2025 with its plan to install 250 MW of captive renewable capacity.
Stock price movement
Today the scrip opened at Rs 556.10 and has touched a high and low of Rs 571.95 and Rs 556.10 respectively. The BSE group 'A' stock of face value of Rs 2 has touched a 52-week high and low of Rs 987.90 and Rs 394.95, respectively. Last one week high and low of the scrip stood at Rs 593.85 and Rs 533.65 respectively. The current market cap of the company is Rs 1,21,270.20 crore.
The promoters holding in the company stood at 65.13%, while Institutions and Non-Institutions held 28.25% and 6.62% respectively.
Adani Ports and Special Economic Zone, a part of the globally diversified Adani Group, is the largest integrated logistics player in India.
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