Adani Ports achieved a record high share price on Monday following the announcement of a 33% year-on-year increase in cargo volumes for February. The shares of Adani Ports and Special Economic Zone climbed by 1.32% to reach ₹1,356.50 on the BSE.
In February, Adani Ports handled a total cargo volume of 35.4 MMT, marking a significant 33% growth compared to the previous year. Notably, Dhamra Port recorded its highest-ever monthly cargo of 4.22 MMT, according to a regulatory filing by Adani Ports.
For the fiscal year 2023-24 up to February 2024, Adani Ports has already managed to handle 382 MMT of cargo. This achievement puts the company well on track to surpass the 400 MMT milestone by the end of the financial year. The company highlighted that it reached the 350 MMT cargo volume mark at its domestic ports in just 318 days.
The logistics segment of the company also witnessed remarkable growth, with year-to-date rail volumes increasing by 21% year-on-year to approximately 542,000 TEUs (twenty-foot equivalent unit) and GPWIS volumes reaching around 18 MMT, marking a 40% rise year-on-year.
Adani Ports shares have demonstrated strong performance, surging by more than 53% over the past three months and showing a year-to-date increase of over 31%. Over the last year, Adani Ports shares have soared by more than 96%.
As of 10:30 am, Adani Ports shares were trading 0.57% higher at ₹1,346.45 on the BSE.
