• In FY23 so far, between April and February, the company recorded a cargo volume of 307 MMT -- a growth of 8.5% over the same period last year.
Adani Ports reports 10% year-on-year growth in cargo during February 2023. The company on Thursday announced its operating performance for the same month. Amid the allegations and chaos in the Gautam Adani-backed empire, Adani Ports is one of the few stocks in the group to see buying sentiment.
The Adani Ports stock has been in the green for the last six consecutive days.
According to regulatory filings, Adani Ports reported a total cargo volume of 26.5 MMT in February 2023---a growth of 10%. However, compared to last month's volume, the latest reading is lower by around 3.98%.
In January 2023, Adani Ports handled a cargo of 27.6 MMT.
So far in FY23, between April to February, the company saw cargo volumes of 307 MMT - registering a growth of 8.5% over the same period last year.
On BSE, Adani Ports share price closed 3.50% higher at ₹623.20. The market cap of the company is around ₹1,34,619.86 crore.
In the group, Adani Ports is the second largest company in terms of market share after Adani Enterprises.
The company's stock has been in focus after several block deals. As per reports, the block deal is likely to be done by institutional investors or promoters of the group.
The share price of Adani Ports is in the green since February 23. It has gained about 14% in these six trading sessions.
The Adani group is currently facing a Sebi probe after the top court set up a 6-member committee to examine the regulatory mechanism to protect investors following a report by US-based short seller Hindenburg on huge investor losses. Gave air to The court asked the market watchdog to probe the allegations made by Hindenburg against the Adani group to see if there was any stock manipulation or violation.
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