Adani Port sees 11% growth in cargo volumes in January

Adani Port on Friday released the operational performance update in an exchange filing. The company saw a jump of 11 per cent growth in January cargo volumes, with 27.6 MMT of total cargo handled.

The company From April 2022 to January 2023, we managed a total of 280.5 MMT of cargo volumes, showing an 8.8 per cent year-on-year growth.

Shares of Adani Port

The shares of Adani Port on Friday at 10:45 am was at Rs 399.35, down by 13.27 per cent.

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Adani Port acquisition

Adani Port on February 1, completed the acquisition of 49.38 per cent shares in Indian Oiltanking and it has also completed the acquisition of Israel's biggest port in Haifa port.

Adani vs Hindenburg

The shares of Adani port have been falling after US based Hindenburg Research released a report accusing Adani Group of stock manipulation. After the release of the report Adanni group has been in a tug of war with the short seller but this has not helped the company as most of the company shares have been in the negative.