Adani Ports' share at an all-time high up by 9% after growth in cargo volumes
Adani Ports' share at an all-time high up by 9% after growth in cargo volumes
Mundra Port

The largest private port operator Adani Ports & Special Economic Zone (APSEZ) reported a growth of 41 per cent on year on year basis and 23 per cent on month on month basis for cargo volume in the month of March 2021.

The news on performance pushed the share price of the company further which was already trading in green due to various acquisition the company made in the last two weeks.

After the performance update, the shares touched an all-time high. At 12.17 pm, the share of the company was trading at Rs 811.60 per piece, up by Rs 69.45 or 9.36 per cent during the day.

The west coast ports of APSEZ (Mundra and Hazira) handled 6.32 million TEU’s of container volume in FY21. The market share of western ports of APSEZ in the container has increased to 48 per cent in FY21.

The port operator stated it handled cargo volume of 73 MMT in Q4 FY21 registering a growth of 27 per cent on year on year basis. In addition, APSEZ handled cargo volume of 247 MMT in FY21 registering a growth of 11 per cent on year on year basis.

The container segment of APSEZ handled 7.22 million TEU’s in FY21 registering a growth of 16 per cent in year on year basis. The market share of APSEZ in the container has increased to 41 per cent of all India container volume in FY21.

The gap of cargo volume between the first largest port in India, Mundra and the second largest port in India, Kandla is now more than 24 per cent (28 MMT), APSEZ stated. Mundra Port ended the year with a record cargo volume of 144. 4 MMT a growth of 4 per cent year on year basis.

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