Adani Ports’ share price leaped 8.5 per cent on Tuesday to an all-time high at Rs 805 per share on the BSE. The company’s March cargo volume grew 41 per cent on a yearly basis to 26 mmt and grew 23 per cent on a monthly basis, Adani Ports and Special Economic Zone (APSEZ) informed in an exchange filing. In Q4 FY21, it handled cargo volume of 73 MMT, registering a growth of 27 per cent year-on-year (YoY).
In the container segment, APSEZ handled 7.22 Mn TEU’s in FY21 registering a growth of 16 per cent on Year on Year basis. Market share of Adani Ports in container has increased to 41 per cent of All India container volume in FY21, it said.
Mundra Port ended the year with a record cargo volume of 144. 4 mmt a growth of 4 per cent YoY and continues to be the largest port of the country. The gap between 1st largest port in India i.e. Mundra and 2nd largest port in India i.e. Kandla is now more than 24 per cent (28 mmt).
”In FY21, APSEZ operated more than 5,000 rake movements across various ports and hinterland of India. Further, our Ports and Logistics business generated Rs 5,900 crore as freight revenue for Indian railways”, the company added.
Adani Ports on Monday had signed an agreement with Vishwa Samudra Holdings Pvt. Ltd, to acquire remaining 25 per cent stake of Krishnapatnam Port for Rs 2,800 crore. The company already held 75 per cent in the port. Adani Ports has done four acquisitions in the last five months with a combined value of Rs 18000 crore. The Adani Group became India’s third conglomerate on Tuesday to cross $100 billion in market capitalisation with shares of four of its six listed companies soaring to an all-time high.