Adani Ports’ Strong Performance Drives Shares to All-Time High

Adani Ports and Special Economic Zone Ltd. (APSEZ) had a great month in February 2024. They moved more cargo than ever before, with a 33% increase from the same time last year.  

This success made their shares reach an all-time high on March 4th, 2024. The total amount of cargo they moved last month was 35.4 million metric tonnes (MMT).

This growth is happening all across Indian ports, including Adani Ports’ Dhamra Port, which did even better by registering its highest-ever monthly cargo volume of 4.22 MMT.  

This shows how skilled and efficient their team is in the industry. As of 9.20 am on March 4th, the company’s shares were trading at Rs 1,352.7 on the National Stock Exchange (NSE)

Adani Ports is doing very well this year, having already moved 382 MMT of cargo in the 11 months ending February 2024.  

This means they are on track to move more than 400 MMT before the financial year ends in March.  

In an impressive feat, they managed to move 350 MMT of cargo at their domestic ports within 318 days, cementing their position as the leader in the industry. 

They have had a great year in rail volumes, with a 21% year-on-year increase, reaching 542,000 TEUs (twenty-foot equivalent units).

They have also seen a 40% year-on-year increase in General Purpose Wagon Investment Scheme volumes, reaching around 18 MMT. 

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