Shares of Adani Ports and Special Economic Zone Ltd were trading 2.38% lower at ₹1,317.10 on the NSE as of 9:55 am.
The release of the company’s October business update showed –
October Business Highlights:
- Cargo Handled: Adani Ports reported handling 37.9 million metric tonnes (MMT) of cargo in October, aligning with their yearly volume target.
- Year-to-Date (YTD): The company managed 257.7 MMT of cargo for October 2024 YTD, marking an 8% increase year-on-year.
- Container Volumes: Up by 19% YoY.
- Liquids and Gas: Up by 9% YoY.
The increase in cargo volumes highlights the company’s strategic growth in handling diverse cargo types, especially containers, liquids, and gas. However, the stock reacted negatively, potentially due to broader market trends or profit-booking post the recent update.
