Adani Ports drops after announcing Q3 results

Adani Ports and Special Economic Zone dropped 3.93% to Rs 416.05 at 15:07 IST on BSE amid intraday volatility after the company reported Q3 December 2017 results during market hours today, 18 January 2018.

Meanwhile, the S&P BSE Sensex was up 197.75 points or 0.56% at 35,279.57.

On the BSE, 5.33 lakh shares were traded on the counter so far as against the average daily volumes of 2.87 lakh shares in the past two weeks. The stock rose as much as 1.6% at the day's high of Rs 440 so far during the day. The stock lost as much as 5.55% at the day's low of Rs 409 so far during the day. The stock had hit a 52-week high of Rs 443.35 on 6 November 2017 and a 52-week low of Rs 283.60 on 20 January 2017.

Adani Ports and Special Economic Zone's (APSEZ) consolidated net profit rose 19.51% to Rs 1001 crore on 20.38% growth in total income to Rs 2924.85 crore in Q3 December 2017 over Q3 December 2016.

Shares of APSEZ had witnessed pre-result gains. The stock had risen 2.98% in the prior three trading sessions to settle at Rs 433.05 yesterday, 17 January 2018, from its close of Rs 420.50 on 15 January 2018.

Adani Ports and Special Economic Zone is India's largest port developer and the logistics arm of Adani Group.

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