Adani Ports spurts after record coal handling from Mundra port

Adani Ports and Special Economic Zone surged 4.19% to Rs 134.40 at 11:01 IST on BSE after the company said its Mundra port handled a record 151,229 metric tonnes of steam coal in 24 hours from a large cape vessel.

The announcement was made after market hours on Thursday, 12 September 2013.

Meanwhile, the S&P BSE Sensex was almost flat at 19,780.15.

On BSE, 1 lakh shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past one quarter.

The stock hit a high of Rs 136.15 and a low of Rs 130.20 so far during the day. The stock had hit a 52-week high of Rs 175 on 20 May 2013. The stock had hit a 52-week low of Rs 110.10 on 13 September 2012.

The stock had underperformed the market over the past one month till 12 September 2013, sliding 10.54% compared with the Sensex's 4.41% rise. The scrip had also underperformed the market in past one quarter, declining 10.63% as against Sensex's 3.89% rise.

The large-cap company has equity capital of Rs 414.01 crore. Face value per share is Rs 2.

Adani Ports and Special Economic Zone (APSEZ) said its Mundra port had handled 151,229 metric tonnes of steam coal in 24 hours from MV Cape Fushen, Large Cape Vessel, carrying steam coal of Indonesian Steam Coal of Adani Power (APL), thus setting a new national record in coal cargo handling in the country.

APSEZ's consolidated net profit surged 51.1% to Rs 417.50 crore on 64.5% growth in net sales to Rs 1446.86 crore in Q1 June 2013 over Q1 June 2012.

APSEZ is engaged in business of developing, operating and maintaining the port and port related infrastructure facilities including multi-product special economic zone. The company plans to handle 200 million tonnes of cargo by 2020.

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