Adani Ports and Special Economic Zone (APSEZ) rose 2.31% to Rs 433.55 after cargo volume handled by the company, excluding Krishnapatnam Port, registered a growth of 10% in November 2020 over November 2019.
Overall, in November 2020, APSEZ handled cargo volume of 24 mmt which includes 3 mmt handled at Krishnapatnam Port. (Krishnapatnam port was acquired by APSEZ in October 2020).The scrip rose 3.33% to hit the day's high at Rs 437.85, which is also a 52-week high for the counter.
APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India. APSEZ accounts for nearly one-fourth of the cargo movement in the country. It is present across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
The company reported 31.6% rise in consolidated net profit to Rs 1,387 crore on 2.9% increase in revenue from operations to Rs 2,902.52 crore in Q2 September 2020 over Q2 September 2019.
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