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Adani Ports banks on growth containers, gas to double volume; stock up 5.3%

Delay in freight corridor, muted near-term volumes, and a weak rupee are worries

Adani Ports
APSEZ is also aiming to increase its market share by 300 basis points to 25 per cent by 2024-25

The stock of Adani Ports and Special Economic Zone (APSEZ) was up 5.3 per cent in trade after the company announced buyback details and outlined its five-year growth plan. While the buyback — which is expected to start on September 5 — is a near-term trigger, the Street will look at the prospects for the business over the medium term.  The company aims to double its volume, revenue, and profit over the next five years (FY19-24). It expects volume growth to be driven by containers, led by India’s gross domestic product growth and containerisation of cargo, from ...