This Adani Group stock has zoomed 40% in 5 weeks, hit new high today

The company said it is, now, targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year

Shares of Adani Ports and Special Economic Zone (APSEZ) hit a new high of Rs 1,158.75, gaining 3 per cent on the BSE in Friday's intraday trade. The stock is extending its past week's rally which began after the company reported strong cargo volumes in December. In the past six days, the stock has rallied 14 per cent, while it has surged 40 per cent in the past five weeks.

APSEZ, a part of the globally diversified Adani Group, is the largest port developer and operator in India with seven strategically located ports and terminals on the West and the East