Adani Ports shares jump 9% to 52-week high on sharp rise in Q4 cargo volumes

Updated : April 06, 2021 12:38 PM IST

In its business update, APSEZ said it handled cargo volume of 73 MMT in Q4FY21, registering a growth of 27% on YoY.

For the whole financial 2020-2021, APSEZ handled cargo volume of 247 MMT, up 11 percent, YoY.

Shares of Adani Ports & Special Economic Zone (APSEZ) rallied over 9 percent to hit a fresh 52-week high of Rs 814.95 on Tuesday after the company reported a sharp jump in its cargo volume for the fourth quarter of fiscal 2021.

In its business update, APSEZ said it handled cargo volume of 73 MMT in Q4FY21, registering a growth of 27 percent on a year-on-year basis.

In March, the company handled cargo volume of 26 MMT, a growth of 41 percent, YoY, and 23 percent, MoM.

For the whole financial 2020-2021, APSEZ handled cargo volume of 247 MMT, up 11 percent, YoY.

"In the container segment, the company handled 7.22 Mn TEU’s in FY21 registering a growth of 16 percent on year-on-year basis. Market share of APSEZ in the container has increased to 41 percent of All India container volume in FY21," APSEZ said in a regulatory filing.

The west coast ports of APSEZ (Mundra and Hazira) handled 6.32 Mn TEUs of container volume in FY21. The Market share of western ports of APSEZ in containers has increased to 48 percent in FY21.

Mundra Port ended the year with a record cargo volume of 144.4 MMT a growth of 4 percent on YoY basis and continues to be the largest port of the country, it said.

In FY21, APSEZ operated more than 5,000 rake movements across various ports and hinterland of India.

"Further, our Ports and Logistics business generated Rs 5,900 crore as freight revenue for Indian railways," the company said.

At 12:00 pm, the shares of APSEZ were trading 9.74 percent higher at Rs 814.45 apiece on the BSE.

Catch all the latest updates from the stock market here.

Published : April 06, 2021 12:38 PM IST

Adani Ports shares jump 9% to 52-week high on sharp rise in Q4 cargo volumes

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