Adani Ports December cargo volumes up 42% YoY to 35.65 mt, raises FY24 guidance; stock gains 3%
Adani Ports share price has been on a bull run for the third straight session today and gained 6%. The Adani Ports share price today rose over 3% and hovered near its 52-week high level. Adani Ports & Special Economic Zone share price opened at ₹1,048.90 apiece on BSE, and touched intraday high of ₹1,082.50 and low of ₹1,030.85 per share. Adani Ports and SEZ stock price closed at ₹1,078 apiece. Adani Ports and SEZ share price has been among the top gainers of Nifty 50 for the second straight session.
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The stock’s positive sentiment continued to rise after the release of upbeat volume data for the December quarter. In December 2023, the company reported in its exchange filing that its cargo volumes increased 42% year over year (YoY). The volume of cargo handled by Adani Ports and Special Economic Zone Ltd was 35.65 million tonnes (MT).
The company has surpassed the upper end of the guidance range (370-390 MMT) given at the beginning of the current financial year and is now aiming for over 400 MMT of cargo volumes in FY24.
(more to come)
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Published: 02 Jan 2024, 03:40 PM IST
