100% Returns In 1 Year; Adani Stock Hits All-Time High On Big Update, Reaches Pre-Hindenburg Level

Adani Ports and Special Economic Zone Limited (APSEZ) experienced a surge in its shares, hitting an all-time high in early trade on March 4. This boost came on the back of a 33% year-on-year jump in cargo volumes recorded in February, as announced in a filing with the exchanges.

According to the disclosure, APSEZ efficiently handled a staggering 35.4 million metric tons (MMT) of total cargo last month, marking a 33% increase compared to the volumes managed in the same period the previous year. While this upward trend was noticeable across various ports, the Dhamra Port particularly stood out, achieving its highest-ever monthly cargo record of 4.22 MMT.

At 9:20 am on March 4, Adani Ports' shares were quoting at Rs 1,352.7 on the National Stock Exchange (NSE), exhibiting a 1% uptick from the previous session. Over the past six months, the company's shares have witnessed a substantial surge of around 70%. In contrast, the benchmark Nifty 50 index only managed a rise of approximately 14% during the same period.

Notably, the company's performance extends beyond the recent month, as in the 11 months leading up to February 2024, APSEZ efficiently handled an impressive 382 MMT of cargo. This accomplishment puts the company on a promising trajectory to surpass the 400 MMT mark before the conclusion of the financial year in March. Adani Ports proudly announced, "The company achieved the milestone of surpassing the 350 MMT cargo volume mark at its domestic ports in 318 days."

The logistics arm of the firm also contributed significantly to this success story, witnessing record growth in various aspects. Year-to-date rail volumes registered a 21% year-on-year surge at 542,000 TEUs (twenty-foot equivalent unit), while the General Purpose Wagon Investment Scheme volumes reached around 18 MMT, reflecting a 40% increase compared to the previous year.

The company's shares were trading with gains of nearly 1% at Rs 1,350 per share as of 10:55 am on the NSE, showcasing a nearly 100% surge in the last one year alone.