Adani Ports & Special Economic Zone (APSEZ) rose 3.67% to Rs 363.40 after the company said that cargo through put at its port rebounded in Q2 September 2020 and registered a growth of 7% on year-on-year basis.
During Q2 September 2020, APSEZ handled cargo volume of 56.25 MMT compared with 52.70 MMT handled in Q2 September 2019. The announcement was made during market hours today, 6 October 2020.The stock has soared 78.66% from 52-week low of Rs 203.40 hit on 23 March 2020.
APSEZ reported 26.3% decline in consolidated net profit to Rs 757.83 crore on a 18% fall in net sales to Rs 2,292.69 crore in Q1 FY21 over Q1 FY20.
APSEZ, a part of globally diversified Adani Group, is the largest port developer and operator in India. APSEZ accounts for nearly one-fourth of the cargo movement in the country. It is present across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
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