Adani Ports & Special Economic Zone Ltd.: What made Adani Ports surge 15%?

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NEW DELHI: Adani Ports was in a candy spot on Tuesday because the shares climbed almost 15 per cent with excessive volumes following a few excellent news for its shareholders.

On the NSE, the inventory jumped 14.50 per cent to finish at Rs 849.85.

Adani Ports and Special Economic Zone (APSEZ) on Monday stated it has acquired 25 per cent stake of Vishwa Samudra Holdings in Krishnapatnam Port for Rs 2,800 crore. This will lead to APSEZ growing its stake from 75 per cent to 100 per cent in Krishnapatnam Port.

Krishnapatnam Port, positioned on the east coast of India in Nellore district of Andhra Pradesh, is an all-weather, deep water port and has multi-cargo facility with a present capability of 64 million tonne each year (MTPA).

Apart from this, the corporate additionally noticed speedy progress in enterprise over the past month. The firm stated it dealt with cargo quantity of 26 MMT in March 2021, a rise of 41 per cent on a year-on-year foundation and 23 per cent on a month-on-month foundation.

For the quarter ended March, APSEZ dealt with cargo quantity of 73 MMT registering a progress of 27 per cent on a yearly foundation.

ended the 12 months with a file cargo quantity of 144. 4 MMT, a progress of 4 per cent on a year-on-year foundation and continues to be the most important port of the nation.

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