Adani Ports Share Price Falls 2% Following ₹913 Crore Block Deal

8 Apr 2024 , 01:38 PM

Adani Ports’ stock dropped 2% in early trading following a significant, ₹913-crore deal that was made on the exchanges on April 8.

Adani Ports and Special Economic Zone’s shares were trading at ₹1,349.65 on the NSE at 9:48 a.m. One crore shares have exchanged hands on the exchanges thus far, a substantial increase over the 35 lakh shares that are traded every day on average over the course of a month. This enormous deal has also contributed to a rise in counter volumes.

An estimated 67 lakh shares, or 0.3% of the company’s equity, were traded at an average price of ₹1,361 each. The deal’s floor price was more than 1% less than the closing price.

Adani Ports also oversaw the handling of 420 MMT of cargo in FY24, including cargo from foreign ports, representing a 24% increase from the previous year.

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