Adani Ports Stock Surges on Strong November Volume

3 Dec 2024 , 01:16 PM

In Tuesday’s BSE trading, Adani Ports‘ stock surged 5.5% to Rs 1,282 following the company’s announcement that it handled 36 million metric tonnes (MMT) of cargo in November 2024. The container segment has grown by 21% as a result.

Adani Ports processed 293.7 MMT of cargo in the first eleven months of 2024, a 7% increase over the same time last year. During this time, its logistics rail volume also rose by 10%.

In other news, a number of Adani Group-affiliated entities have petitioned the Securities and Exchange Board of India (Sebi) for a settlement in a dispute alleging unfair conduct at four of the infrastructure conglomerate’s listed companies violate public shareholding standards.

According to records seen by ET, Emerging India Focus Funds (EIFF), a foreign portfolio investor (FPI) based in Mauritius that Sebi claims is connected to Vinod Adani, Gautam Adani’s older half-brother, this week offered a settlement sum of Rs 28 lakh.

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