Adani Ports and Special Economic Zone Limited (APSEZ) released its monthly business update for November 2024. The total cargo handled during the month amounted to 36 million metric tons (MMT), reflecting a 21% year-on-year (YoY) increase, driven primarily by containers.
For the year-to-date (YTD) period ending November 2024, APSEZ handled a total of 293.7 MMT of cargo, representing a 7% YoY growth. This growth was largely driven by containers, which saw a 19% increase, followed by liquids and gas, which grew by 7%.
Following recent allegations from the US Department of Justice and the US Securities and Exchange Commission (SEC) against directors of Adani Green, the Adani Group issued a clarification. The group strongly denied the charges, calling them baseless. Since then, Adani Group shares have been in recovery mode. The group emphasised that as per the US Department of Justice, the charges are merely allegations, and the defendants are presumed innocent unless proven guilty. The Adani Group reaffirmed its commitment to maintaining the highest standards of governance, transparency, and regulatory compliance across all jurisdictions, assuring stakeholders of their law-abiding nature and full legal compliance.
On December 02, 2024, Adani Ports shares opened at ₹1,213.45 and touched the day high of ₹1,213.45 at 12:30 PM, reflecting a gain of around 1% from the previous close.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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