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Adani Ports rallies 3% on clocking record 200 MMT cargo movement

At 1252 hrs, APSEZ was quoting Rs 377.55, up 3.24 The multi-port operator has a portfolio of eight ports/terminals across India

March 28, 2019 / 01:08 PM IST

Shares of Adani Ports rallied more than 3 percent intraday on March 28 after the company became the first Indian port operator to record 200 Million Metric Tons (MMT) cargo movement.

"Our projections were to reach this milestone by 2020 but we could achieve it ahead of schedule courtesy the tech-driven operational efficiency and enhanced asset utilisation. Robust capacity addition at our leading ports such as Dhamra and Mundra as well as deepening presence closer the hinterland with new facilities such as Ennore and Kattupalli played a critical role in this journey," Karan Adani, Chief Executive Officer (CEO) said in a BSE release.

The multi-port operator has a portfolio of eight ports/terminals across India. The company now wants to double the cargo handling to 400 MMT by 2025.

At 1252 hours, the stock was quoting at Rs 377.55, up 3.24 percent on the BSE.



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Moneycontrol News
first published: Mar 28, 2019 01:08 pm
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