APSEZ to ride volume, market-share wave

Port operator aims to double its volumes to 1 billion tonnes by 2029

- DEEPAK KORGAONKAR

Shares of India's largest private port operator, Adani Ports and Special Economic Zone (APSEZ), jumped over 6 per cent to end at ₹1,288.8, backed by heavy volumes on a healthy guidance. It was the biggest gainer in the Sensex on Tuesday. The stock of the Adani group company has been quoting higher for three straight trading sessions and has rallied 11 per cent during this period. Between November 21 and 28, in the six trading days, the stock had dipped 13 per cent after the indictment of Gautam Adani and other senior Adani group executives on bribery and other charges.

Adani Green Energy (AGEL) clarified on November 27 that Gautam Adani (and two other directors of AGEL) were not charged with any violation of the US Foreign Corrupt Practices Act in the counts set forth in the indictment by the United States Department of Justice or the civil complaint by the United States Securities and Exchange Commission.