Shares of Adani Ports anchor at 5-month low

Down 5% in two days after business update for October

- DEEPAK KORGAONKAR

Shares of Adani Ports and Special Economic Zone (APSEZ) hit a five-month low of ₹1,296.1, down 4 per cent on the BSE during Tuesday's intraday trading. The stock ended 1.5 per cent lower at ₹1,329.25, as compared to 0.88 per cent rise in the BSE Sensex. In two days, the stock price of the Adani group company declined 5 per cent after the company reported handling 37.9 million tonnes (mt) of total cargo in October, compared to 37.5 mt in September 2024.

Year-to-date (YTD) October 2024, APSEZ handled 257.7 mt of total cargo (+8 per cent year-on-year (Y-o-Y)). This growth was supported by containers, which was up 19 per cent Y-o-Y, followed by liquids & gas (+9 per cent), the company said.

APSEZ hit its lowest level since June 6, 2024 in intraday deal. Following two days of correction, the stock has fallen 17 per cent from its 52-week high price of ₹1,607.95, reached on June 3, 2024.