Adani Ports and Special Economic Zone Limited (APSEZ) on July 2 reported a jump in its cargo volume, the firm said in a monthly business update.
APSEZ posted a 12 percent year-on-year (YoY) surge in cargo volumes for June at 37 MMT, which was led by 33 percent YoY growth in containers and 8 percent YoY rise in liquids & gas, the Adani group firm said.
The shares of the company were trading at Rs 1,471.8, down 0.18 percent on NSE at 12:33 pm.
Kattupalli Port in Tamil Nadu handled its highest-ever monthly cargo volume of 1.36 MMT, according to the company statement.
In the first quarter of the current financial year, APSEZ clocked 109 MMT of total cargo, up 7.5 percent YoY. The growth in cargo was primarily driven by containers (up 18 percent) and liquids & gas (11 percent), APSEZ said.
In the logistics segment, quarterly rail volumes stood jumped 19 percent to 156,590 TEUs and GPWIS volumes were at 5.56 MMT, higher by 28 percent.
Meanwhile, US-based Hindenburg research received a show cause notice from market regulator SEBI regarding its Adani report, the firm said in a blog post on July 2.
The 46-page show cause notice was delivered on June 27, said Hindenburg.
The short seller called out the markets regulator for failing to address the fraud it alleged in its Adani report published early last year, adding that it saw gains of only over $4 million in the short-seller episode that caused an epic market rout for the conglomerate.
Source: Moneycontrol