
Adani Ports shares drop 5% on Israel-Gaza conflict
Shares of Adani Ports hit an intraday low of ₹793, taking the port operators' market cap to ₹1.71 lakh crore.
Shares of Adani Ports hit an intraday low of ₹793, taking the port operators' market cap to ₹1.71 lakh crore.
The promoter groups have raised a 2.06% stake in Adani Enterprises and 2.17% in Adani Ports & SEZ via open market transactions.
Deloitte, the auditor of APSEZ, raised concerns over Adani Ports' transactions with three entities, which the company said were unrelated parties.
India's largest port operator said it handled 300 million metric tonne (MMT) of cargo as on February 23, 2023, in just 329 days, beating its own milestone from last year of 354 days.
APSEZ is targeting FY24 revenue of ₹19,200-19,800 crore, while EBIDTA is projected in the range of ₹12,200-12,600 crore.