Adani's Mundra Port Executes Highest Monthly Vessel Movement In Its History

Adani Ports and SEZ Ltd. on Monday took to social media to announce a "significant milestone" in the operations of its port in Mundra.

The amount of vessels handled, and the number of vessel movements executed by the Mundra Port in November marked the "highest monthly record in our history", the company said.

"In November 2024, we reached a significant milestone by handling 396 vessels and executing 845 vessel movements at our Mundra Port, marking the highest monthly record in our history," it posted on X.

In November 2024, we reached a significant milestone by handling 396 vessels and executing 845 vessel movements at our #MundraPort, marking the highest monthly record in our history!

Here's to more achievements ahead! pic.twitter.com/RAgQHV63Mk

This announcement comes days after Adani Ports had reached two record breaking milestones within 24 hours on Dec. 11. The company reported that it had loaded "20,586 MT of HR Coils on BB-3", overtaking previous records from 2020 and 2021. It also handled 35 rakes in a single day with "21 loaded rakes, 1 BCN, and 13 unloading/release rakes".

The firm also announced on Dec. 10 that it will fund the Colombo West International Terminal project in Sri Lanka using its internal accruals, opting out of seeking financial support from the United States. The company confirmed that the project is progressing smoothly and remains on schedule for commissioning early next year.

The share price of Adani Ports closed 1.3% lower at Rs 1,243.15 apiece on the National Stock Exchange on Monday, compared to a 0.4% decline in the benchmark Nifty 50.

The stock has risen 21.36% on a year-to-date basis and 13.6% over the past 12 months.

Out of the 18 analysts tracking the company, 17 have a 'buy' rating on the stock and one suggests 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 35.3%.

Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.