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  • 06 Dec 2021
  • ICICI Securities

For the month of November, Adani ports has reported 4% YoY growth in overall volume to 24.74 MMT (flat MoM i.e. 24.76 MMT in October)

ADANIPORTS - 682 Change: 4.10 (0.60 %)

News: As per media sources, Adani ports has applied for environmental clearance to raise the cargo limit of Gangavaram port in AP by 20 MMT (current capacity at 40 MMT).

Views: The capacity expansion will undertake modernisation of nine existing berths within the approved project area of 1800 acres. For H1, GPL, handled 16 MMT cargo with a revenue of Rs.617 crore and EBITDA of Rs.419 crore.

Impact: Positive.