Adani Ports share news: Ports shut as Biparjoy cyclone hits
SUMMARY:
– Adani Ports share price has fallen by more than 2% this week, and by 10% from January to June.
– Due to the Biparjoy cyclone, work at Kandla and Adani Port has come to a complete halt and people have been sent to safe places.
– Despite this, the impact on the company is expected to be minimal.
Adani Ports, which operates several ports in India, has been hit by the Biparjoy cyclone. Due to the storm, work at Kandla and Adani Port has come to a complete halt, and people have been sent to safe places. However, the impact on the company is expected to be minimal. Though its share price has fallen by more than 2% this week, and by 10% from January to June, the company’s operations are expected to resume once the storm has passed.
On a positive note, Adani Ports recently announced that its cargo volume in May had reached an all-time high. The company’s cargo volume from its ports grew by 19% compared to the previous year, totaling 36 million metric tons. This growth is expected to continue, as the company has been expanding its operations and investing in new infrastructure.
Despite the current setback, Adani Ports remains a leading player in the Indian ports sector. The company operates 12 ports across the country and has been expanding its operations overseas. It is also investing in new technologies to improve the efficiency and safety of its operations.
In conclusion, while the Biparjoy cyclone has caused a temporary disruption to Adani Ports’ operations, the company’s long-term growth prospects remain strong. As India’s economy continues to grow, the demand for ports and logistics services is expected to increase, providing a favorable environment for companies like Adani Ports to thrive.
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