Adani Ports & SEZ reaches a $37 billion market cap, surpassing Beijing-Shanghai High Speed Railway, handling 27 percent of India’s cargo.
Adani Ports & Special Economic Zone has soared to a market value of almost $37 billion, surpassing Beijing-Shanghai High Speed Railway to become the world’s largest transport operations and services provider. This milestone is attributed to increasing cargo volumes and the company’s inclusion in India’s S&P BSE Sensex Index.
For the year ending March 31, Adani Ports managed 27 percent of India’s total cargo and 44 percent of its container cargo, with volumes rising 24 percent from the previous year. The company’s addition to India’s benchmark equity index is expected to attract $252 million in inflows, according to Nuvama Alternative & Quantitative Research.
Deven Choksey, managing director at DRChoksey FinServ, remarked that this marks a new journey for Adani Ports, which is now generating significant cash and efficiently handling millions of metric tons of cargo. Despite these achievements, Bloomberg Intelligence analyst Denise Wong warned of potential risks to the stock following the upcoming Lok Sabha elections. The stock previously fell over 20 percent on June 4 after Prime Minister Narendra Modi’s NDA alliance secured a narrow majority.
