Adani Ports share climbs almost 3% after its Q1 results for FY21:
Adani Ports: It is one of the largest private multi-port operation companies in India located in Gujarat. However, it is one of the subsidiaries of the Adani Group. Initially, the company was also known as Mundra Port and later it renamed Adani Port and Special Economic Zone Limited. The company provides reclamation solutions for the port and harbor construction. The present CEO of the company is Karan Adani.
Meanwhile, on Wednesday, August 12th, the company reported its Q1 results for the Financial Year 2020-21. The company’s consolidated net profit decreased by 25.86% to Rs. 758.02 crores in this quarter ended on June 30th. The company also posted its consolidated net profit of Rs. 1,022.42 crores in the same quarter last financial year.
Besides, the company’s total sales during this quarter decreased by 17.96% Year-on-Year (YoY) to Rs. 2,292.69 crores in Q1FY21. The company also reported its total sales of Rs. 2,794.47 crores in the same period last financial year.
On the other side, the companies EBITDA for this quarter decreased by 18.38% to Rs. 1,851.72 crores as against Rs. 2,268.84 crores in the same quarter last fiscal year. While the companies earning per shares (EPS) stood at Rs. 3.73 as against Rs. 4.94 in the same period last fiscal year.
However, the shares of Adani Ports Limited reported a bullish trend in the stock market on Wednesday. The company gained 6.90 points with a 2.06% increase and reached 341.90 INR. While in BSE, the company gained 7.35 points with a 2.20% increase and reached 342.20 INR.
Stock Market August 12th:
On Wednesday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports from the last three sessions. The Sensex is trading below 38,400 levels and Nifty is trading below 11,400 levels in the stock market. The Sensex lost 29.30 points with a 0.076% decrease and reached a 38,374.50 level. While Nifty lost 11.00 points with a 0.100% decrease and reached 11,311.20 level.
On the other side, the number of coronavirus cases in India reached 23,29,638 as of Wednesday, August 12th, and deaths reached 46,091.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Wednesday. It gained 9.27 points with a 0.065% increase and reached a 13,846.04 level. The S&P BSE Midcap lost 42.71 points with a 0.30% decrease and reached a 14,349.66 level. While Nifty Bank gained 36.85 points with a 0.17% increase and reached 22,264.05 level.
Top Gainers on August 12th: HCL Technologies, SBI, Eicher Motors, Hero Motocorp, and Tata Motors are the top gainers in today’s stock market.
Top Losers on August 12th: Hindalco Industries, Cipla, Kotak Mahindra Bank, Britannia Industries, and BPCL are the top losers in today’s stock market.