10-06-2024 04:27 PM | Source: Accord Fintech
Adani Enterprises gains after its arm achieves 7% growth in air cargo during FY 2023-24

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Adani Enterprises is currently trading at Rs. 3243.00, up by 24.30 points or 0.75% from its previous closing of Rs. 3218.70 on the BSE.

The scrip opened at Rs. 3290.70 and has touched a high and low of Rs. 3295.00 and Rs. 3230.00 respectively. So far 78051 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3743.00 on 03-Jun-2024 and a 52 week low of Rs. 2142.30 on 20-Nov-2023.

Last one week high and low of the scrip stood at Rs. 3743.00 and Rs. 2734.05 respectively. The current market cap of the company is Rs. 368961.36 crore.

The promoters holding in the company stood at 72.61%, while Institutions and Non-Institutions held 20.18% and 7.21% respectively.

Adani Enterprises’ wholly owned subsidiary -- Adani Airport Holdings (AAHL) handled an impressive one million tonnes of air cargo in fiscal year 2023-2024, achieving a milestone. The achievement underscores AAHL's robust operational capabilities and strategic growth in the aviation industry.

Demonstrating solid growth, AAHL facilitated a remarkable 10,13,115 metric tonnes of cargo in FY 2023-24, capturing an impressive 30.1% market share. This represents a significant 7% year-on-year (Y-o-Y) increase compared to the previous fiscal, when the total cargo tonnage was 9,44,912 metric tonnes.

In FY 2023-2024, AAHL's cargo operations were predominantly international -- 65% of the cargo managed was international. This showcases AAHL's efficiency in managing worldwide operations while maintaining a robust domestic presence. The international cargo tonnage amounted to 6,62,258 metric tonnes, recording a notable 9% y-o-y growth compared to the previous fiscal's 6,06,348 metric tonnes. The cargo operations were driven by commodities, including automobiles, pharmaceuticals, perishables, electricals/electronics, and engineering goods. They were efficiently handled across the Chhatrapati Shivaji Maharaj International Airport (Mumbai), the Sardar Vallabhbhai Patel International Airport (Ahmedabad), the Chaudhary Charan Singh International Airport (Lucknow), the Thiruvananthapuram International Airport, the Mangaluru International Airport, the Lokpriya Gopinath Bordoloi International Airport (Guwahati) and the Jaipur International Airport. The major international destinations for cargo included Germany, Netherlands, the United Arab Emirates, the United Kingdom and the United States of America.

Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.