Adani Ports is world’s top services & transport op firm with $37bn mkt cap

Adani Ports and Special Economic Zone surged to a market value of nearly $37 billion, becoming the biggest services and transport operations provider in the world. The feat follows news of the company’s inclusion in the benchmark equity index of India, the S&P BSE Sensex, which should generate around $252 million in terms of inflows.

With a steady increase in business over the past months, Adani Ports and Special Economic Zone overtook Beijing-Shanghai High Speed Railway to scale the staggering market value of $37 billion.

Overall, Adani Ports moved 27 per cent of the country’s entire cargo stock in FY24, and 44 per cent container cargo, according to a statement released by the company.

This marked a 24 per cent growth in business volume for the fiscal year ending March 31, 2024 for Adani Ports, compared to last year, with 10 domestic ports setting records.

Meanwhile, Adani Ports and Special Economic Zone is all set for inclusion in the BSE Sensex, a move that should generate $252 million in inflows according to Nuvama Alternative & Quantitative Research.

Earlier this week, the Adani Group chairman, Gautam Adani, held a meeting with Bhutan Prime Minister Tshering Tobgay and signed a Memorandum of Understanding (MoU) with the nation’s Druk Green Power Corporation for a 570 MW hydroelectric plant in the province of Chukha. Adani met Bhutan’s King Jigme Khesar Namgyel Wangchuck, too, along with the Prime Minister in the nation’s Capital city of Thimphu.

“Absolutely fascinating meeting with Dasho Tshering Tobgay, Hon. Prime Minister of Bhutan. Signed an MoU with DGPC for a 570 MW green hydro plant in Chukha province. Admirable to see @PMBhutan advancing the vision of His Majesty The King and pursuing broad ranging infrastructure initiatives across the kingdom. Looking forward to working closely on hydro & other infra in Bhutan,” Adani wrote on his social media handles on Instagram and X, after his meeting with the Bhutanese Prime Minister.

On his meeting with King Jigme Khesar Namgyel Wangchuck, Adani had written on his social media handles on Instagram and X: “Honoured to meet His Majesty King Jigme Khesar Namgyel Wangchuck of Bhutan. Inspired by his vision for Bhutan and the ambitious eco-friendly masterplan for Gelephu Mindfulness City, including large computing centres and data facilities. Excited to collaborate on these transformative initiatives as also on green energy management for a carbon negative nation!”