Adani Ports Gains from Petroleum Import Approval

Adani Ports shares rose over 1% after the government extended approval for Adani Krishnapatnam Port to import petroleum in public interest. The stock reached ₹1,275.75, contributing to the company’s market cap of ₹2.74 lakh crore. This marks a 21% rise over the past year and 24% since January. The company saw high trading activity, reflecting investor confidence in its strategic importance for India’s energy sector. However, analysts caution about its volatility as indicated by its beta of 2.1.