The stock of Adani Ports and Special Economic Zone Ltd (Adani Ports and SEZ Ltd) is witnessing a decline from last five days. On Tuesday i.e. November 29, 2022, this stock opened at Rs.878 level. After this, the stock saw a decline and after some time it reached the level of 876.20. Earlier on November 15, this stock was close to Rs 906. After this the stock kept falling down. Weakness is still visible in the stock.
Know what the company does
Adani Ports and Special Economic Zone Limited, formerly known as Mundra Port and Special Economic Zone Limited, is India’s largest private multi-port operator. APSEZ represents a large network of ports with India’s largest SEZ at Mundra.
Protest against Adani Sea Port is going on
Adani Group is building a mega port in Kerala since 2015. Its name is Vizhinjam International Port. There is opposition from the local residents and fishermen regarding this. Fishermen and local people believe that the construction of this port will affect their livelihood and due to the construction of the port, the coast on the north side is also being damaged. According to media reports, the protesters want a thorough scientific study about the damage caused to the sea due to the construction of the port. People’s protest against this port has been going on for more than last 120 days. According to media reports, fishermen and local people are demanding that the government stop the construction work and conduct an independent study of the impact of the port on the marine ecosystem. However, the Dani group claims that their project is completely regulated and big institutions like IITs have denied that it will cause coastal erosion. In this case, after getting the green signal from the High Court, the Adani group tried to start the construction work.