Shares of Adani Ports & Special Economic Zone Ltd. (APSEZ) surged as much as 5.5% on Thursday. The stock is coming on the back of a five-day losing streak between December 16-20.

Earlier in the day, Adani Ports Managing Director Karan Adani tweet about the arrival of MSC Michela at Kerala’s Vizhinjam port, which marked the 100th commercial vessel to dock at the port in less than six months.

Adani tweeted further that the Vizhinjam port is the company’s forerunner in driving state-of-the-art technology in ports and logistics.

The arrival of MSC Michela, the 100th commercial vessel to dock at Vizhinjam Port in under six months, is another milestone in India’s rapid emergence as a global transshipment hub. With automated container handling, this new port in Kerala is a forerunner of our drive towards… pic.twitter.com/0HVRTBBYJY

— Karan Adani (@AdaniKaran) December 26, 2024

Late last month, Karala CM Pinarayi Vijayan announced the signing of a supplementary concession agreement between the Adani Group and the Kerala government. The second and third phase of the Vizhinjam Port will be completed as 2028 draws closer and will involve an additional investment of ₹10,000 crore.

The latest expansion plan will take the port’s capacity to 30 lakh Twenty-foot Equivalent units.

Shares of Adani Ports are trading 5.1% higher at ₹1,242.4. The stock has delivered positive returns for the fifth consecutive year.