Adani Ports gains on receiving receives LOI from Kandla Port Trust

27 Feb 2012

Adani Ports is currently trading at Rs. 142.45, up by 0.05 points or 0.04% from its previous closing of Rs. 142.40 on the BSE.

The scrip opened at Rs. 143.00 and has touched a high and low of Rs. 144.90 and Rs. 137.75 respectively. So far 225100 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 169.75 on 28-Oct-2011 and a 52 week low of Rs. 111.00 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 157.80 and Rs. 137.75 respectively. The current market cap of the company is Rs. 28368.06 crore.

The promoters holding in the company stood at 77.50% while Institutions and Non-Institutions held 15.51% and 7.00% respectively.

Adani Ports and Special Economic Zone (APSEZ), India's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player, has received the letter of intent (LOI) from the Kandla Port Trust, a Government of India body, to set up a dry bulk terminal at the Kandla Port on build, operate and transfer basis.

The company has emerged as the highest bidder on revenue share basis and has been awarded the concession in a highly competitive bidding scenario. The dry bulk terminal will off Tekra near Tuna outside Kandla creek at the Kandla port which is lndia's number one port by volumes. The construction of the new bulk terminal will begin after signing of the concession agreement with the Kandla Port Trust.

Adani Ports is now the only private port infrastructure company to operate and construct ports and terminals across six locations in India - Mundra, Dahej and Hazira in Gujarat, Marmugao in Goa and Visakhapatinam where it has recently begun construction of a coal import terminal. The Mundra port is the fourth largest commercial and top most private port in India.

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