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MARG gains as Karaikal Port's cargo volumes grew by over 26% in FY12

04 Apr 2012 Evaluate

MARG is currently trading at Rs. 89.75, up by 1.35 points or 1.53% from its previous closing of Rs. 88.40 on the BSE.

The scrip opened at Rs. 88.85 and has touched a high and low of Rs. 89.75 and Rs. 87.20 respectively. So far 2,581 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 137.90 on 07-Apr-2011 and a 52 week low of Rs. 70.20 on 19-Aug-2011.

Last one week high and low of the scrip stood at Rs. 89.75 and Rs. 86.10 respectively. The current market cap of the company is Rs. 342.00 crore.

The promoters holding in the company stood at 54.40% while Institutions and Non-Institutions held 6.71% and 38.89% respectively.

MARG’s subsidiary - MARG Karaikal Port has posted an impressive growth in the volume of cargo handled during FY12, making the port one of the fastest growing in the country. The total cargo handled at the port rose to 6.01 million tonnes, notching up a sharp growth of over 26.5% more than the volume of 4.75 million tonnes handled during the previous financial year.

One of the major factors in growth was the increased volume of clean cargo such as fertilizer whose volumes nearly doubled in comparison with the previous financial year. March 2012 was a record setting month with the port handling around 850,000 tonnes of cargo, the highest ever in a single month. The port has also handled large scale exports of raw sugar for the first time during the year and the port also saw an increase in the exports of processed sugar to various overseas destinations.

Besides, the port’s cargo handling capacity and capabilities increased significantly during the past 12 months as 2 new deep draft berths were commissioned, taking the total number of berths available at the port to 5 at present. The port also commissioned dedicated infrastructure to handle containers and liquid cargo and expanded the existing facilities catering to dry bulk cargo.

FY 2011-12 witnessed the launch of container handling services at Karaikal Port when a feeder service linking the port with Colombo and other Indian ports was flagged off. The container services at the port received a further boost in March 2012 with the start of weekly scheduled train services by CONCOR that link Karaikal Port with the CONCOR ICD at Tondiarpet, Chennai. 

Marg Share Price

3.61 0.00 (0.00%)
06-Dec-2021 18:01 View Price Chart
Peers
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