MARG rises as its arm Karaikal Port attracts equity investment of Rs 130 crore

28 Jun 2012

MARG is currently trading at Rs. 85.45, up by 2.40 points or 2.89% from its previous closing of Rs. 83.05 on the BSE.

The scrip opened at Rs. 84.95 and has touched a high and low of Rs. 86.95 and Rs. 84.60 respectively. So far 7,259 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.50 on 17-Feb-2012 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. 86.95 and Rs. 82.20 respectively. The current market cap of the company is Rs. 325.00 crore.

The promoters holding in the company stood at 54.40% while Institutions and Non-Institutions held 6.66% and 38.95% respectively.

Standard Chartered Private Equity (Mauritius) II, by way of primary and secondary investments, has invested Rs 130 crore in MARG Karaikal Port for a minority stake. The primary subscription funds will be used for the MARG Karaikal Port expansion plans which will enhance the port’s capacity from 21 MMTPA to 28 MMTPA.

MARG Karaikal Port, a premier hi-tech port on the south east coast of India is notably the only all-weather, deep-water, multi-commodity port between Chennai port and Tuticorin port and is strategically located in the middle of this 680 km coastline, which makes it the new gateway to the state of Tamil Nadu. Its combination of strategic location, state-of-the-art equipments and world-class infrastructure makes it the port of choice for industries and businesses located in and around Central Tamil Nadu and beyond.

Karaikal Port is a subsidiary of Chennai headquartered MARG, one among India’s fastest growing infrastructure companies.

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