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Adani Ports gains on inking concession agreement for building terminal at Kandla Port

02 Jul 2012

Adani Ports and Special Economic Zone is currently trading at Rs 122.40, up by 1.20 points or 0.99% from its previous closing of Rs 121.20 on the BSE.

The scrip opened at Rs 122.00 and has touched a high and low of Rs 123.00 and Rs 121.15 respectively. So far 11510 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 109.80 on 24-May-2012.

Last one week high and low of the scrip stood at Rs 123.00 and Rs 116.00 respectively. The current market cap of the company is Rs 24281.14 crore.

The promoters holding in the company stood at 77.50% while Institutions and Non-Institutions held 15.15% and 7.36% respectively.

Adani Ports and Special Economic Zone’s (APSEZ) - subsidiary - Adani Kandla Bulk Terminal has signed a concession agreement with the Kandla Port Trust, to set up a dry bulk terminal at the Kandla Port on build, operate and transfer basis. With this the company has emerged as the only private sector port operator with presence across six ports in India.

The project, which will be the one of largest bulk terminal on the west coast of India, will have a capacity of over 20 million tonnes a year and will be built at the cost of about Rs 1,200 crores approximately and be commissioned within a period of 24 months.

Besides, the dry bulk terminal will be located off Tekra near Tuna outside Kandla Creek at the Kandla Port, India’s number one port by volumes. The terminal, will handle cargo like coal, fertilizer, salt, minerals and other agri-products. With this, APSEZ’s bulk cargo capacity gets enhanced and it can now tap the ever increasing cargo of the hinterland as well as at Kandla.

Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.

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