Essar Ports is currently trading at Rs. 58.25, up by 1.65 points or 2.92% from its previous closing of Rs. 56.60 on the BSE.
The scrip opened at Rs. 58.40 and has touched a high and low of Rs. 58.40 and Rs. 57.55 respectively. So far 212 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.00 on 26-Dec-2012 and a 52 week low of Rs. 55.00 on 22-Aug-2013.
Last one week high and low of the scrip stood at Rs. 61.00 and Rs. 56.15 respectively. The current market cap of the company is Rs. 2,492 crore.
The promoters holding in the company stood at 74.97% while Institutions and Non-Institutions held 10.74% and 14.29% respectively.
Essar Ports' - wholly-owned subsidiary - Essar Vizag Terminals, has entered into a concession agreement with Visakhapatnam Port Trust for development and operations of three iron ore berths at Visakhapatnam Port on BOT basis over a period of 30 years. These three berths (two outer harbor berths and one inner harbor berth) will have a combined capacity of 23 million metric tons per annum (MMTPA).
The project will be developed at a cost of Rs 1,200 crore over a period of three years. Essar Ports will take over the two outer harbor berths soon and the operation and up-gradation of the terminal will happen simultaneously. Vishakhapatnam Port handled 12.3 million tons of iron ore during FY13 and this traffic is readily available for these berths from commencement.
This project will increase Essar Ports’ total capacity for iron ore export on the east coast to 39MMTPA with four highly mechanized iron ore berths (three in Visakhapatnam Port and one in Paradip Port).
Essar Ports is one of the largest port companies of India, with a current capacity of 104 MMTPA. The capacity is being expanded to 181 MMTPA over the next few years. Essar Ports has three operational terminals at Hazira, Vadinar and Paradip.
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