Adani Ports soars on receiving LoA from Ennore for container terminal project

20 Feb 2014

Adani Ports and Special Economic Zone is currently trading at Rs. 163.95, up by 0.20 points or 0.12 % from its previous closing of Rs. 163.75 on the BSE.

The scrip opened at Rs. 161.00 and has touched a high and low of Rs. 167.35 and Rs. 160.15 respectively. So far 327227 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 175.00 on 20-May-2013 and a 52 week low of Rs. 118.00 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 164.80 and Rs. 143.30 respectively. The current market cap of the company is Rs. 34093.75 crore.

The promoters holding in the company stood at 75.00 % while Institutions and Non-Institutions held 20.45 % and 4.55 % respectively.

Adani Ports and Special Economic Zone (APSEZ), India’s largest private port developer has reportedly received Letter of Award (LoA) from Ennore Port for Rs 1,270 crore container terminal project. The LoA was issued on February 14, 2014. The next step is finalizing various parameters, including the formation of a special purpose vehicle and financial closure of the project.

Earlier, the company has emerged as the highest bidder to build a container terminal at the Ennore Port. The company offered highest revenue for the proposed Rs 1,270 crore project, compared to DP World which was the runner.

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. The company has reported 14.83% rise in its net profit at Rs 477.05 crore for third quarter ended December 31, 2013 as compared to Rs 415.43 crore for the same quarter in the previous year.

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