Adani Ports jumps as GQG acquires additional stake in the company
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Adani Ports and Special Economic Zone is currently trading at Rs. 859.25, up by 23.40 points or 2.80% from its previous closing of Rs. 835.85 on the BSE.
The scrip opened at Rs. 844.25 and has touched a high and low of Rs. 863.70 and Rs. 838.95 respectively. So far 459843 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 987.90 on 20-Sep-2022 and a 52 week low of Rs. 394.95 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 863.70 and Rs. 771.00 respectively. The current market cap of the company is Rs. 186571.20 crore.
The promoters holding in the company stood at 62.89%, while Institutions and Non-Institutions held 29.44% and 7.68% respectively.
The Fort Lauderdale, Florida-based -- GQG has raised its stake in Adani Ports & Special Economic Zone (APSEZ) to over 5 per cent from 4.93 per cent by way of bulk deal as it continues to bet on billionaire Gautam Adani's group shrugging off market concerns.
GQG now has a stake in five of the 10 Adani Group firms. It on August 16, 2023 bought 7.73 per cent stake in Adani Power. Promoter group firms Worldwide Emerging Market Holding and Afro ASIA Trade and Investments sold 8.09 per cent stake in Adani Power through block deals on August 16, 2023. Of this, GQG bought 7.73 per cent. After the stake sale, promoter holding in Adani Power declined to 66.88 per cent from 74.97 per cent.
Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.
