Adani Ports inches up on completing acquisition of 95% stake in Gopalpur Port
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Adani Ports and Special Economic Zone is currently trading at Rs. 1408.50, up by 0.90 points or 0.06% from its previous closing of Rs. 1407.60 on the BSE.
The scrip opened at Rs. 1410.50 and has touched a high and low of Rs. 1426.00 and Rs. 1407.60 respectively. So far 21417 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1607.95 on 03-Jun-2024 and a 52 week low of Rs. 754.50 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1432.50 and Rs. 1337.30 respectively. The current market cap of the company is Rs. 304979.22 crore.
The promoters holding in the company stood at 65.89%, while Institutions and Non-Institutions held 28.48% and 5.63% respectively.
Adani Ports and Special Economic Zone has completed the acquisition of 95% stake in Gopalpur Port (GPL) from existing shareholders of GPL. Gopalpur port is located on the east coast of India and has the capacity to handle 20 MMTPA. The Government of Odisha awarded a 30-year concession to GPL in 2006, with the provision of two extensions of 10 years each.
As a deep draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina. The port plays an important role in supporting the growth of mineral-based industries in its hinterland, like iron & steel, alumina and others. The concessionaire has full flexibility to design and expand the port as per the market demand. The port is well connected with its hinterland through the national Highway NH16 and a dedicated railway line connects the port with the Chennai-Howrah main line.
Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.
