Adani Ports moves up on getting LoI for O&M of container facility at Syama Prasad Mookerjee 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. 1362.50, up by 9.70 points or 0.72% from its previous closing of Rs. 1352.80 on the BSE.
The scrip opened at Rs. 1359.95 and has touched a high and low of Rs. 1381.00 and Rs. 1355.35 respectively. So far 83653 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. 702.85 on 23-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1607.95 and Rs. 1160.25 respectively. The current market cap of the company is Rs. 292223.60 crore.
The promoters holding in the company stood at 65.89%, while Institutions and Non-Institutions held 26.81% and 7.30% respectively.
Adani Ports and Special Economic Zone (APSEZ) has received the letter of intent (LoI) for the operation and maintenance (O&M) of the container facility at the Netaji Subhas Dock at the Syama Prasad Mookerjee Port in Kolkata. APSEZ won the five-year O&M contract through a competitive bidding process, which mandates the successful bidder to deploy cargo handling equipment within seven months from the letter of acceptance (LoA) date.
Netaji Subhas Dock is the largest container terminal on the eastern coast of India. It handled around 0.63 million TEUs in FY2023-24, serving a vast hinterland encompassing West Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, the northeastern hill states and the landlocked neighbouring countries of Nepal and Bhutan.
The Kolkata port is the nominated port for the Indo-Bangladesh Protocol on Inland Water Transit and Trade route. Netaji Subhas Dock has regular liner service calls from the hub ports of Singapore, Port Kelang and Colombo. The presence of APSEZ at the dock is likely to improve connectivity between the terminal and its container ports, particularly with the transshipment hubs at Vizhinjam and Colombo that are targeted for commissioning during the year.
Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.
.jpg)
