JSW Infrastructure soars on receiving LoA to develop Keni Port in Karnataka
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JSW Infrastructure is currently trading at Rs. 214.90, up by 12.10 points or 5.97% from its previous closing of Rs. 202.80 on the BSE.
The scrip opened at Rs. 217.70 and has touched a high and low of Rs. 220.00 and Rs. 212.50 respectively. So far 21145 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 220.00 on 17-Nov-2023 and a 52 week low of Rs. 141.75 on 03-Oct-2023.
Last one week high and low of the scrip stood at Rs. 220.00 and Rs. 196.40 respectively. The current market cap of the company is Rs. 42588.03 crore.
The promoters holding in the company stood at 85.61%, while Institutions and Non-Institutions held 7.77% and 6.61% respectively.
JSW Infrastructure has emerged as the winning bidder for development of all-weather, deep-water, greenfield port at Keni in Karnataka on Public Private Partnership basis. The Karnataka Maritime Board, Government of Karnataka has issued the Letter of Award (LoA) to JSW Infrastructure. As per the RFP document, the estimated cost of the Project is Rs 4,119 crore with initial capacity of 30 MTPA.
The proposed Keni Port is located strategically between two operational Major Ports viz. Mormugao Port in the north and New Mangalore Port in the south. The proposed port’s hinterland is primarily of coal and coke cargo which is being utilized for steel, cement and power plants. It is also further supported by Iron ore, limestone, dolomite handlings and export of finished steel products. Rail connectivity to the Keni Port site is proposed to be in southern side and will be connected with the existing Konkan line to north of the Ankola Station. The proposed railway alignment will be developed with a total length of approximately 8 km. The proposed port shall be well connected with Road and Railway Connectivity.
JSW Infrastructure is part of the JSW Group, a multinational conglomerate with an international portfolio of diversified assets across various sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports.
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