Markets

Adani Ports hits 52-week high on Dighi Ports acquisition

Our Bureau Mumbai | Updated on February 17, 2021

APSEZ was trading at ₹652.45 on the BSE, up by ₹15.90

The shares of Adani Ports and Special Economic Zone (APSEZ) hit fresh highs during the morning trade on Wednesday after the company announced that it had completed the acquisition of Dighi Port Limited (DPL) for ₹705 crore.

At 9:57 am, APSEZ was trading at ₹652.45 on the BSE, up by ₹15.90 or 2.50 per cent. It hit a 52-week high of ₹670.00. It opened at ₹659.00 as against the previous close of ₹636.55.

Also read: Adani Ports plans to invest ₹10,000 cr in developing Dighi

On the NSE, it was trading at ₹652.15, up by ₹15.60 or 2.45 per cent. It hit a 52-week high of ₹670.00.

APSEZ on Tuesday announced that it had completed the acquisition of 100 per cent stake of DPL for ₹705 crore on February 15. The company had intimated the commencement of this development to stock exchanges on March 6, 2020. DPL will be the 12th port to join APSEZ’s string of economic gateways across the eastern and western coast of India. It will help the company help establish its footprint in Maharashtra which includes the highly industrial areas and development in the Mumbai and Pune regions.

Also read: Adani Ports, JM Baxi Group co among firms to submit bids for building stations

APSEZ plans to invest over ₹10,000 crore to develop the port into a multi-cargo port as well as investing in the development of rail & road evacuation infrastructure for seamless and efficient cargo movement, it said.

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Published on February 17, 2021
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