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Adani Ports share hits new high on Dighi port acquisition

Adani Ports & SEZ share is trading higher than 5, 20, 50, 100 and 200-day moving averages. The market capitalisation of the stock stood at Rs 1,34,369.90 crore today.

twitter-logoBusinessToday.In | February 17, 2021 | Updated 12:37 IST
Adani Ports share hits new high on Dighi port acquisition
Adani Ports share has risen 14% in one week and 25% in one month. The stock has gained 36% year to date and 82% in one year

Adani Ports and Special Economic Zone share gained over 5% to new 52-week and an all-time high of Rs 670 on Wednesday, trading as the top gainer on NSE after the company completed the acquisition of Dighi Port Limited (DPL) for Rs 705 crore.

Following the news, Adani Ports shares opened with a gain of 3.53% today at Rs 659 touched an intraday high of Rs 670, rising 5.25% against the last close of Rs 636.55. The stock has climbed 4.36% in the last 5 days.

Adani Ports & SEZ share is trading higher than 5, 20, 50, 100 and 200-day moving averages. The market capitalisation of the stock stood at Rs 1,34,369.90 crore today. The stock has risen 69% from its 52-week low of Rs 203.40, hit on March 23, 2020.

Adani Ports share has risen 14% in one week and 25% in one month. The stock has gained 36% year-to-date and 82% in one year.

The company said in the release, "Under the Corporate Insolvency Resolution Plan ('CIRP'), APSEZ completed the acquisition of DPL for INR 705 crores. APSEZ will be investing INR 10,000 crores to develop Dighi Port Limited (DPL) into an alternate gateway to JNPT."

"With the acquisition of DPL, APSEZ marks its presence in Maharashtra, the largest Indian state in terms of its contribution to the GDP and will support the industrial zones in the Mumbai and Pune region", it added.

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