Adani Ports surges on the buzz of setting up container terminal at Dhamra port

Adani Ports and Special Economic Zone is currently trading at Rs. 237.00, up by 5.35 points or 2.31% from its previous closing of Rs. 231.65 on the BSE. The scrip opened at Rs. 233.00 and has touched a high and low of Rs. 244.50 and Rs. 231.85 respectively. So far 752616 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 244.50 on 20-May-2014 and a 52 week low of Rs. 118.00 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 244.50 and Rs. 210.00 respectively. The current market cap of the company is Rs. 48884.27 crore. The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.71% and 4.29% respectively. Adani Ports & Special Economic Zone is reportedly planning to increase capacity at Dhamra port on the east coast, including building a container terminal there in two-three years. On May 16, Adani Ports said it was acquiring 100% stake in the Dhamra Port Company (DPCL) at an enterprise value of Rs 5500 crore in an all-cash deal. Moreover, the company wanted to add 12 berths at Dhamra, one of which could be a container terminal. The port has two bulk handling berths, with an installed capacity of 24 million tonnes. Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.