Monday 4 July 2016

Environment Ministry withdraw penalty on Adani Ports

The Union environment ministry has withdrawn demand for a Rs. 200 crore restoration fund from Adani Ports & SEZ.

Adani-Ports-And-Special-Economic-Zone
The Union environment ministry has withdrawn demand for a Rs. 200 crore restoration fund from Adani Ports & SEZ for damage to the environment imposed during the United Progressive Alliance (UPA) government, according to reports.

The Environment Ministry reportedly said the claims are “incorrect” and it had imposed “more serious” responsibility on the firm without any cost limit.

Adani Ports & Special Economic Zone Ltd ended at Rs. 204.55, down by Rs. 2.15 or 1.04% from its previous closing of Rs. 206.7 on the BSE.

The scrip opened at Rs. 207 and touched a high and low of Rs. 208.05 and Rs. 204 respectively. A total of 3606949(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 42361.32 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 374.7 on 20-Aug-2015 and a 52 week low of Rs. 169.65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 208.05 and Rs. 202.4 respectively.

The promoters holding in the company stood at 56.39 % while Institutions and Non-Institutions held 38.14 % and 5.47 % respectively.

The stock traded above its 200 DMA.

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