ADANI PORTS AND DPECIAL ECONOMIC ZONE (APSEZ) HIT FRESH HIGHS DURING THE MORNING TRADE

APSEZ was trading at Rs.659.40 on NSE, up by 22.85 points or 3.59%.It hit intraday high of Rs.670.00 and low of Rs.646.90.It opened at Rs.685.00 as against the previous close of Rs.636.55.

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.

DPL, the 12th port to join APSEZ’s string of economic gateways across the eastern and western coast of India would establish the company’s footprint in Maharashtra, the largest contributor to India’s GDP.

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

The company will strengthen and repair existing infrastructure and invest in development of facilities for dry, container, and liquid cargo.