update

Gujarat Pipavav Port shines on plan to invest $100 million to ramp up container handling capacity.

• Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, India's first private sector port, which has multi-cargo and multi-user operations.
• In a bid to ramp up its container handling capacity by over 50%, Gujarat Pipavav Port is reportedly planning to invest $100 million over the next two years. In this regard, the port has already tied up $70 million in external borrowings, while the rest will come from internal accruals.
• The expansion work involves replacing a crane with a more powerful one and constructing a new yard, which will help in expanding the overall capacity. Moreover, all the necessary permissions for the project are in place and it has also achieved a financial closure.
• The promoters holding in the company stood at 43.01% while Institutions and Non-Institutions held 47.61% and 9.38% respectively.
• The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 154.80 on 28-Jul-2014 and a 52 week low of Rs. 42.05 on 27-Aug-2013.
• Last one week high and low of the scrip stood at Rs. 154.80 and Rs. 136.15 respectively. The current market cap of the company is Rs. 7,174.00 crore.
• The scrip opened at Rs. 146.00 and has touched a high and low of Rs. 149.65 and Rs. 144.70 respectively. So far 83,000 shares were traded on the counter.
• Gujarat Pipavav Port is currently trading at Rs. 147.10, up by 1.70 points or 1.17% from its previous closing of Rs. 145.40 on the BSE.