ABG Infralogistics zooms over 30% in two days

In past one month, the stock zoomed 78% as compared to 1.9% fall in S&P BSE Sensex.

Shares in ABG Infralogistics have soared 14% to Rs 121, extending its previous day’s 20% rally on BSE, on back of heavy volumes.

The stock opened at Rs 109 and has hit a 52-week high of Rs 125 so far. The trading volumes on the counter jump over five-fold with around 27,000 shares changed hands till 1030 hours on BSE.

Shares of the company engaged in marine ports and services business have rallied 36% in past two trading sessions from Rs 88.80 on December 19, 2014.

In past one month, it zoomed 78% from Rs 68 on November 21, as compared to 1.9% fall in the benchmark S&P BSE Sensex.

In an interview with CNBC TV18 on Monday, Saket Agarwal, Managing Director, ABG Infra, said that the total capacity the company is creating is around 40 million tonne but this will be commissioned in the next financial year.

The total capex spend is at Rs 1500 crore, of which Rs 1000 crore is debt and the rest is equity. The equity comes from ABG as well as from the company's French shareholders and the rest of the fund comes from Indian banks, he adds.