Adani Ports surges on buzz of getting security clearance
The company has received security clearance from the Union home ministry to bid for port projects in the country.
Adani Ports and Special Economic Zone (APSEZ) has surged 7% to Rs 157 in noon deals on reports that the company has received security clearance from the Union home ministry to bid for port projects in the country.
Since November 2010, India’s biggest private port operator has been denied security clearances by the government to bid for port projects due to undisclosed reasons. The company now bid for projects worth Rs 20,000 crore.
"The shipping ministry has decided to grant security clearance to Adani Ports for three port projects. According to the existing security clearance norms, the company can now bid for all port projects in the country," the Economic Times report suggests quoting a senior official in the ministry of shipping.
The stock opened at Rs 150 and touched high of Rs 159 on NSE. A combined 3.39 million shares have changed hands on the counter till late noon deals against an average 1.4 million shares that were traded daily in past two weeks on NSE and BSE.
Since November 2010, India’s biggest private port operator has been denied security clearances by the government to bid for port projects due to undisclosed reasons. The company now bid for projects worth Rs 20,000 crore.
"The shipping ministry has decided to grant security clearance to Adani Ports for three port projects. According to the existing security clearance norms, the company can now bid for all port projects in the country," the Economic Times report suggests quoting a senior official in the ministry of shipping.
The stock opened at Rs 150 and touched high of Rs 159 on NSE. A combined 3.39 million shares have changed hands on the counter till late noon deals against an average 1.4 million shares that were traded daily in past two weeks on NSE and BSE.