Adani Ports drops after 2-day 5.1% rally

Adani Ports and Special Economic Zone lost 0.7% to Rs 149.95 at 12:12 IST on BSE, with the stock sliding on profit booking after 2-day 5.15% rally.

Meanwhile, the S&P BSE Sensex was up 91.07 points or 0.49% at 18,505.52.

On BSE, 91,000 shares were traded in the counter as against average daily volume of 3.76 lakh shares in the past one quarter.

The stock hit a high of Rs 154.50 and a low of Rs 149.55 so far during the day. The stock had hit a 52-week low of Rs 105.15 on 24 August 2012. The stock had hit a 52-week high of Rs 162.40 on 6 February 2013.

The stock had outperformed the market over the past one month till 10 April 2013, rising 3.5% compared with the Sensex's 6.45% fall. The scrip had also outperformed the market in past one quarter, jumping 11.07% as against Sensex's 6.35% fall.

The large-cap company has equity capital of Rs 400.68 crore. Face value per share is Rs 2.

Shares of Adani Ports and Special Economic Zone (APSEZ) had surged 5.15% in two trading sessions to settle at Rs 151 on Wednesday, 10 April 2013, from a recent low of Rs 143.60 on 8 April 2013.

APSEZ's consolidated net profit rose 12.5% to Rs 361.09 crore on 52.1% growth in net sales to Rs 1340.21 crore in Q3 December 2012 over Q3 December 2011.

APSEZ is engaged in business of developing, operating and maintaining the port and port related infrastructure facilities including multi-product special economic zone.

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