APSEZ gains after raising funds via issue of NCDs

Adani Ports and Special Economic Zone rose 1.77% to Rs 242.15 at 10:48 IST on BSE after the company said it has raised Rs 500 crore from issue of non-convertible debentures on private placement basis.

The announcement was made at the fag end of the trading session yesterday, 29 March 2016. The stock had risen 0.95% to settle at Rs 237.95 on that day.

Meanwhile, the S&P BSE Sensex was up 185.27 points or 0.74% at 25,085.73.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 3.24 lakh shares in the past one quarter. The stock hit a high of Rs 242.75 and a low of Rs 239.90 so far during the day. The stock had hit a record high of Rs 374.70 on 20 August 2015. The stock had hit a 52-week low of Rs 169.65 on 12 February 2016. The stock had outperformed the market over the past one month till 29 March 2016, surging 21.34% compared with Sensex's 8.25% rise. The scrip had, however, underperformed the market in past one quarter, sliding 9.68% as against Sensex's 4.52% fall.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

Adani Ports and Special Economic Zone (APSEZ) said it has raised Rs 500 crore on 29 March 2016, by allotment of 5,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis.

On consolidated basis, APSEZ's net profit rose 25.9% to Rs 644.96 crore on 3.1% growth in net sales to Rs 1565.93 crore in Q3 December 2015 over Q3 December 2014.

APSEZ, a part of the Adani Group, is India's largest private port operator.

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