APSEZ scales record high after signing agreement for Vizhinjam port development project

Adani Ports and Special Economic Zone rose 1.86% to Rs 364.95 at 11:55 IST on BSE after the company signed a Concession Agreement for the development, operation and maintenance of the Vizhinjam International Deepwater Multipurpose Seaport project.

Meanwhile, the BSE Sensex was down 9.77 points, or 0.04%, to 27,868.50

On BSE, so far 1.92 lakh shares were traded in the counter, compared with an average volume of 2.73 lakh shares in the past one quarter.

The stock hit a high of Rs 372.95 so far during the day, which is record high for the counter. The stock hit a low of Rs 361.70 so far during the day. The stock hit a 52-week low of Rs 244 on 17 October 2014.

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

Adani Ports and Special Economic Zone (APSEZ) after market hours yesterday, 17 August 2015, clarified that the company has signed a Concession Agreement for development and operation/maintenance of Vizhinjam International Deepwater Multipurpose Seaport project on public private partnership mode with the Fisheries & Ports (E) Department of the Kerala state government. The project will be undertaken on design-build-finance-operate-transfer (DBFOT) basis. Earlier, APSEZ had 15 July 2015 announced that it had received Letter of Award for the project from the Fisheries & Ports (E) Department of the Kerala state government.

On consolidated basis, APSEZ's net profit rose 12.8% to Rs 640.88 crore on 32.4% growth in total income to Rs 1897.21 crore in Q1 June 2015 over Q1 June 2014.

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

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