Gujarat Pipavav Port surged 8.03% to Rs 85.45 after JP Morgan Funds purchased 0.63% stake in the company worth Rs 23.62 crore via block deal on Monday.
On Monday (6 July), JP Morgan Funds purchased 30.34 lakh equity shares, or 0.63% stake, of Gujarat Pipavav Port at an average price of Rs 77.85 per share via block deal on the BSE.
JP Morgan Funds acquired the shares from Flagship Indian Investment Company (Mauritius).
On a consolidated basis, Gujarat Pipavav Port's net profit fell 9.1% to Rs 54.14 crore on a 10.1% decline in net sales to Rs 161.94 crore in Q4 FY20 over Q4 FY19.
The company is engaged in providing port handling and marine services for container cargo, bulk cargo, and LPG cargo.
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