Adani Ports and Special Economic Zone gained 1.47% to Rs 289 at 10:35 IST on BSE after the company said it is contemplating, subject to market conditions, to undertake the issue of foreign currency denominated bonds.
The announcement was made before market hours today, 10 January 2017.Meanwhile, the BSE Sensex was up 125.38 points, or 0.47%, to 26,851.93.
On the BSE, 41,989 shares were traded in the counter so far, compared with average daily volume of 3.06 lakh shares in the past one quarter. The stock had hit a high of Rs 290.05 and a low of Rs 285.10 so far during the day. The stock had hit a 52-week high of Rs 317 on 25 October 2016. The stock had hit a 52-week low of Rs 169.65 on 12 February 2016.
The stock had underperformed the market over the past one month till 9 January 2017, falling 0.33% compared with the Sensex's 0.08% fall. The scrip had, however, outperformed the market in past one quarter, rising 6.65% as against the Sensex's 4.76% fall.
The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.
The proposed issue of foreign currency denominated bonds has already been approved by the board of directors of the company at a meeting held on 2 November 2015 and by the shareholders at a meeting held on 9 August 2016.
The pricing, tenure and other terms of the bonds to be issued pursuant to the issue will be determined by the Finance Committee of the company. The details of which shall be intimated in due course and shall take place on 12 January 2017 or on a later date subject to market conditions and other considerations, Adani Ports said.
Adani Ports and Special Economic Zone's (APSEZ) consolidated net profit rose 61% to Rs 1090.81 crore on 20.7% increase in net sales to Rs 2175.77 crore in Q2 September 2016 over Q2 September 2015.
APSEZ, a part of the Adani Group, is India's largest private port operator.
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