Essar Ports rose 1.12% to Rs 121.60 at 11:50 IST on BSE after the company announced that its subsidiary, Vadinar Liquid Terminals, has entered into a concession agreement with Kandla Port Trust for development of marine liquid terminal facilities.
The company made the announcement after market hours on Friday, 17 April 2015.
Meanwhile, the BSE Sensex was down 244.63 points, or 0.86%, to 28,197.47.
On BSE, so far 269 shares were traded in the counter, compared with an average volume of 2.06 lakh shares in the past one quarter.
The stock hit a high of Rs 123.65 and a low of Rs 121 so far during the day. The stock had hit a 52-week high of Rs 150.40 on 23 March 2015. The stock had hit a 52-week low of Rs 58.05 on 8 May 2014.
The stock had outperformed the market over the past one month till 17 April 2015, falling 0.5% compared with 1.02% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.24% as against Sensex's 1.14% rise.
The mid-cap company has an equity capital of Rs 427.89 crore. Face value per share is Rs 10.
Essar Ports announced that Vadinar Liquid Terminals, a subsidiary of the company has entered into a concession agreement with Kandla Port Trust for development of marine liquid terminal facilities consisting of one single point mooring system and two product jetties at Vadinar in Gujarat. The terms of the concession is 30 years.
Essar Ports' consolidated net profit rose 4.6% to Rs 98.34 crore on 15.6% rise in total income to Rs 469.82 crore in Q3 December 2014 over Q3 December 2013.
Essar Ports, a part of Essar Group, is owners and operators of ports in India.
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