Gujarat Pipavav Port gains as board to mull revision in expansion plan

Gujarat Pipavav Port rose 2.65% to Rs 87.15 at 11:48 IST on BSE after the company said its board will meet on 17 April 2014, to consider revision in expansion plan and its commencement.

The company made the announcement after market hours on Tuesday, 15 April 2014.

Meanwhile, the BSE Sensex was up 18.41 points, or 0.08%, to 22,503.34.

On BSE, so far 1.02 lakh shares were traded in the counter, compared with an average volume of 2.39 lakh shares in the past one quarter.

The stock hit a high of Rs 88.10 and a low of Rs 85 so far during the day. The stock hit a record high of Rs 92 on 10 April 2014. The stock hit a 52-week low of Rs 42.05 on 27 August 2013.

 

The stock had outperformed the market over the past one month till 15 April 2014, rising 6.39% compared with the Sensex's 3.10% rise. The scrip had also outperformed the market in past one quarter, rising 32.35% as against Sensex's 5.62% rise.

The mid-cap company has an equity capital of Rs 483.44 crore. Face value per share is Rs 10.

Gujarat Pipavav Port's net profit surged 114.1% to Rs 77.06 crore on 35.1% increase in total income to Rs 164.28 crore in Q4 December 2013 over Q4 December 2012.

AP Moller-Maersk group company Gujarat Pipavav Port (APM Terminals Pipavav), one of Western India's fastest growing gateway ports. APM Terminals is one of the largest container terminal operators in the world and offers the global shipping community an integrated Global Terminal Network of 56 ports and 154 inland facilities in 63 countries.

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