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Gujarat Pipavav Port shares rose 3.2 per cent on the BSE, logging an intra-day high at ₹187.75 per share. The buying interest came after the company signed a non-binding Memorandum of Understanding (MoU) with NYK India Private Limited (NYK).
At 1:08 PM, Gujarat Pipavav Port’s share price was trading 1.07 per cent higher at ₹183.85 per share on BSE. In comparison, the BSE Sensex was down 0.3 per cent at 84,886.9.
The company has a total market capitalisation of ₹8,888.04 crore. Its 52-week high was at ₹202.9, and its 52-week low was at ₹121.3.
Under the contract, both companies will work to enhance the roll-on, roll-off (RoRo) infrastructure at Pipavav Port, with high-quality facilities focused on enabling India's growing vehicle exports and automotive logistics, including Electric Vehicles.
RoRo infrastructure includes the specialised vessels, ports, and land-based facilities that enable wheeled cargo like cars, trucks, and other vehicles to be driven directly on and off the ship.
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“Gujarat Pipavav Port Limited (‘the Company’) has today signed a non-binding Memorandum of Understanding with NYK India Private Limited (‘NYK’) to enhance the RoRo infrastructure at Pipavav Port, with high-quality facilities focused on enabling India's growing vehicle exports and automotive logistics, including Electric Vehicles,” the filing read.
This strategic partnership with NYK focuses on developing specialised RoRo infrastructure capable of handling 5,00,000 cars annually with an emphasis on reducing dwell time and enable seamless vessel– rail synchronisation to manage growing rail volumes at Pipavav Port, while advancing sustainable and more efficient logistics, according to the filing.
Gujarat Pipavav Port Ltd (GPPL), now operating as APM Terminals Pipavav, is a private sector port, located on the southwest coast of Gujarat. Promoted by APM Terminals, it handles diverse cargo including containers, dry bulk, liquid cargo, and RoRo vessels. The port is known for its strategic location on an international trade route and its strong rail connectivity.
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