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      Adani Ports hits record high

      MoM Team / Mumbai, Jun 19, 2017 02:22 PM IST

        Adani Ports hits record high

        Adani Ports and Special Economic Zone rose 3.1 percent to Rs 374 on BSE after the company said Moody's has changed its outlook on the company to stable from negative.

        The announcement was made during market hours today, 19 June 2017.

        Meanwhile, the S&P BSE Sensex was up 268.02 points or 0.86 percent at 31,324.42.

        On the BSE, 3.15 lakh shares were traded on the counter so far as against the average daily volumes of 4.20 lakh shares in the past one quarter. The stock had hit a high of Rs 374.80 so far during the day, which is a record high. The stock hit a low of Rs 365 so far during the day. The stock had hit a 52-week low of Rs 195.55 on 24 June 2016.

        The stock had outperformed the market over the past one month till 16 June 2017, advancing 2.39 percent compared with the Sensex's 1.55 percent rise. The stock had also outperformed the market over the past one quarter, gaining 11.74 percent as against the Sensex's 4.97 percent rise. The scrip had also outperformed the market over the past one year, surging 74.81 percent as against the Sensex's 17.08 percent rise.

        The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

        Moody's has re-affirmed its investment grade rating at Baa3 on Adani Ports and Special Economic Zone (APSEZ).

        On consolidated basis, APSEZ's net profit rose 29.1 percent to Rs 1164.07 crore on 17.5 percent growth in net sales to Rs 2231.46 crore in Q4 March 2017 over Q4 March 2016.

        Adani Ports and Special Economic Zone is a port developer and the logistics arm of Adani Group.


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