Adani Ports gets investment grade ratings; stock rises 3%

India Infoline News Service | Mumbai | June 19, 2017 15:00 IST

Adani Ports on Monday informed the bourses that the company has been given investment grade ratings by various agencies.

Adani Ports and Special Economic Zone
Adani Ports on Monday informed the bourses that the company has been given investment grade ratings by various agencies.
The list is given below:
Rating   Agency Rating   assigned
Moody’s Baa3
Fitch BBB
Moody’s has changed the outlook from a negative to stable. The company also expects the same ratings for its foreign currency denominated bonds.
Meanwhile, Adani Ports was up by 2.9% at Rs 373.40 per share at 1429 hours IST on BSE. It hit a high of Rs 374.80 and a low of Rs 365 so far during the day.
Adani Ports and Special Economic Zone Limited is an India-based port infrastructure company. The company is engaged in the business of developing, operating and maintaining the port and port-based related infrastructure facilities, including the multi-product Special Economic Zone (SEZ).
Stock View:
Adani Ports & Special Economic Zone Ltd is currently trading at Rs 374.65, up by Rs 12 or 3.31% from its previous closing of Rs 362.65 on the BSE.
The scrip opened at Rs 365 and has touched a high and low of Rs 375.7 and Rs 365 respectively. So far 6882505(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 75103.07 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 368.7 on 06-Jun-2017 and a 52 week low of Rs 195.55 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 366.15 and Rs 353.85 respectively.
The promoters holding in the company stood at 61.3 % while Institutions and Non-Institutions held 33.64 % and 5.06 % respectively.
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.



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