Shares of Gujarat Pipavav Port Limited
gained 2% in the morning trade on Wednesday. The company said in the filing that it will be suspending its entire Port Operations at Pipavav Port from mid-night until next 48 hours, based on the directions of the District Administration as well as Gujarat Maritime Board (the port regulatory authority).
The suspension of port operations is being done in view of an advisory of India Metrological Department about a severe Cyclonic Storm in next 24 hours which is likely to cross the Gujarat Coast between Porbandar and Mahuva with wind speed of 110-120 km per hour gusting to 135 km per hour during early morning of June 13, 2019, the company stated.
Gujarat Pipavav Port Ltd is currently trading at Rs84.20, up by Rs1.65 or 2% ,from its previous closing of Rs82.55 on the BSE. The scrip opened at Rs83.90 and has touched a high and low of Rs84.25 and Rs83.90, respectively.