Adani Ports hits fresh 52-week high on securing Tajpur port project

20 Sep 2022 , 12:57 PM

Adani Ports & SEZ’s counter hit a new 52-week high of Rs986 per share in Tuesday’s trade following the media reports informing that company has secured a greenfield deep sea project from the West Bengal government.

As per the media reports, the West Bengal government has granted APSEZ a greenfield deep sea Tajpur port project for Rs25,000 crore.

The port is planned to be built on a straight coastline, adjacent to the mineral-rich regions of West Bengal, Jharkhand, and Odisha. The identified site is 180 kilometres from Kolkata and 10 kilometres from Digha.

The trading firm ICICI Direct sees this as a positive development for the port and port services company.

According to Trendlyne data, 13 of the total 22 analyst recommendations on the counter are ‘strong buys,’ 6 are ‘buys,’ 2 are ‘holds,’ and one is a ‘sell’.

At around 12.56 PM, Adani Ports & SEZ was trading at Rs975.65 per piece, up by 1.68% from its previous closing of Rs959.50 on the BSE. The scrip touched intraday high and low of Rs987.90 and Rs971.50 respectively.

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