Shares of Adani Ports&Special Economic Zone (ADANIPORTS) gained 2% intraday to hit its share price at Rs371 after Adani Group acquired a good number of the stake in the company for Rs296-Cr from Gateway Distriparks Ltd.
Last weekend, Adani Logistics Ltd, a wholly-arm of ADANIPORTS, signed a definitive agreement to acquire a 40.25-pc stake in Snowman Logistics Ltd from Gateway Distri Parks Ltd. The acquisition gives Adani Logistics to double its capacity in the next 5 years.
Today, the ADANIPORT’s stock reacted positively with this Development and made an intraday high of Rs.61.25 on NSE. At the mid-noon session, the stock of ADANIPORTS was trading at around Rs.60.60, up 0.58% from the previous closing.
Avail stock future tips from our Experts.
Shares of Shares of Snowman Logistics also rose higher 2.58% today after Adani Group acquired a majority stake in the company for Rs296-crore from Gateway distri parks.
At 12-hrs the shares were trading 2.58 percent higher at Rs 43.75 per share on the NSE. The stock price rallied about 4% percent to touch a high of Rs 45.65 per share intraday.
Visit our website for free Nifty tips
Meantime, the benchmark indices reduced their morning gains and trade flat with Nifty at 12235.95, down by 12 points and the Sensex quoted at 41522-mark, down by 52 points in trade.