The stock market was bullish on Friday and December 27, the last trading day of the week. Amid this situation, the shares of the government company were also seen flying like a rocket. Indeed, Adani Ports and Special Economic Zone Limited (APSEZ) has placed a large order with the company. Investors bought shares after this news.
Adani Ports and Special Economic Zone Limited (APSEZ) has awarded state-owned manufacturing company Cochin Shipyard a total of Rs. Eight tugs worth Rs 450 crore have been ordered.
Tugs or tug ships are used to tow large ships in ports. According to the company, it expects deliveries of these towing vessels to begin from December next year and continue until May 2028.
Adani Ports said this is in line with the government's Make in India and Self-reliant India initiatives. This collaboration reflects our commitment to enhance maritime infrastructure in India and reflects our confidence in our country's Public Sector Undertakings (PSUs).
According to Ashwini Gupta, All-Time Director and Chief Executive Officer (CEO), APSEZ, we aim to contribute to the 'Make in India' initiative. Let us tell you that Adani Group is the largest private sector operator in the port operation business.
On December 27, Cochin Shipyard's shares touched a circuit above 5%. At the end of trading, the shares were Rs. It closed at 1532.10. However, shares of Adani Ports remained sluggish during the period and on Friday it traded at Rs. It was closed in the negative zone of 1232.
Adani Ports shares traded at Rs. reached the level of 1253.60. Let us tell you that the 52-week high of the stock is Rs 1,607.95. This price was in June 2024.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
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