Ways2Capital Reviews : Gujarat Pipavav Port Stock Gains After Block Deal

Shares of Gujarat Pipavav Port (GPPL) gained 2% after block deal on the BSE. Around 11 lakh shares or 0.5% equity changed hands in a single block on the BSE.

The stock is currently trading at Rs108.50 up by Rs1.85 or 1.73% from its previous closing of Rs106.65 on the BSE.

The scrip opened at Rs106.50 and has touched a high and low of Rs110.15 and Rs105.85 respectively. So far 32,78,921 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs5,155.89cr.

GPPL provides port handling and marine services for container cargo, bulk cargo, and LPG cargo. The promoter of GPPL is APM Terminals, which is part of the A P Moller-Maersk Group. The company also operates a Container Freight Station and generates revenue from land related and infrastructure activities. The company has a 38.6% stake in Pipavav Railway Corporation Limited, which provides cargo handling services. The segmental tonnage for GPPL for FY18 stood as follows – (1) container segment - 70.3 lakh TEU, up 6% yoy; (2) dry bulk – 1.8mn MT, down 6%; (3) Liquid – 1.02 lakh MT, up 49% yoy and (4) Roll-on-roll-off – 98k cars, up 18% yoy.
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About Bhoomi Desai