Adani Ports to develop DPL into alternate gateway to JNPT; invests Rs 10,000 crore
Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group announced on Tuesday post-market session that it has completed 100 per cent stake acquisition of Dighi Port Limited (DPL) for Rs 705 crore.
The company plans to invest over Rs 10,000 crore to develop DPL into an alternate gateway to Jawaharlal Nehru Port Trust (JNPT). This development will lead to further investments across various industries such as consumer appliances, metals, energy, petrochemicals & chemicals business in Maharashtra, providing a great boost to the industrial development and growth in Maharashtra.
With the acquisition of DPL, the company marks its presence in Maharashtra as the largest Indian state in terms of its contribution to the GDP. It also aims to support the industrial zones of Mumbai & Pune region.
The company is mainly engaged in one business segment, namely developing, operating, and maintaining the port's services. It enjoys a 35 per cent market share in container volume while 22 per cent in the cargo segment.
At 11.43 am on Wednesday, the company’s stock was trading at Rs 660.70, up by 3.79 per cent against its previous close of Rs 636.55. It reported an intraday high and an intraday low of Rs 670.00 and Rs 647.30, respectively on BSE.